The forecast for the import of shock absorbers into India indicates a steady increase from 2024 through 2028. As of 2023, the actual imports stood at approximately 13.75 million kilograms, marking a significant upward trend projected over the next five years. The year-on-year increase showcases consistent growth, with percentages averaging around 4% annually. The compound annual growth rate (CAGR) for the 2024-2028 forecast period suggests around a 4% rise each year, signaling steady demand growth.
Future trends to watch include:
- Potential impact of increased domestic production capabilities.
- Technological advancements in shock absorber efficiency.
- Shifts in automotive industry policies and global supply chain dynamics.
