HS Code:
The category 'At least 93.2 kW but under 119.3 kW' typically pertains to machinery or engines, often associated with industrial or agricultural equipment such as tractors or generators under the Harmonized System (HS) Code structure. This power range is critical for medium to heavy-duty applications, balancing efficiency and capacity. Products in this category are traded globally, with significant demand in agricultural, construction, and industrial sectors. Trade patterns are influenced by regional manufacturing capabilities, agricultural needs, and economic development levels.
Total Trade Volume
USD 5.8 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.3%
Highest Rate
12.5% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Shift towards sustainable machinery
Increased demand for hybrid and electric alternatives within this power range, pushing manufacturers to innovate and adapt to stricter emission regulations.
2021-2022
Growth in agricultural mechanization
Rising demand in developing countries for medium-power tractors and equipment to boost agricultural productivity, especially in regions like Sub-Saharan Africa and South Asia.
2020-2022
Supply chain disruptions
Delays in production and trade due to semiconductor shortages and logistical challenges, leading to increased costs and reduced availability.
2021-2022
The European Union introduced stricter Stage V emission standards for non-road mobile machinery, impacting the design and trade of equipment in the 93.2 kW to 119.3 kW range.
January 2023
Manufacturers must invest in cleaner technologies, potentially increasing costs but also opening new markets for compliant products.
Negotiations between the US and China included discussions on reducing tariffs for industrial machinery, including products in this power category.
March 2023
Potential reduction in trade barriers could boost exports from China to the US, affecting global trade dynamics.
India launched a subsidy program to encourage the adoption of medium-power tractors among small and medium farmers, increasing import demand.
July 2022
Significant growth in imports from key manufacturing countries like Japan and the US, reshaping regional trade flows.