The import of parts for air conditioners to India is forecasted to grow steadily from 2024 to 2028. Starting in 2024, the value is projected to be $443.58 million, with a progressive increase each year, reaching $496.75 million by 2028. The year-on-year variation shows a consistent rise; from 2024 to 2025, there's an increase of 3.09%, from 2025 to 2026 the growth is 2.94%, from 2026 to 2027 it is 2.79%, and from 2027 to 2028, the growth is 2.66%. Comparing with 2023 where the value stood at $429.8 million, the Compound Annual Growth Rate (CAGR) over these five years is anticipated to be approximately 3.01%.
Trends to watch:
- Emerging technologies and innovations in air conditioning systems could impact the demand for specific parts.
- Government policies and tariffs affecting import duties on air conditioner parts might influence future import values.
- Growth in construction and real estate sectors could drive higher import volumes to meet increased demand for air conditioning installations.