Forecast: Import of Parts for Electric Motors and Generators to India

The data on the import of parts for electric motors and generators to India shows fluctuations from 2013 to 2023, with the value standing at 489.64 million USD in 2023. Notable trends include significant increases in 2015, 2016, and 2021, driven by a surge in industrial demands. There were sharp declines in 2014, 2017, and 2020, indicative of market adjustments and potential economic disturbances.

Year-on-year variations over the last two years show modest increases, with 0.78% in 2022 and 0.76% in 2023. The CAGR over the past five years from 2019 to 2023 is 1.93%, showing a steady, though modest, upward trend in imports. Forecasts for 2024-2028 suggest continued incremental growth with a 5-year CAGR of 0.61% and an overall forecasted growth rate of 3.09%.

Future trends to watch for include the increasing adoption of electric vehicles and renewable energy systems, which are likely to significantly impact the demand for electric motor and generator parts. Monitoring technological advancements and governmental policies promoting green energy could provide further insights into import trends.

- 2013: -21.55% YoY, -1.88% CAGR

- 2014: -5.7% YoY, 4.18% CAGR

- 2015: 13.35% YoY, -1.63% CAGR

- 2016: 39.79% YoY, -4.7% CAGR

- 2017: -26.2% YoY, -2.86% CAGR

- 2018: -7.02% YoY, 0.5% CAGR

- 2019: 6.61% YoY, 3% CAGR

- 2020: -16.31% YoY, -3.07% CAGR

- 2021: 21.45% YoY, -5.75% CAGR

- 2022: 0.78% YoY, 0.31% CAGR

- 2023: 0.76% YoY, 1.93% CAGR

- 2028: 0.61% 5-Year CAGR, 3.09% 5-Year Growth Rate