The air-conditioning industry, valued at around Rs 27,500 crore (USD 3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report.
The Indian HVAC&R (heating, ventilating, air conditioning and refrigerating) is poised for exponential growth, said Blue Star Chairman & Managing Director Vir S Advani.
This growth would be driven by factors such as low penetration of room ACs and the burgeoning middle-class consumers with high disposable incomes, especially from smaller Tier III, IV & V markets.
The Indian The overall AC industry (both residential and commercial), currently valued at around Rs 27,500 crore, is likely to double in the next four years, Advani said in his address to the company's shareholders in the annual report for 2023-24.
The company is optimistic about its future business outlook, given the changing weather pattern, resulting in hotter summers coupled with a new and resilient product portfolio in residential and ...
