In 2023, the import value of derricks, cranes, straddle carriers, and crane trucks to India stood at 447.10 million USD. The forecast indicates a steady year-on-year increase, with anticipated values reaching 472.08 million USD by 2028. The year-on-year growth rates from 2024 to 2028 are modest, reflecting a consistent upward trend in import demand. The compound annual growth rate (CAGR) over this period stands at approximately 1.09% annually, demonstrating a stable but gradual increase in import activity.
Future trends to watch for include technological advancements in crane manufacturing, which could influence import preferences. Additionally, shifts in India's infrastructure policies may significantly impact import volumes and values.
