The import volume of circular knitting machines with a cylinder diameter exceeding 165 mm to the US is projected to decline over the next five years, starting from 302.86 thousand kilograms in 2024. This follows a consistent downward trajectory to 189.02 thousand kilograms by 2028. Compared to an estimated 330 thousand kilograms in 2023, this represents a nearly 43% fall in import volume by 2028.
Year-on-year fluctuations indicate a gradual annual decrease in imports, with a Compound Annual Growth Rate (CAGR) indicating a 10% reduction in import volume over the duration of these five years.
Future trends to monitor include:
- Technological advancements within the US textile industry potentially impacting domestic production capabilities and import needs.
- Trade policy shifts that might affect the cost-effectiveness of imports.
- Global economic conditions that could influence textile industry demands and supply chain dynamics.
