The import of parts for spark-ignition engines, excluding aircraft, to India is forecasted to grow from 32.758 million kilograms in 2024 to 37.393 million kilograms by 2028. The actual value for 2023 was not provided, which limits the precision of year-on-year variation and CAGR calculations; however, based on the forecasted data from 2024 onwards, there is a consistent annual growth of around 3-4% in volume.
Future trends to watch for include:
- Advancements in engine technology and environmental regulations potentially affecting demand and import volumes.
- Changes in global trade policies or disruptions that might impact supply chains.
- Increased domestic production capacity as India seeks to boost its manufacturing sector.