In 2023, the import value of tower cranes to India was recorded at approximately 12.3 million USD. From 2024, the forecast suggests a downward trend, with import values decreasing each year from 11.557 million USD in 2024 to 8.4179 million USD by 2028. This indicates a clear annual decline in imports. The year-on-year percentage decrease begins at around 7% in 2025 and slightly tapers off in subsequent years, while the compound annual growth rate (CAGR) for the period 2024-2028 is approximately -6.8%, highlighting a consistent reduction in imports.

Key future trends to watch for include:

Technological advancements in domestic crane manufacturing could further reduce dependency on imports.
Policies supporting infrastructure development may affect demand for tower cranes significantly.
Fluctuations in global supply chain conditions and currency exchange rates may impact import volumes and values.