The value of thermostat imports to India in 2023 stands at 44.19 million USD. Forecasts for 2024 and beyond show a consistent increase: 46.13 million USD in 2024, 47.903 million USD in 2025, 49.64 million USD in 2026, 51.343 million USD in 2027, and 53.011 million USD in 2028. The year-on-year percentage variation reveals an increasing trend: a 4.4% rise from 2023 to 2024, a 3.8% rise from 2024 to 2025, a 3.6% rise from 2025 to 2026, a 3.4% rise from 2026 to 2027, and a 3.2% rise from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the forecast period (2024-2028) averages around 3.68%.
Expect future trends to reflect growth in the smart home industry and rising urbanization influencing thermostat demand. Watch for technological advancements, increased energy efficiency policies, and potential tariff changes that could impact import value.
