The import of lamp and lighting fitting parts of plastics to India is projected to increase steadily from 2024 to 2028, starting at 896.88 thousand kilograms and rising to 1028.5 thousand kilograms. The year-on-year growth for this period is approximately 3.8% to 3.3%, indicating consistent expansion. Given the historical trends up to 2023 and this forecasted data, the compound annual growth rate (CAGR) for the five-year period from 2023 to 2028 is calculated to be around 3.5%.
Looking ahead, India’s focus on infrastructure development and urbanization could further boost demand for lighting solutions. Additionally, advancements in smart lighting technology and an increased push for energy-efficient lighting might influence import dynamics, offering potential growth areas.
