India's import of non-electric heaters with a fan made of iron or steel stood at actual values in 2023. From 2024, a steady growth is forecast, with imports increasing from 971.4 thousand USD to 1,104.6 thousand USD by 2028. From 2024 to 2025, a year-on-year increase of approximately 3.5% is anticipated. Over the next two years, this upward trend is expected to continue, with annual growth rates ranging around 3.3% to 3.8%. The compound annual growth rate (CAGR) for the forecast period from 2024 to 2028 approximates 3.3%.
Future trends to watch for include:
- Technological advancements in energy-efficient heating solutions.
- Shifts in policy regarding import tariffs which may impact costs.
- Fluctuations in steel prices affecting manufacturing costs.
- Consumer demand for eco-friendly appliances.
