The import of electric cooking, grilling, and roasting equipment to India showed considerable volatility from 2013 to 2022, with a notable decline from 107.89 million USD in 2013 down to 57.54 million USD in 2015. After hitting a low in 2016, there was a recovery phase with fluctuations, reaching 79.668 million USD in 2022. In 2023, the value stood at 81.65 million USD, marking a moderate 2.49% year-on-year increase. The year-on-year growth rates and CAGR over the years indicate a period of significant contraction followed by modest growth stabilities. Looking at the forecast from 2024 to 2028, there is a projected steady growth with a forecasted CAGR of 1.87% over the next five years, culminating in a total growth rate of 9.72% by 2028.
Future trends to watch for:
- Impact of technological advancements in electric cooking appliances, driving new imports.
- Government regulations and import tariffs that might affect future import volumes.
- Shifts in consumer behavior towards eco-friendly and energy-efficient appliances.
- Potential disruptions in global supply chains affecting the availability of these products.
