Indian HVAC market expects 16% CAGR by 2030
The Indian Green Building Council (IGBC) aims to improve the efficiency of operational equipment and increase the adoption of low carbon cooling systems, B. Thiagarajan, the newly appointed National Chairman, has stressed.
“With GreenPro Eco-Labelled building products made available across the country, I believe we can inspire industry stakeholders to embrace sustainability and facilitate India to become one of the foremost countries to achieve Net-Zero Carbon https://www.climatebonds.net/ by 2070,” he said in a release on 27 Apr 2024.
Citing a recent report, he noted that the demand for cooling has substantially increased and the Indian HVAC https://www.daikinindia.com/ market size is expected to see a CAGR of nearly 16% by 2030.
“We are committed to driving a transformative shift towards green building practices https://hitachi.co.in/ by addressing the key contributors to carbon footprint of buildings,” he underlined.
Thiagarajan, Managing Director of Blue Star Ltd, is leading the recently appointed environment-conscious committee for 2024-26.
C Shekar Reddy, the newly-appointed National Vice Chairman, added, “We have over 350 organizations committed to achieving Net-Zero status for new and existing buildings through IGBC’s Net-Zero – Energy, Water, Waste and Carbon Rating Systems https://www.greenplan.gov.sg/ .
“We believe that by doubling the Green Building https://igbc.in/ footprint by 2030 and addressing the bottom of the pyramid, the Indian Building Sector can accelerate its sustainability efforts with a greater impact on enhancing the health and well-being of every citizen of our country,” said Reddy, Managing Director of CSR Estates Ltd.
The IGBC has been at the forefront of driving sustainable practices across India. With over 35,000 professionals empowered through extensive outreach and capacity-building efforts, the centre continues to lead the nation towards a transformative shift and enables it to achieve Net-Zero Carbon Emissions by 2070.
IGBC was established by the Confederation of Indian Industry (CII) in 2001 to actively promote the Green Building concept in India. The Council is represented by all stakeholders of the construction industry comprising corporate, government, and nodal agencies, architects, product manufacturers, institutions, and more. The Council also closely works with governments, the World Green Building Council, and bilateral and multilateral agencies to promote green building concepts in India.
With a Green Building footprint of 11.62 billion sq. ft., and with over 13,260 projects adopting IGBC’s 32 rating systems, the Green Building movement in India has been advancing at a rapid pace and transforming India into one of the global leaders in green built environment. IGBC’s current stakeholder ecosystem consists of 29 Local Chapters across the nation, 7,100+ Accredited Professionals (IGBC APs), and 360+ student chapters. Fiinews.com
