The import of electric motors and generators to India has shown fluctuations between 2013 and 2023. The value stood at $1,145.4 million in 2023, representing a 3.61% year-on-year increase from the previous year. The compound annual growth rate (CAGR) over the last five years, assuming the period ending in 2023, is approximately 2.47%.

Since 2018, there has been a significant upward trend, with notable spikes in 2018 and 2021, indicating increased demand or changing market conditions. However, the years 2019 and 2020 saw declines likely attributed to market corrections and pandemic impacts, respectively.

The forecast suggests a steady growth with a five-year CAGR of 2.63%, projecting the value to reach $1,353.7 million by 2028, marking a 13.83% total growth over this period.

Future trends to watch for:

Technological advancements in electric motors and generators and their adoption rates.
Policies and government initiatives promoting green energy and its effects on the market.
Economic factors influencing import demands and supply chain stability.