The import of parts for domestic non-electric thermic appliances to India is anticipated to increase steadily from 2024 to 2028, with projected quantities rising from 3.7581 million kilograms to 4.356 million kilograms. By considering the data provided, the expected year-on-year growth rate is approximately 4% during this period. To compare, in 2023, the volume stood slightly lower, providing a compound annual growth rate (CAGR) of around 3.8% for the understanding of the market's overall expansion over the considered period.
Future trends to watch for include:
- Potential impacts of government policies promoting local manufacturing.
- Evolving consumer preferences towards more energy-efficient appliances.
- Global supply chain adjustments and their effects on import levels.
