As of 2023, the import volume of metal broaching machines to India stood at 95.21 thousand kilograms. Moving forward, the forecasted data presents a downward trend:
- In 2024, the imports are expected to be 79.39 thousand kilograms, representing a -16.6% decrease from 2023.
- In 2025, it is forecasted to drop to 63.11 thousand kilograms, a -20.5% decrease from the previous year.
- In 2026, the volume is expected to fall further to 47.15 thousand kilograms, marking a -25.3% reduction compared to 2025.
- By 2027, it’s projected to reduce to 31.51 thousand kilograms, a -33.2% decrease from 2026.
- In 2028, the import volume will potentially decrease to 16.18 thousand kilograms, constituting a -48.6% decrease from the previous year.
Over the period from 2023 to 2028, the compound annual growth rate (CAGR) is a negative -25.7%, indicating a significant downward trend in the import volumes of metal broaching machines to India.
Future trends to watch for:
- Advancements in local manufacturing capabilities and the adoption of new technologies.
- Changes in trade policies or import regulations that could impact the import volumes.
- Developments in the global supply chain, particularly related to the metalworking industry.
- Shifts in demand due to evolving industrial requirements and economic conditions.
