How does RATA help HVACR industry to raise its concern?
Refrigeration and Air-Conditioning Trades Association (RATA) is a 70-year-old association focused on the techno commercial aspects of the business and is an association of the micro small medium sized enterprises in field of HVACR. The Association brings together people from the entire industry and gives them a central forum to help them accomplish their common goal of making progress and achieving success. It is a forum for an organisation in the field of HVACR to come together and collaborate on how to grow the market and help each other scale up their businesses.
What are the growth drivers of the commercial refrigeration sector?
The focus of the government on a seamless flow of farm produce from the farm to the fork will ensure the growth of the industry. This would also help farmers to get better value for their produce.
According to you, where will future industry growth come from?
We expect it from Variable Refrigerant Flow for commercial air conditioning. Residential sector will also escalate the growth of air-conditioning.
What are the trends in the sector?
The Variable Refrigerant Flow (VRF) segment is the fastest segment in the air conditioning growth story, while the residential segment will grow aggressively for air conditioning year-on-year for the next decade. Internet of Thing (IoT) devices will help to manage the refrigeration industry effectively. They would help in energy efficiency and trouble shooting.
What are your expectations from the government for the growth of the HVACR sector?
We expect the government to reduce GST from the current 28 per cent to 18 per cent. Further, availability of uninterrupted power supply in tier 2 and tier 3 cities will help to grow the industry.
How does the future look like for HVACR industry?
The HVACR industry is poised for aggressive growth in the next two decades. The air conditioning industry is expected to grow eight times from the current 2018 baselines while the refrigeration industry is still at an early stage. It will evolve rapidly with the continued focus it receives from the government.
What are your suggestions to the Indian HVACR sector?
The MSMEs need to organise themselves to tap the huge growth opportunity by accepting digital transformation of their business practices especially in customer data and human resource management. This will help to bring in the desired efficiency and profitability to their current operations.