In 2023, India imported $382.1 million worth of gearing, ball screws, speed changers, and torque converters. The forecast from 2024 to 2028 shows a consistent year-on-year growth: 2.3% (2024), 2.3% (2025), 2.2% (2026), 2.1% (2027), and 2.0% (2028). The Compound Annual Growth Rate (CAGR) over this period is approximately 2.2%. This steady increase indicates a stable demand in India for these mechanical components.
Future trends to watch for include advancements in automation and industries such as automotive and manufacturing, which are likely to drive further demand. Additionally, economic policies and trade agreements impacting import duties could influence future import levels.
