In 2023, the import of automatic electric resistance welding equipment to India stood at 950.00 thousand kilograms. The forecast from 2024 to 2028 shows a steady increase, with volumes rising from 965.19 to 1006.9 thousand kilograms. The year-on-year growth rate begins with a slight increase in 2024 at around 1.58%, progressing to approximately 1.01% by 2028. Over the five-year forecast period, the compound annual growth rate (CAGR) is approximately 1.16%, indicating modest but consistent growth.
Future trends to watch for include:
- The impact of technological advancements on welding processes, potentially reducing the demand for imports.
- India's industrial policies and infrastructure development which may influence the quantity of imported equipment.
- Shifts in global trade dynamics and their effect on import-export relationships.