In 2023, the import value of thermostats to India was recorded at $31.95 million. Entering 2024, the forecasted imports are valued at $33.24 million, marking a year-on-year increase of approximately 4%. Continuing this positive trend, the data suggests gradual annual increases in thermostat imports: 4.28% in 2025 ($34.663 million), 4.03% in 2026 ($36.057 million), 3.79% in 2027 ($37.423 million), and 3.58% in 2028 ($38.763 million). Moreover, the last CAGR over the five-year period from 2024 to 2028 stands at 3.93%.
Future trends to watch for include the rising adoption of smart home technologies, increased urbanization and housing development, and policy changes favoring energy-efficient devices. These factors are likely to sustain or potentially boost the import growth of thermostats in the coming years.
