In 2023, the import value of gearing, ball screws, speed changers, and torque converters to the US stood at 28.1 million. The forecast data projects a gradual increase in import values from 2024 to 2028, reaching 28.416 million. This indicates a steady, albeit modest, year-on-year growth of approximately 0.2% to 0.3%. The five-year compound annual growth rate (CAGR) reflects consistent low single-digit growth year over year.
Future trends to watch include:
- Technological advancements in automation driving demand.
- Supply chain resilience impacting import dynamics.
- Global economic shifts potentially affecting production costs.
