Indian HVAC market size stood at USD 11.8 billion in the year 2024 and is projected to reach USD 29.4 billion in the year 2030, thereby registering a CAGR of 16.3% in this period. There are multiple factors driving the growth of this market, such as rapid infrastructure development, technological advancements, rising disposable income of the populace and increasing ventilation and cooling demands. Heating, Ventilation and Air Conditioning or HVAC refer to systems that heat and cool, control humidity and improve the indoor air quality in homes, industrial establishments and commercial spaces. There are multiple components coming under HVAC, such as AC units, air handlers, heat pumps, furnaces, dehumidifiers and more. HVAC market features both global players and new entrants. Let’s have a look at the top 10 leading HVAC companies for the year 2025

1. Blue Star Limited

Blue Star Limited, founded in the year 1943, specialises in HVAC solutions and commercial refrigeration. It provides multiple types of room air conditioners like inverter split ACs, fixed speed split ACs and window ACs, air coolers and air purifiers. The product portfolio of the company also includes air-to-water heat pumps, air-to-air heat pumps, central air conditioning systems like VRF systems, ducted systems and chillers, and commercial refrigeration solutions like chillers, freezers, medical refrigeration products and vaccine storage products.

Blue Star Limited operates 7 manufacturing facilities and four state-of-the-art research and development centres across India. The company has a network of over 10,000 retail outlets and 2100 service centres across 900 cities in India.

2. Havells India Limited

Havells India Limited, established in 1958, is a leading manufacturer of fast moving electrical goods with a diverse offering of electrical products, including air conditioning systems, air purifiers and air coolers. It manufactures and sells multiple kinds of high-end split ACs, window ACs, portable ACs and cassette ACs under the brand name Lloyd. Various types of air coolers like desert, window, personal and tower coolers, and air purifiers like AP 250 and AP 400 are also provided by the company.

Havells manufactures 90% of its finished products in India. To this end, it operates 15 manufacturing facilities across 8 locations in India.

3. Voltas Limited

Voltas Limited, established in the year 1954, is a part of the Tata Group. It is a leading brand in the air conditioning segment with a wide range of air conditioning systems, such as adjustable inverter ACs, all weather ACs, split ACs and window ACs, featuring in the product portfolio. The company also offers other HVAC products like desert/room/tower/personal  coolers and air purifiers equipped with 6-stage air purification technology.

Voltas operates 22 manufacturing facilities across 8 countries along with 20 research and development centres.

4. Daikin Airconditioning India Private Limited

Daikin Airconditioning India Private Limited, established in the year 2003, is a subsidiary of Daikin Industries Limited, Japan. It is a leading manufacturer of a wide range of residential and commercial air conditioning systems, such as split ACs, floor standing ACs, ducted ACs, cassette ACs, VRV ACs, roof top ACs and chillers. The company also offers air purifiers equipped with electrostatic HEPA filters and other state-of-the-art features.

Daikin India has a large network featuring more than 700 authorised service providers, 29 sales and service offices and more than 225 solution plazas.

5. Carrier India

Carrier India, established in the year 1986 as a part of the multinational Carrier Airconditioning and Refrigeration Limited, is among the leading providers of high-technology heating, air-conditioning and refrigeration solutions in the Indian HVAC market. It offers a wide range of products, such as ducted ACs, VRF ACs, cassette ACs, air handlers, chillers, heat pumps and fan coils, to meet the HVAC needs of both residential and commercial buildings.

Carrier India operates a state-of-the-art automated manufacturing facility spread over 19 acres in Gurgaon, Haryana. It has over 900 sales and service channel partners throughout India.

6. Mitsubishi Electric India Private Limited

Mitsubishi Electric India Private Limited, established in the year 2010, is a part of the Japanese multinational giant, Mitsubishi Group. It manufactures a wide range of electrical and electronic products, including HVAC systems, for the Indian market. The company offers multiple kinds of high-performance air conditioning systems, such as split ACs, city multi VRF systems, ducted ACs, floor standing ACs, ceiling mounted cassette ACs, air curtains and more. Ventilation systems also feature among the products.

Mitsubishi India operates two manufacturing facilities, located at Pune and Bangalore. It has a network of 24 sales offices located in all major cities of India.

7. Johnson Controls

Johnson Controls, established in the year 1885, is a specialist in HVAC equipment, industrial refrigeration and building automation with presence in over 150 countries, including India. It offers a large portfolio of HVAC equipment for apartment buildings, factories, offices, schools, hospitals, warehouses and other establishments. The HVAC product line-up includes chillers, hybrid cooling systems, air handling units, air distribution units and ventilation systems.

8. Samsung India Electronics Private Limited

Samsung India Electronics Private Limited, established in the year 1995, is a part of the multinational consumer electronics giant, Samsung. It offers a diverse range of electronic appliances, including HVAC equipment. The HVAC segment includes feature-rich split ACs, VRF ACs, chillers, indoor ERV units, controller units for HVAC systems and air purifiers.

9. LG Electronics India Private Limited

LG Electronics India Private Limited, established in the year 1997, is a wholly owned subsidiary of LG Electronics. It offers a wide range of consumer electronic products, including air conditioning systems and air purifiers. Air conditioning systems are available in both split and window variants with various capacities. Air purifiers provide 3-6 step filtration and are equipped with Wi-Fi enabled controls.

10. Kirloskar Brothers Limited

Kirloskar Brothers Limited, founded in the year 1888, offers a wide range of pumps and systems for HVAC and refrigeration equipment. Multiple types of HVAC pumping systems for large establishments like factories, malls, IT parks, airports and others are provided by the company. Pump types include horizontal split case pump, end suction pump and vertical inline pump.

Conclusion

Indian consumers are increasingly shifting towards smart HVAC systems. Consequently, the top companies and other manufacturers are investing heavily towards developing smart features like IoT based controls, building automation and advanced real-time monitoring.