The import of shock absorbers for motor vehicles to India is forecasted to increase consistently from 2024 to 2028, showing a steady growth trajectory. Starting from a value of USD 132.69 million in 2024, imports are projected to rise to USD 154.62 million by 2028. This represents a compound annual growth rate (CAGR) over the five-year period, indicating sustained demand for these automotive components. Specifically, year-on-year increases are observed, manifesting a stable upward trend that reflects the expanding automotive sector in India as of 2023.
Future trends to watch for in this market include potential impacts from governmental policy changes on automobile imports, technological advancements in shock absorber manufacturing, and shifts in consumer preferences towards electric and hybrid vehicles, which may influence the types and specifications of shock absorbers demanded in the market.
