In 2023, the import of parts of pumps for liquids to the US was valued at $3.745 billion. The forecasted data from 2024 to 2028 shows a steady increase each year, with values rising from $3.9187 billion in 2024 to $4.2815 billion in 2028. This indicates a continuous growth trajectory with an average annual growth rate (CAGR) over these five years.
Considering the year-on-year variation, the growth rates are as follows:
- 2024 - 4.6%
- 2025 - 2.4%
- 2026 - 2.3%
- 2027 - 2.2%
- 2028 - 2.1%
The five-year CAGR stands at approximately 2.7%, reflecting a sustainable growth trend.
Future trends to watch for include potential impacts from technological advancements in pump parts, as well as shifts in global trade policies which may affect pricing and supply chains.
