New Delhi, 16th February 2024: ACREX India, the premier event on the latest technological advancements and displaying a gamut of HVAC supply chain technologies, commenced today at the India Expo Mart, Greater Noida, Delhi – NCR. Organised by ISHRAE in partnership with Informa Markets in India, the expo provided a distinctive opportunity for local and international manufacturers to connect with government officials and industry stalwarts, thereby aiding them in attaining their business goals towards the projected market size of $30 billion by 2030. This year’s edition saw the participation of over 30,000 visitors and more than 500 exhibitors showcasing from over 40 countries showcased their innovations.
The grand inauguration ceremony witnessed the presence of esteemed dignitaries, including Mr. Sushil Chodhury, Chair ACREX India 2024; Mr. Yogesh Thakkar, National President, ISHRAE; Mr. Anoop Ballaney, President Elect, ISHRAE; Mr. Yogesh Mudras, Managing Director, Informa Markets India; Ms. Ginger Scoggins, President, ASHRAE; Mr Ravichandran Purushothaman, Director Danfoss – India Region, Mr. Sanjay Goyal, Senior VP and Director, Daikin India; Mr Vinod Saladi, CEO, ABS Fujitsu General India, Mr. Sundaresan Narayanan, Managing Director, Carrier India; and Mr. P. Venkat Rao, Chief Operation Officer, Bluestar, among others.
Addressing the opportunities in this sector, Mr. Yogesh Thakkar, President ISHARE, said, “As we observe the remarkable growth trajectory of the HVAC industry and the significant strides achieved through initiatives like the Atal Community Innovation Centre (ACIC) program, ACREX India emerges as a symbol of opportunity and progress. With the substantial government investment of USD 1.45 trillion in infrastructure projects over the next 5 years, we stand on the brink of an era marked by unprecedented advancement.
Moreover, advancements in HVAC technology, such as variable refrigerant flow systems and predictive maintenance using machine learning algorithms, are revolutionizing energy efficiency, cost reduction, and sustainability in both residential and commercial settings. ACREX India, positioned as a leading platform for industry evolution, not only showcases cutting-edge technologies but also fosters collaboration and innovation. We take pride in propelling this momentum forward and shaping the future of the HVAC industry.”
Speaking on the occasion, Mr. Yogesh Mudras, Managing Director, Informa Markets in India said, “ACREX India serves as a catalyst for driving the adoption of environmentally conscious practices within the HVAC&R sector, aligning with India’s ambitious goal of achieving Carbon Neutrality by 2070. It stands as the paramount platform where industry leaders converge to exchange ideas and unveil cutting-edge solutions. This year’s expo showcases an array of features including the Startup Pavilion, Innovation Zone, Demo Zone, B2B Meetings, Seminar & Workshops, Launch Pad, Solution Centre, and Idea Presentation. With power-packed sessions and round table discussions on Day 2 and Day 3 addressing crucial topics like skill gaps in the HVAC industry and the transformation of HVAC technologies for the Infrastructure and Building Sectors, ACREX India continues to drive innovation and growth in the industry.”
Speaking on the occasion, Mr. Anoop Ballaney, President Elect, ISHRAE, said “ISHRAE, a 43-year-old society is dedicated to knowledge sharing and learning, encompassing students, women, and K-12 learners in the built environment industry. Our mission transcends HVAC to uplift the entire industry, engaging with governments, industry leaders, and associate societies. As catalysts for India’s mission to achieve net-zero emissions by 2070, we prioritize decarbonization and skill development. With a membership spanning 53 Indian cities and expanding internationally, ISHRAE is not just a society but a global force driving innovation and sustainability in heating, ventilating, and air conditioning engineering.”
Emphasizing on the growth of Industry, Mr. Sanjay Sharma, Marketing Director, Carrier India, said “In the landscape of India’s HVAC industry, we witness rapid urbanization, the emergence of new buildings, and a thriving manufacturing sector. Projections indicate that by 2030, the number of Indian cities with populations exceeding one million will increase from 42 to 68, driving the demand for HVAC systems. Additionally, with over 50% of the country’s buildings expected to be constructed in the next two decades, the market holds vast potential. The government’s focus on fostering self-reliance through initiatives like Atmanirbhar Bharat further fuels this growth. To excel in this evolving market, HVAC businesses must embrace strategic approaches and innovation. At Carrier, we recognize the importance of establishing a robust manufacturing ecosystem for commercial air conditioning solutions to meet these changing demands.”
Emphasizing on the greener & sustainable future, Mr. Ravichandran Purushothaman, President, Danfoss Industries said “At ACREX India, our dedication to sustainability is evident in our steadfast commitment to harnessing renewable energy, notably solar power. Our focus on energy efficiency is reflected in our products, which adhere to the highest standards set by the Bureau of Energy Efficiency. We actively promote the adoption of higher star-rated air conditioners to further our mission. Additionally, we are deeply involved in water conservation and biodiversity efforts, ensuring responsible management of resources. With significant government investments in infrastructure and solar panel installations, we are optimistic about our collective journey towards a greener, more sustainable future.”
According to Mr. Arvind JA. Kumar, Assistant General Manager Marketing, ABS Fujitsu General India, “As urbanization and decarbonization drive demand for high-energy efficient appliances and environmentally friendly refrigerants, the industry is poised for transformative growth. By 2050, consumer preferences and regulatory changes will further accelerate the adoption of eco-friendly solutions.
At ACREX India 2024, We are committed to showcase innovative and sustainable HVAC solutions. Through the advancement of energy-efficient technologies and collaboration with industry partners, we aim to drive sustainable practices and shape the future of the HVAC industry in India.”
In recent years, the HVAC industry has undergone a significant growth surge, with the India HVAC Market projected to expand by USD 3.98 billion, at a CAGR of 10.77% between 2023 and 2028. This growth is attributed to various factors, including the escalating demand for inverter HVAC systems, the expanding office space absorption, and the increasing preference for rental HVAC solutions. The market’s upward trajectory is further fueled by the rise in high-rise buildings, the proliferation of hypermarkets in Tier-II cities, and the establishment of shopping complexes and malls, where HVAC systems are indispensable.
ACREX India is amply supported by industry associations such as Refrigeration and Air Conditioning Trades Association (RATA), All India Air Conditioning and Refrigeration Association (ACRA), American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE), International Institute of Ammonia Refrigeration (IIAR), Assocham India, Indian Plumbing Association, India Green Building Council (IGBC), FSAI among others.
