Carrier AC Unlisted IPO, Share Price and Upcoming IPO Info

Carrier AC Unlisted Shares Essentials Discover and get a complete analysis on Carrier AC Pre IPO - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on Carrier AC Financial Statements.

About Carrier AC • Carrier is one of the popular brands in the commercial air conditioning segment. In 2012 it joined hands with the Chinese air conditioning manufacturer Midea to foray deeper into the Indian residential market.

• The joint venture brought together Midea’s design and manufacturing expertise in residential air conditioning and Carrier’s strong PAN-India distribution network. The resulting synergy made CMI (Carrier Midea India) an important player in the residential air conditioners segment in India.

• CMI offers offer myriad of AC models catering needs of varied customers.

For commercial users, they offer cassette and VRF (variable refrigerant flow) systems and ducted ACs while residential it offers windows and split air conditioners.

• Carrier Midea India has a factory at Bawal, Haryana which is one of India’s largest AC manufacturing plants with a capacity to produce over 7 lakhs ACs per year with plans to increase it to 1 million in upcoming years.

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Toshiba Carrier Corporation announced its establishment of Toshiba Carrier Air-Conditioning India Private Ltd., a joint venture with United Technologies Corporation, in Gurgaon, Haryana, India. The new joint venture, incorporated on August 14, 2018, and headquartered in the premises of Toshiba India Private Ltd., allows Toshiba Carrier to localize planning, development, manufacturing, and sales of its commercial air conditioning products, expanding its footprint in the country.

Carrier AC Industry Overview

Industry Statistics • The Indian HVAC (Heating, ventilation, and air-conditioning) systems market size was valued at ₹ 61,392 crores in 2019 and has projected to register a CAGR of 16.1% from 2020 to 2030.

• Increasing urbanization and the emergence of energy-efficient HVAC systems are the factors driving the market growth.

• Furthermore, the governments are engaged in promoting the usage of energy-efficient HVAC units by offering incentives and rebate programs.

Such programs and initiatives are also anticipated to drive market growth over the forecast period.

• The demand for HVAC equipment is rapidly increasing owing to growing spending in the construction sector and rising disposable incomes across major economies.

• Another major factor contributing to the high demand for HVAC equipment across the country is climate change.

• The India HVAC market growth is being negatively affected by the COVID-19 scenario, both on the demand and supply sides. Due to the lockdowns imposed in several countries to curb the spread of the disease, the manufacturing and import of such equipment to India have been severely hit.

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