Between 2013 and 2023, the import of diesel-powered buses to India exhibited significant fluctuations, ranging from an initial value of 1.3725 million USD in 2013 to 5.9816 million USD in 2023. This growth translates to numerous drastic year-on-year variations, reaching a peak of 290.15% in 2017, contrasted by declines like -71.05% in 2018. The CAGR over the past five years up to 2023 stood at 13.43%, indicating overall growth despite volatility.

Looking forward from 2024 to 2028, the forecast suggests a more stable increase, with the value projected to reach 6.8523 million USD by 2028. The five-year CAGR is predicted at 2.19%, showcasing a tempered but consistent growth pattern, resulting in an overall five-year growth rate of 11.45%.

Future trends to watch for:

Changes in India’s environmental policies and possible gradual shifts towards electric or alternative energy-powered buses.
Fluctuations in global oil prices which could impact import volumes.
Technological advancements and market demand in the automotive and public transport sectors.