In 2023, the import value of gas turbine engines to India stood at 3.7800 Billion US Dollars. Comparing this to the forecasted figures, the value is set to increase steadily each year, reaching 3.9575 Billion US Dollars in 2024, and further growing to 4.7409 Billion US Dollars by 2028.
The year-on-year variation shows a consistent upward trend:
- From 2024 to 2025: +5.09%
- From 2025 to 2026: +4.75%
- From 2026 to 2027: +4.45%
- From 2027 to 2028: +4.18%
The compound annual growth rate (CAGR) over these five years is projected to be approximately 4.72%, reflecting a strong and steady increase in demand for gas turbine engines in India.
Future trends to watch for include the impact of government policy changes on energy infrastructure, technological advancements in turbine efficiency, and fluctuations in global energy prices. Additionally, the growth of alternative energy sources may influence long-term demand trends for gas turbine engines.
