Between 2024 and 2028, the forecasted import value of buses to India shows a steady upward trend. Starting from a value of 7.0615 million USD in 2024, there is a year-on-year growth, reaching 7.6726 million USD by 2028. This consistent increase represents an upward trajectory in the import market for buses.
Key Observations:
- The year-on-year growth rates are: 2.23% from 2024 to 2025, 2.14% from 2025 to 2026, 2.05% from 2026 to 2027, and 1.97% from 2027 to 2028.
- The CAGR (Compound Annual Growth Rate) over the period from 2024 to 2028 is approximately 2.10%.
Looking ahead, the rising demand for public transportation, urbanization, and governmental push for sustainable and efficient public transport infrastructure are likely to drive this upward trend further. Factors such as economic policies, fuel prices, and advancements in electric bus technologies will be crucial to monitor in the future.
