The forecasted import of locks for furniture made of base metal to India shows a consistent decline over the period 2024 to 2028. Starting from 517.51 thousand kilograms in 2024, the imports are expected to decrease progressively to 471.9 thousand kilograms by 2028. This represents a continuous downward trend, with a year-on-year decline of approximately 2.3% on average. The Compound Annual Growth Rate (CAGR) over this period suggests an average annual decrease.
Future trends to watch for include potential shifts in India's furniture manufacturing sector, such as increased domestic production or changes in demand for base metal locks. Additionally, technological advancements or alternate materials influencing lock preferences may further impact import volumes.
