In 2023, the import of buses except diesel-powered to India stood at approximately 60 thousand kilograms. The forecast indicates a significant downward trend from 2024 to 2028, with a consistent year-on-year decline. The volume decreases from 50.44 thousand kilograms in 2024 to 16.64 thousand kilograms by 2028, marking a compound annual growth rate (CAGR) decline over these five years. This suggests a yearly reduction as alternative and cleaner transportation options are adopted and local production capacities potentially improve.
Future trends to watch for:
- India's push towards electric and hybrid buses influencing import dynamics.
- Policy changes affecting import tariffs and local manufacturing incentives.
- Technological advancements in local bus manufacturing capacities.
