In 2023, imports of hydraulic turbines and water wheels of a power not exceeding 1000 kW stood at 165 units. Forecasts predict a decline in imports from 160 units in 2024 to 138 units by 2028, indicating a gradual decrease over these years.
Year-on-year analysis shows a progressive decline in imports: a 3.75% drop in 2025, a 3.25% dip in 2026, a 4.02% decrease in 2027, and a 3.5% decline in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately -3.5%, suggesting a steady downward trend.
Future trends to watch for:
- Technological advancements in alternative renewable energy sources.
- Policy changes impacting renewable energy investments.
- Potential changes in domestic production capabilities or outsourcing trends.
