HS Code:
The category 'Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof' under HS Code 84 encompasses a wide range of industrial equipment and components critical to various sectors including energy, manufacturing, and construction. This category includes nuclear reactors, steam or other vapor generating boilers, central heating boilers, auxiliary plant for use with boilers, and a vast array of machinery and mechanical appliances such as engines, pumps, compressors, and industrial robots, along with their parts. This category is vital for industrial development and infrastructure projects globally, making it one of the most significant categories in international trade due to its impact on productivity and technological advancement.
Total Trade Volume
USD 2.1 trillion
Data from 2022
Source
United Nations Comtrade Database
USD 450 billion
21.4% of total trade of total trade
Increasing
USD 320 billion
15.2% of total trade of total trade
Stable
USD 280 billion
13.3% of total trade of total trade
Increasing
USD 200 billion
9.5% of total trade of total trade
Stable
USD 150 billion
7.1% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
25% (imposed by certain developing countries on specific high-tech machinery)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Growing demand for energy-efficient machinery
Increased trade in eco-friendly boilers and energy-efficient industrial equipment, driven by global sustainability goals.
2021-2022
Rise of automation and Industry 4.0
Surge in exports of industrial robots and smart machinery, particularly from Germany, Japan, and South Korea.
2020-2022
Shift towards renewable energy infrastructure
Higher trade volumes in components for renewable energy systems, such as parts for steam turbines used in geothermal plants.
2022
A new phase of negotiations has led to a temporary reduction in tariffs on certain machinery and mechanical appliances between the US and China, aiming to boost trade in industrial equipment.
March 2023
Expected to increase bilateral trade volume by USD 50 billion annually in this category.
The European Union has introduced stricter regulations on the energy efficiency of imported boilers and machinery under the Green Deal framework, affecting exporters from non-EU countries.
January 2023
Non-compliant exporters may face reduced market access, pushing manufacturers to adapt to new standards.
Japan has increased funding and policy support for exporting nuclear reactor technology and components to support global energy transitions.
June 2023
Likely to strengthen Japan’s position in the nuclear equipment market, especially in Asia and Eastern Europe.