In 2023, the recorded imports of reciprocating spark ignition engines with a cylinder capacity of 250-1000 cc into the US stood at a lower benchmark than the forecast starting in 2024. The forecast for 2024 shows a starting point of 507.96 thousand units, with a steady year-on-year increase leading to 536.45 thousand units by 2028.
The annual growth rates are measured at:
- 2024 to 2025: 1.44%
- 2025 to 2026: 1.40%
- 2026 to 2027: 1.35%
- 2027 to 2028: 1.30%
The compound annual growth rate (CAGR) over this five-year forecast period averages approximately 1.37%.
Future trends to watch for include shifts in consumer preferences toward electric vehicles, which could impact the demand for traditional spark ignition engines. Additionally, regulatory changes and advancements in alternative fuel technology might also influence import patterns and market dynamics. Monitoring these trends will be critical for adjusting forecasts and strategies in the automotive sector.
