In 2023, the import of lamp and lighting fitting parts made of plastics into India stood below the forecasted 2024 value of $6.6504 million. From 2024 to 2028, imports are projected to increase steadily, reflecting confidence in a 3-4% annual growth rate.
- 2024: $6.6504 million
- 2025: $6.8741 million
- 2026: $7.0934 million
- 2027: $7.3082 million
- 2028: $7.5188 million
The Compound Annual Growth Rate (CAGR) over the five-year forecast period is approximately consistent, depicting a positive trend driven by increasing demand for plastic components in the lighting industry.
Future trends to watch include advancements in sustainable materials and their potential impact on imports, geopolitical trade developments affecting supply chains, and technological innovations that may alter demand dynamics in the Indian market.
