Hello and welcome once again to Cooling India, the leading monthly magazine on the HVACR industry in the country. I wish you all a Happy New Year.
Here, we would like to begin the New Year on a positive note with forecast on Indian HVAC Market. As per TechSci Research, the HVAC market in India is projected to reach USD 3.97 billion by 2019. This projection is anticipated due to growth trajectory in retail, hospitality and commercial sectors, significantly giving a boost to the demand for HVAC systems in the country. These sectors require large-scale application of these systems in organized retail outlets, shopping complexes, hotels, etc. Apart from this, with an expected growth in FDI (Foreign Direct Investment), several international players have evinced their interest in the Indian retail market.
Further, CRISIL Research estimates the cold chain industry to log a compound annual growth rate (CAGR) of 14-16% over the five fiscals through 2022, to about ` 500 billion from ` 250 billion in 2017. Bulk of the growth would be in the Temperature Controlled Warehouse (TCW) segment, which accounts for 90% of the industry revenue. Within this segment, multi-purpose cold storages dominate, and their share of segment revenue is estimated to rise from 77-79% in fiscal 2016 to 84-86% by fiscal 2022.
Moving ahead, in this Annual issue, we trace the history of technological advancements of cooling towers in industrial applications. In the article Asphyxiation Accidents in Refrigeration, the author explores asphyxiation as a personal safety hazard associated with refrigeration. Insightful article Ameliorating Value Chain by Food Processing suggests that the farmers are now growing more number of crops in a year in order to get periodic and expecting higher income. A shift from cultivation to market needs to be urgently transformed to market to cultivation to prevent gluts and prevent market prices below cultivation costs periodically.
While giving a glimpse of green building sector in India as an Engine of Green Growth, the author expects that the rate of green building in India is also only expected to grow over the coming years. According to the Dodge Data & Analytics World Green Building Trends 2016 SmartMarket report, global green building is expected to double every three years and emerging economies like China, India and Brazil will be engines of green growth.
Hope you enjoy reading this issue as much as we have in putting this together for you. Do send in your comments to me at firstname.lastname@example.org.
Publisher & Director