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HVAC Systems Market Size In India is set to grow by USD 3.98 billion from 2024-2028, Growing demand for inverter HVAC systems to boost the market growth, Technavio

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NEW YORK, June 13, 2024 /PRNewswire/ — The HVAC systems market size in India is estimated to grow by USD 3.98 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.77%  during the forecast period.  Growing demand for inverter HVAC systems is driving market growth, with a trend towards increasing popularity of smart HVAC systems  However, need for high R and D investment  poses a challenge. Key market players include Air Control India Pvt Ltd, Blue Star Ltd., Daikin Industries Ltd., Fujitsu General Ltd., Godrej and Boyce Manufacturing Co. Ltd., Haier Smart Home Co. Ltd., Havells India Ltd., Hitachi Ltd., Honeywell International Inc., IFB Industries Ltd., Ingersoll Rand Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Toshiba Corp., Trane Technologies Plc, Voltas Ltd., and Whirlpool Corp..

Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Non-residential and Residential), Type (Centralized and Decentralized), Installation Sites (New installation and Retrofit), and Geography (APAC)

Region Covered

India

Key companies profiled

Air Control India Pvt Ltd, Blue Star Ltd., Daikin Industries Ltd., Fujitsu General Ltd., Godrej and Boyce Manufacturing Co. Ltd., Haier Smart Home Co. Ltd., Havells India Ltd., Hitachi Ltd., Honeywell International Inc., IFB Industries Ltd., Ingersoll Rand Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Toshiba Corp., Trane Technologies Plc, Voltas Ltd., and Whirlpool Corp.

Key Market Trends Fueling Growth

The HVAC systems market in India is experiencing growth due to the adoption of smart and connected systems. IoT-enabled devices, such as wireless acoustic transmitters and steam trap monitors, aid in monitoring HVAC system operations. End-users prioritize predictive maintenance for increased efficiency and reduced downtime. Manufacturers like Havells India, LG Electronics, and Samsung Electronics offer IoT-enabled smart HVAC systems for residential use.

Industrial HVAC systems benefit from IIoT integration for energy savings and reduced on-site services. The focus on building smart factories in India supports this trend. 

The HVAC systems market in India is experiencing significant growth, with a focus on energy-efficient and smart technologies. HVAC systems are essential for maintaining comfortable indoor environments in various sectors such as commercial, residential, and industrial.

The use of sustainable and eco-friendly HVAC systems is a trending topic, with many companies offering products that meet this demand. The HVAC industry in India is also witnessing the adoption of IoT technology, enabling remote monitoring and control of systems. Additionally, the government’s push towards renewable energy sources is driving the demand for HVAC systems that integrate solar energy systems. Overall, the HVAC market in India is witnessing a surge in demand due to increasing urbanization and the need for energy-efficient solutions. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The HVAC systems market in India faces significant challenges due to the increasing demand for energy-efficient systems and intense competition. Manufacturers are investing heavily in R&D to create innovative designs and integrate automation technologies. However, the shortened product lifecycle and difficulty in passing R&D costs to end-users necessitate long-term investments and higher manufacturing costs. Established players like United Technologies and Daikin Industries continue to invest in India for energy-efficient and eco-friendly HVAC systems.The HVAC systems market in India faces several challenges. The high cost of installation and maintenance is a major concern for many businesses and individuals. The lack of skilled labor and proper training in HVAC technology is another challenge. Additionally, the inconsistent electricity supply and the need for energy-efficient solutions are pressing issues.Furthermore, the increasing demand for air conditioning due to rising temperatures and urbanization puts pressure on the industry to provide cost-effective and sustainable solutions. The use of advanced technologies like IoT and AI can help address some of these challenges by improving efficiency and reducing costs.However, the adoption of these technologies requires significant investment and infrastructure development. Overall, the HVAC systems market in India presents both opportunities and challenges for players in the industry.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

Application 1.1 Non-residential1.2 ResidentialType 2.1 Centralized2.2 DecentralizedInstallation Sites3.1 New installation3.2 RetrofitGeography 4.1 APAC

1.1 Non-residential-  The non-residential HVAC systems market in India, comprising commercial and industrial sectors, is the leading segment with consistent growth. This growth is attributed to the expanding construction sector, infrastructure development investments, and rising demand for office spaces. India’s office space demand is increasing, driven by urbanization and favorable commercial real estate policies.

Cities like Hyderabad, Bengaluru, NCR Delhi, Mumbai, and Pune are experiencing significant office space absorption. Furthermore, the growing number of start-ups and co-working spaces are boosting HVAC systems demand. Infrastructure development projects, such as the plan to build 220 new airports, will increase the demand for centralized split ACs, thereby fueling the HVAC systems market growth in India’s non-residential segment.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The HVAC Systems Market in India is witnessing significant growth due to the increasing demand for energy-saving products and regulations promoting energy efficiency. The HVAC industry is focusing on the use of R-410 and A2L refrigerants to meet the new HVAC regulations. The adoption of AI-based automated solutions is also on the rise, enabling smart climate control in residential, commercial, and industrial properties.

Energy-efficient buildings and sustainable structures, such as shopping centers, industrial facilities, and warehouses, are prioritizing the implementation of advanced cooling and heating systems. The telecommunication sector is also investing in energy-efficient HVAC technologies to support their critical infrastructure. The market is expected to continue its expansion, driven by the need for reliable climate control solutions in various sectors.

Market Research Overview

The HVAC Systems market in India has been experiencing significant growth due to increasing urbanization and rising disposable income. The market is driven by the demand for energy-efficient and cost-effective solutions in both residential and commercial sectors. The Indian government’s initiatives to promote renewable energy and energy efficiency have further boosted the market.

The HVAC Systems market in India caters to various applications such as air conditioning, heating, ventilation, and refrigeration. The market is segmented based on product types, applications, and regions. The major product types include split systems, packaged systems, and central systems.

The market is expected to continue its growth trajectory in the coming years due to the increasing demand for comfort and indoor air quality solutions. The market is also witnessing the adoption of advanced technologies such as IoT, AI, and ML for energy management and system optimization. The Indian HVAC Systems market is a dynamic and competitive landscape with numerous players offering innovative solutions to cater to the evolving customer needs.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationNon-residentialResidentialTypeCentralizedDecentralizedInstallation SitesNew InstallationRetrofitGeographyAPAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Bridge Group Investments Rebrands as Mershops

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The Mersho family announces the launch of Mershops, a real estate platform redefining how America experiences retail, hospitality, and workplace destinations.

SAN JOSE, Calif., May 19, 2025 /PRNewswire/ — The Mersho family, founders of the nationally recognized Shoe Palace retail brand, announced today the rebranding of Bridge Group Investments to Mershops, a real estate platform focused on transforming underperforming assets into future-facing, culturally relevant destinations.

More than a name change, the launch of Mershops marks a generational evolution in the way real estate is imagined, executed, and experienced. Backed by permanent family capital and in strategic partnership with Steerpoint Capital, Mershops is actively repositioning a portfolio of malls, offices, and hospitality properties, beginning with five flagship assets across California and Nevada. The first two properties to undergo full-scale transformations are Mershops North County in Escondido, Calif., and the Galleria at Sunset in Henderson, Nev.

“Mershops is redefining what malls and destination properties can be,” said George Mersho, CEO of Mershops. “Our approach combines consistency, hospitality, and thoughtful design, laying the foundation for a diversified real estate platform spanning retail, office, and hospitality developments.”

“We’re building community-driven spaces that blend commerce with experience,” added Ralph Mersho, CFO of Mershops. “These thoughtfully designed environments encourage people to connect, linger, and return — reshaping how they engage with retail, work, and leisure.”

“Mershops is more than real estate — it’s a movement,” said Tony Mersho, Managing Partner. “We’re creating places where commerce, culture, and community collide. We lead with design, vision, and operational discipline — because people deserve better experiences, and properties deserve better futures.”

“We are setting a new benchmark for how malls should function in today’s world,” said John Mersho, Managing Partner. “This is about legacy. We’re not flipping assets — we’re rebuilding institutions. Our family-built brands people trust. Now, we’re building places they belong.”

At Mershops North County, a bold transformation is underway — turning the property into a next-generation retail and community hub. Enhancements include eye-catching signage, contemporary interior finishes, interactive digital directories, and revitalized branding that reflects a new era of vibrancy and engagement. These improvements are designed to not only modernize the space, but to create a destination that draws in both national retailers and the local community with equal strength.

The momentum is already visible with a curated lineup of new tenants: Round 1, bringing entertainment and nightlife energy; Panini Kabob Grill, adding fresh, chef-driven dining; Kids Empire, energizing the family and youth experience; and the Escondido Public Library, anchoring the project with cultural and civic value. These additions underscore Mershops North County’s rising influence as a magnet for diverse foot traffic and long-term tenant growth.

Similar property-wide upgrades are in motion at Antelope Valley Mall (Palmdale, Calif.), The Shops at Montebello (Montebello, Calif.), and Northridge Mall (Salinas, Calif.) — each receiving tailored reinvestments to enhance shopper experience, community relevance, and tenant success. The transformation also extends to two high-profile office campuses in Silicon Valley, reinforcing Mershops’ commitment to redefining environments in which people live, work, and connect.

“This rebranding is foundational to our vision of repositioning these properties as long-term value creators,” said Bo Okoroji, Founder & CEO of Steerpoint Capital. “We’re investing in malls that anchor their communities while generating robust, stable returns.”

About Mershops
Mershops is a visionary real estate platform founded by the Mersho family to acquire, elevate, and reimagine destination properties across the United States. Built on a legacy of retail innovation and rooted in hospitality, Mershops brings bold design, operational precision, and a customer-first mindset to every asset. With a long-term view and permanent family capital, Mershops is reshaping how people shop, work, and gather — creating spaces that inspire connection, deliver performance, and stand the test of time.

About Steerpoint Capital
Steerpoint Capital is a commercial real estate investment and advisory firm focused on value-add and opportunistic strategies across retail and mixed-use assets. With deep experience in repositioning malls and structuring creative investment partnerships, Steerpoint is active across the Western U.S. and Sunbelt states. For more information, visit SteerpointCapital.com.

Media Contact
Joey Good
Grapevine Strategies

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SOURCE Steerpoint Capital

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ANNOUNCING THE RETURN OF EBONY POWER 100: WHERE LEGACY MEETS TOMORROW’S LEADERS

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Submissions are now open till June 13th; nominate the changemakers shaping Black Culture in 2025

LOS ANGELES, May 19, 2025 /PRNewswire/ — Black excellence has a home, and for eight decades, that home has been EBONY. Today, as the iconic and beloved Black-owned media company prepares to celebrate 80 years of championing and elevating the Black identity through powerful storytelling, around the globe, we are now proud to announce that nominations are open for the 2025 EBONY Power 100 List.

The EBONY Power 100 captures lightning in a bottle—the dynamic forces who aren’t just participating in culture, but transforming it. As part of our enduring mission to amplify and celebrate Black voices, we recognize the visionaries who turn obstacles into opportunities, the innovators whose dreams become our daily reality, and the voices that resonate from boardrooms to recording studios, research labs to movie sets. From activists to actors, innovative scientists to business leaders, these are individuals who not only break barriers, but are redefining what’s possible for future generations, while embodying the spirit creative expression that has defined EBONY for decades.

Past honorees include Cynthia Erivo, USHER, former Vice President Kamala Harris, Deion Sanders, Gayle King, and Pat McGrath.

Submissions are now open for the 2025 EBONY Power 100 list. The full list of 2025 EBONY Power 100 categories include:

Artists in ResidenceBusiness DisruptersCommunity CrusadersEntertainment PowerhousesGeneration NextInfluential CreatorsLeaders in SportsMedia MavensMusic InnovatorsStem Trailblazers

To learn more about EBONY Power 100 and to nominate visit:
https://www.ebony.com/ebony-power-100-nomination-form.

All nominations must be submitted by June 13, 2025. Final honorees will be celebrated at the highly anticipated EBONY Power 100 ceremony in Los Angeles November 2025.

For inquiries about the EBONY Power 100 contact:

For EBONY Power 100 list inquires – EP100@ebony.comFor sales and brand partnerships – Duryea Ruffins, druffins@ebony.comFor PR & marketing – Deon Harris, dharris@ebony.com

About EBONY
For nearly 80 years, EBONY has served as the leading voice of the Black American experience and is the most influential Black-owned media company in the world. Under new ownership and leadership, EBONY has grown into a multi-media entity, covering cultural news, entertainment, and lifestyle with a commitment to Move Black Forward with EBONY, EBONY Studios, and JET. EBONY continues to be the leading authority and anchor for all facets of Black culture, illuminating the Black perspective and serving as the ultimate curator for the past, present, and future of the Black and African American experience.

EBONY Media Group is a division of 1145 Holdings, LLC.

Media Contact:
Allison
ebony@allisonworldwide.com

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SOURCE EBONY Media Group

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RealTruck Introduces “Builder,” First-of-its-Kind 3D Visualization Tool in the Aftermarket Accessory Retailer Market

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RealTruck Builder Allows Consumers to Easily Visualize their Dream Truck in a Seamless Build-to-Purchase Interactive Design Platform

ANN ARBOR, Mich., May 19, 2025 /PRNewswire/ — For years, truck enthusiasts have dreamed of a day when they could fully customize their build and see it come to life in true-to-scale 3D. RealTruck, a global aftermarket product and accessory brand and a digital destination for truck, Jeep®, Bronco® and off-road enthusiasts, has made it a reality with RealTruck Builder, the industry’s innovative and interactive 3D visualization tool that is available to all consumers visiting the site. The new digital design tool is a game-changer within the aftermarket accessory retailer market, and gives enthusiasts the opportunity to easily visualize their dream vehicle and directly explore and shop countless accessory combinations guaranteed to fit their vehicle.

With RealTruck Builder, shoppers can customize by choosing a specific vehicle model by year and make, including bed and cab configuration and OEM paint colors so they can see what accessories would look like on their vehicle before they decide to purchase. They also have the ability to mix and match products across categories including bed covers, steps, protection, bumpers, racks and more. Users can also view completed builds in life-sized 3D augmented reality, letting them see how gear and accessories fit and feel in real-world settings – from their driveway to their garage to their showroom – making it intuitive to see their dream vehicles as they build to buy.

“Built to explore and designed to bring your truck to life, RealTruck Builder makes every step—from browsing to buying—fun, intuitive, easy, and full of discovery,” said Tony Ambroza, Chief Growth Officer at RealTruck. “The online shopping experience has evolved and consumers now expect to virtually ‘experience’ what they are buying. RealTruck Builder was the natural progression to provide an experience for people to see how our products fit their specific vehicle and offer a seamless transition from design to purchase.”

RealTruck Builder delivers a fast, web-based, and fully transactional experience that lets customers explore and buy with confidence, loading thousands of products and vehicles in under a second. As part of the tool’s features, users can save and share their custom rigs via a link, making it easy to get feedback, return later, or pass along to a friend or dealer.

The easy-to-use tool is free to consumers, mobile friendly, and fully accessible via any device including phones, tablets and desktops. Consumers can explore millions of possible configurations, with new vehicles and accessories added daily including products proudly assembled in the USA.

To learn more about RealTruck Builder and to start building today, visit RealTruck.com.

About RealTruck
RealTruck is the world’s premier accessory manufacturer for truck, Jeep®, Bronco® and off-road enthusiasts. Globally headquartered in Ann Arbor, Michigan, RealTruck’s 5,000 associates operate from 78 facilities across four continents. RealTruck’s industry leading product portfolio, which includes the Husky Liners total vehicle protection brand, boasts over 850 patents and pending applications. The company’s omnichannel retail approach delivers a seamless consumer experience online at RealTruck.com, as well as through its 12,000+ dealer network and automotive (OEM) partnerships. For more information, visit www.realtruck.com.

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