The import of gantry and overhead travelling cranes on fixed support to India is expected to decline from 2024 to 2028, starting at 672.72 thousand kilograms and reaching 339.95 thousand kilograms. From 2023, where imports were likely higher, a consistent downward trend is projected year-on-year. The annual decrease from 2024 to 2025 shows a significant drop of approximately 12.74%, with similar year-on-year reductions following. The five-year compound annual growth rate (CAGR) indicates a steady reduction, averaging roughly 12.68% annually.
Future trends to watch for include:
- Technological advancements and innovations in crane manufacturing that could impact import needs.
- The potential growth of domestic production capabilities reducing import reliance.
- Shifts in the construction and infrastructure sectors, which are primary users of such cranes, affecting demand dynamics.