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Refrigeration and Air Conditioning Industry:

Industrial refrigeration can be defined as the equipment and accessories projected to remove heat from large-scale processes or materials, lowering the temperature to a desired value.

• Depending on different parameters like the production scale, temperature difference, accuracy or expected temperature, there are multiple methods used to apply industrial refrigeration.
• Industrial refrigeration has been of paramount importance since the early years of the twentieth century. Historically, industries like Food and Beverages, Pharmaceuticals or Petrochemicals, achieved important developments thanks to systems indicated for reducing the temperature of their products or processes, or conserving them in optimal conditions to avoid safety issues.

Air conditioning, often abbreviated as A/C or AC, is the process of removing heat and controlling the humidity of air in an enclosed space to achieve a more comfortable interior environment by use of powered "air conditioners" or a variety of other methods, including passive cooling and ventilate cooling. Air conditioning is a member of a family of systems and techniques that provide heating, ventilation, and air conditioning (HVAC).

• India Industrial Refrigeration Systems market is primarily driven by growing demand for cold storage facilities in the country coupled with the growing government investment for the expansion of the pharmaceuticals industry in India. Currently in India, over 6,000 cold storages are available which accounts for only, 45% of the required cold storage facilities. However, the Indian region has registered a decline in demand during 2020, due to the global pandemic COVID-19, which has led to a complete lockdown in the region during the first half of 2020, leading to slowdown businesses in the region.
• A growing number of middle-class households and rising buying power would continue to accelerate the demand for room split air conditioners (ACs) in India. Increasing office and retail spaces in the country along with booming tourism and hospitality sectors are also contributing to the healthy growth of the Indian air conditioner market.
• Refrigeration and Air-Conditioning Manufacturers Association of India (RAMA) is an apex forum of the industry leaders and representatives of major manufacturers including MNCs in the Refrigeration and Air Conditioning industry in India. It is affiliated to Confederation of Indian Industry (CII).
• Air conditioning companies like Voltas, Thermax, HLE Gascoat etc. are the key competitors of the company.