The import of non-electric industrial or laboratory furnaces and ovens to India is projected to decrease steadily from 2024 to 2028, starting at 102.59 million USD in 2024 and declining to 83.85 million USD by 2028. Compared to 2023, where the import value was at 107.12 million USD, this represents a noticeable downward trend with a Compound Annual Growth Rate (CAGR) of approximately -5% over the forecast period. The trend reflects a contraction in import volumes.
Future trends to watch for include:
- Shifts in domestic production capabilities that could reduce reliance on imports.
- Changes in international trade policies affecting import costs.
- Technological advancements in manufacturing that could alter demand.
