In 2023, the import value for jacks and hoists, excluding hydraulic and garage hoists, to India was stable. From 2024 onwards, forecasts indicate a gradual upward trend with values increasing from 26.106 million USD in 2024 to 27.464 million USD by 2028. This represents a steady annual increase, highlighting a growing demand for these products in the Indian market.
- Year-on-year growth from 2024 to 2025 is expected to be around 1.34%.
- From 2025 to 2026, a similar growth of approximately 1.30% is anticipated.
- Growth from 2026 to 2027 and 2027 to 2028 is projected at 1.26% and 1.21%, respectively.
- The compound annual growth rate (CAGR) over this five-year forecast period is about 1.28%.
Future trends to watch for include technological advancements in hoisting equipment, changes in industrial demand, and potential impacts from regulatory changes. These factors could significantly influence future import values and market dynamics in India.
