HS Code:
Cam locks and other locks suitable for use with chests, drawers, and similar items fall under HS Code 8301.30.00. This category includes a variety of locking mechanisms specifically designed for furniture and storage units, providing security for personal and commercial use. These locks are typically made of metal and vary in design, including cam locks, cylinder locks, and other specialized locking systems. They are widely used in office furniture, residential storage, and industrial applications. The global trade of these products is driven by demand in construction, furniture manufacturing, and retail sectors.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 180 million
15.0% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for smart locks integration
Increasing incorporation of electronic and biometric locking mechanisms in furniture, driving innovation and higher value products in the market.
2021-2023
Sustainability in manufacturing
Growing preference for eco-friendly materials and production processes, influencing manufacturers to adopt greener practices and recyclable materials.
2020-2023
Growth in e-commerce furniture sales
Boosting demand for affordable and easy-to-install locking systems as online furniture purchases increase globally.
2019-2023
A recent bilateral agreement has reduced tariffs on certain lock categories, including cam locks, from 7.5% to 4% as part of broader trade negotiations.
March 2023
Expected to increase Chinese exports to the US by 10-15% in the short term, benefiting US furniture manufacturers with lower input costs.
The European Union introduced stricter safety and durability standards for locks used in furniture, mandating compliance with new testing protocols.
January 2023
May raise production costs for non-compliant manufacturers but ensures higher quality products for consumers, potentially benefiting European producers.
Major manufacturers in Taiwan and Germany have launched new lines of smart cam locks with IoT integration for enhanced security in commercial furniture.
June 2023
Likely to shift market dynamics towards premium products, increasing competition in the high-end segment and driving innovation.