The import of motor vehicle mountings and fittings of base metal to India is projected to consistently grow from 2024 to 2028, starting at $56.522 million in 2024 and reaching $63.909 million by 2028. This indicates a steady year-on-year increase, with percentages ranging around 3-4% annually.
In 2023, the actual import value stood below this forecast starting point. Over the five-year forecast period from 2024 to 2028, the compound annual growth rate (CAGR) is anticipated to maintain an average increase of approximately 3.05%.
Future trends to watch for include potential changes in global trade policies, evolving automotive industry demands, technological advancements in vehicle mountings, and any emerging environmental regulations that could impact metal usage and supply chains.
