In 2023, the import value of reciprocating spark ignition engines with a cylinder capacity exceeding 1000 cc to India was estimated at around 400,000. Starting from this base, the forecasted values from 2024 to 2028 show a consistent upward trend, increasing from 414.41 thousand in 2024 to 483.31 thousand in 2028. This marks an overall upward progression, with a year-on-year percentage increase ranging from approximately 4% to 5% annually.
Key future trends to watch include:
- Potential policy changes affecting import tariffs and regulations.
- Shifts in consumer preferences towards higher-capacity engines in the automotive market.
- Technological advancements that could influence engine efficiency and demand.
- Evolution in domestic production capabilities potentially impacting import dependency.