The forecast for the import of air conditioners without refrigerating units into India projects a steady increase from 2024 through 2028, with values rising from $121.98 million in 2024 to $142.98 million in 2028. For context, the actual import value in 2023 was $117.67 million. Analyzing year-on-year variations, the growth rates for 2024 and 2025 are expected to be around 4.5%, with a similar trend observed in subsequent years. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is estimated at approximately 4%.
Future trends to watch for include technological advancements in energy efficiency, shifts towards environmentally friendly units, and policy changes regarding import tariffs that could influence market dynamics. Additionally, the growth of India's middle-class population and increasing urbanization are likely to further drive demand for these air conditioning units.
