In 2023, the import value of clutches, shaft couplings, and universal joints to India stood at a recorded figure, while forecasts from 2024 predict a steady growth. By 2025, the imports are expected to increase by approximately 4.36% compared to 2024. This trend of annual growth continues with 2026 seeing a 4.09% increase from 2025. The year 2027 forecasts a growth of 3.86% from 2026, and by 2028, a 3.63% increase from 2027 is expected. Overall, the Compound Annual Growth Rate (CAGR) for this period (2024-2028) is approximately 3.9%, indicating a strong and consistent upward trend.
Future trends to watch include the impact of technological advancements in automotive manufacturing, which may influence demand for clutches and couplings. Additionally, economic factors such as inflation and trade policies could alter import volumes significantly. Monitor alliances and innovations in the auto industry, as they could drive shifts in the demand for these components.
