In 2023, India's import of oil or petrol filters for internal combustion engines was valued at approximately 12.63 million. From 2024 to 2028, the forecasted import values indicate a steady increase, with annual growth rates of around 4.44% to 3.61%, suggesting a mild acceleration in demand.
Year-on-year, the import value is expected to grow by approximately 4% between 2024 and 2025. From 2025 to 2026, it shows an increase of around 4.17%, while from 2026 to 2027, a rise of approximately 3.91% is anticipated. The growth remains consistent through to 2028, which showcases a year-on-year growth of around 3.69% compared to 2027. The average compound annual growth rate from 2024 to 2028 is approximately 4.02%.
Future trends to watch include:
- The adoption of cleaner and alternative energy vehicles which might impact internal combustion engine component imports.
- Fluctuations in international trade policies that could affect the importation of these filters.
- Technological advancements in filter efficiency and longevity could alter import demand.
