The import of spherical roller bearings to India is forecasted to witness a steady increase from 2024 to 2028. In 2023, imports stood at approximately 21.37 million. The year-on-year growth from 2024 to 2025 is projected at 4.8%, followed by a 4.5% increase in 2026. The subsequent years 2027 and 2028 are expected to grow by 4.2% and 4.0%, respectively. The compound annual growth rate (CAGR) over these five years is forecasted to be approximately 5.8%.
Future trends to watch for:
- Impact of domestic manufacturing initiatives on import dependency.
- Changes in global trade policies affecting costs and supply chains.
- Technological advancements and automation in the bearing industry.
