The import value of Furniture, Lighting, Signs, and Prefabricated Buildings to India stood at 2.3602 Billion USD in 2024, marking the start of forecasted data. This represents a recovery and upward trend from previous years. Based on the forecast, imports are projected to increase each year modestly, reaching 2.7115 Billion USD by 2028. The annual growth rate from 2024 to 2028 ranges from approximately 3.83% to 2.92%, indicating a healthy expansion in this market segment. The five-year compound annual growth rate (CAGR) from 2023 to 2028 is projected to be steady at around 3.52%.
Future trends to watch for:
- Emerging market demands and urbanization in India, which could drive up the import of premium and smart furniture.
- Changes in trade policies and tariffs, impacting import costs and volumes.
- Increasing focus on sustainable and eco-friendly materials, potentially influencing import composition and values.
- Technological advancements in lighting and smart home solutions, boosting demand for innovative products.
- Economic factors such as exchange rates and inflation, which could affect import pricing and volumes.