In 2023, the import value of gas turbine engines to India, not exceeding 5000 kW, stood at $48 million. The forecasted data indicates a steady upward trend from 2024 to 2028, with the value increasing from $51.139 million to $62.197 million. The growth exhibits year-on-year percentage increases of approximately 5.57% to 4.51% annually from 2024 onwards. The compound annual growth rate (CAGR) for this period is projected to be around 5%.
Looking ahead, trends to monitor include advancements in renewable energy integration, shifts in regulatory policies impacting import and energy efficiency, and the potential rise in local production capabilities, which could influence future import volumes.
