In 2023, the import value of instantaneous gas water heaters to India stood at 17.75 million USD. The forecasted data from 2024 onwards suggests a steady growth trajectory, with import values increasing each year, reaching 20.808 million USD by 2028. Year-on-year growth rates indicate a consistent increase ranging between 3.3% and 3.7%. The compound annual growth rate (CAGR) for the 2024-2028 period is approximated at 3.5%.

Future trends to watch for:

Innovation in energy-efficient technologies could drive higher demand.
Government policies on sustainable energy use may impact import volumes and values.
Fluctuations in global energy prices could influence cost and, consequently, market demand.