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Manufacturing
Chemical, petrochemical, automotive, aerospace, semiconductor, textile, pulp and paper, metal processing, wood processing, and plastic and rubber manufacturers are the lists of end-users considered under the manufacturing industry. Of which, the highest demand for industrial cooling, heating, and refrigeration systems is expected to stem from the automotive, paper and pulp, aviation, and textile industry by 2020.
The automotive industry is the primary end-user of industrial cooling, heating, and refrigeration. In 2015, the global passenger car sales accounted for 88.86 million units. MNC automobile manufacturers such as Ford, Volkswagen, BMW, Toyota Motors, Honda Motors, Daimler, Fiat, and Tata Motors are making substantial investments in production facilities in developing countries such as India, Thailand, and Mexico. Thus, rising sales, greater demand for automobiles, and increased investment in the automotive industry will spur the need for capacity expansion, creating demand for HVAC systems over the next four years.
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