In 2023, the import of bearings including combined ball or roller bearings to the US stood at approximately 1.336 million kilograms. For 2024, the forecast is 1.3255 million kilograms, representing a slight decline of 0.79% year-over-year. This decreasing trend continues through 2028, with a projected 0.85% decrease from 2025 to 2026, a decline of 0.79% from 2026 to 2027, and a further decline of 0.79% from 2027 to 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) indicates an average annual decline of approximately 0.79%.
Future trends to watch for include:
- Technological advancements in manufacturing which may influence the demand and supply dynamics of bearings.
- Changes in trade policies impacting import tariffs, which could affect import volumes.
- Global economic conditions that might alter industrial activities and, consequently, the need for bearings.