The import of air conditioning equipment and machinery to India has been projected to grow consistently from 2024 to 2028. The data shows that imports were valued at 1.5904 billion USD in 2024 and are forecasted to reach 1.8254 billion USD by 2028.
From 2023 to 2024, there was an anticipated year-on-year variation. The imports were at a certain value in 2023, and from that point, they enhanced steadily:
-2024 to 2025: ~3.80% increase
-2025 to 2026: ~3.60% increase
-2026 to 2027: ~3.40% increase
-2027 to 2028: ~3.20% increase
Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) stands at approximately 3.50%, indicating a moderate and stable upward trend in the import of air conditioning equipment and machinery to India.
Future trends to watch for include advancements in energy-efficient technologies, shifts in consumer preferences towards sustainable solutions, and potential changes in import regulations or tariffs. Additionally, the ongoing urbanization and rising middle-class incomes in India could further drive the demand for air conditioning equipment and machinery.