The import volume of automatic electric plasma and other arc welding equipment to India is projected to grow consistently from 2024 to 2028. In 2023, the import volume stood at a lower level than the forecasted 2024 mark of 604.12 thousand kilograms. Year-on-year growth shows a steady increase, with a consistent uptick, reaching 678.12 thousand kilograms by 2028. This trend reflects a Compound Annual Growth Rate (CAGR) calculated over the five-year forecast horizon.
Future trends to watch for include:
- A potential increase in domestic production of welding machinery, which may impact import levels.
- Technological advancements and automation within the industry that could alter demand dynamics.
- Changes in manufacturing and infrastructure sectors in India, driving further demand for welding equipment.
