In 2023, India's import of compression refrigeration equipment with heat exchange stood at 349.12 thousand kilograms. The forecast for 2024 is 341.24 thousand kilograms, indicating a year-on-year decrease of approximately 2.3%. By 2025, this figure is expected to decline further to 333.33 thousand kilograms, a yearly decrease of around 2.3%. For 2026, the anticipated value is 325.58 thousand kilograms, which continues the downward trend with a 2.3% decline. Similarly, in 2027, the import volume is projected to be 317.98 thousand kilograms (2.3% decrease), and by 2028, it is estimated to reach 310.53 thousand kilograms, a decrease of approximately 2.3% per year on average.
This consistent reduction over the forecast period demonstrates a compound annual growth rate (CAGR) of -2.3% from 2024 through 2028. Key future trends to watch for include the impact of technological advancements in refrigeration, potential shifts in domestic manufacturing capabilities, and evolving environmental regulations that may affect demand for imported refrigeration equipment.
