Commercial spaces which use HVAC systems include transportation, hospitality, healthcare, and government establishments, supermarkets/hypermarkets, commercial offices/buildings, data centers, convenience stores, educational institutes, and department stores.
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Apart from the growing demand for HVAC appliances from the commercial sector, the industrial sector, including energy & utilities, oil & gas, automotive, food & beverage, chemical & cement, electronics, and textile plants, is also registering a considerable surge in the requirement for these systems, which can be ascribed to the rapid industrialization in the region.
Since the demand for HVAC systems is booming in the region, advancements such as the development of smart HVAC systems are also taking place. Much like all other smart devices, the major aim of these advanced HVAC systems is to reduce the consumption of energy. Smart HVAC systems provide information regarding their operation and energy consumption.
The users can make use of this information and adjust the system according to their needs, for example the temperature settings, length of preheating or precooling, and times for on and off operations. In addition to this, smart HVAC systems are also embedded with sensors and learning algorithms to learn the user behavior in a better manner.
Within the region, India would witness the fastest APAC HVAC market advance, on account of the Make in India initiative, which is encouraging companies to produce such equipment domestically, thus resulting in a fall in their prices. Additionally, this government initiative is also leading to the growth of the manufacturing sector, in general. With more production facilities being constructed, various types of heating, cooling, and ventilation appliances would be installed.
Hence, the demand for HVAC systems in the region is rising because of the expanding construction industry and adoption of smart HVAC systems.
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