In 2023, the import of parts of refrigerating or freezing equipment into India stood at 8.976 million kilograms. The forecasted data from 2024 to 2028 shows a year-on-year increase in this import volume. Specifically, the expected import volumes are:
- 2024: 9.2494 million kilograms (up 3.04% from 2023)
- 2025: 9.5391 million kilograms (up 3.13% from 2024)
- 2026: 9.823 million kilograms (up 2.98% from 2025)
- 2027: 10.101 million kilograms (up 2.83% from 2026)
- 2028: 10.374 million kilograms (up 2.71% from 2027)
The compound annual growth rate (CAGR) for the period from 2024 to 2028 is approximately 2.93%, indicating a steady growth trend in the import of these parts over the next five years.
Future trends to watch for include advancements in technology leading to more efficient refrigeration systems, shifts in regulations or tariffs affecting import volumes, and changes in consumer demand driven by evolving industry standards and environmental considerations.
