The import of steam and vapour turbines to India, measured by volume in thousand kilograms, has shown a declining trend from 2016 to 2020. The values have reduced consistently year-on-year, indicating a significant downturn in imports over this period. Specifically, the CAGR over these five years reflects a substantial decrease annually. By 2023, this import volume trend had reached notably lower levels.
Looking ahead, potential future trends to watch include shifts in domestic production capabilities, strategic energy policy changes aimed at reducing dependency on imports, and advancements in turbine technologies that could impact import volumes. These factors could significantly influence the forecasted data beyond 2024.
