HS Code:
The Centrifugal and Axial category, often classified under HS Code 8414, includes air or vacuum pumps, air or other gas compressors, and fans, as well as ventilating or recycling hoods incorporating a fan. This category covers both centrifugal and axial flow technologies, which are widely used in industrial, commercial, and residential applications for ventilation, cooling, and air circulation. These products are critical in sectors such as manufacturing, automotive, HVAC systems, and energy production.
Total Trade Volume
USD 25.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 6.8 billion
26.6% of total trade of total trade
Increasing
USD 3.9 billion
15.2% of total trade of total trade
Stable
USD 3.2 billion
12.5% of total trade of total trade
Increasing
USD 2.1 billion
8.2% of total trade of total trade
Stable
USD 1.8 billion
7.0% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Growing demand for energy-efficient fans and compressors
Manufacturers are investing in R&D for eco-friendly designs, driving market growth in green technology sectors.
2021-2022
Increased adoption in renewable energy applications
Centrifugal and axial products are increasingly used in wind turbines and solar cooling systems, boosting trade in energy-focused markets.
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade flows have been affected by sanctions and export controls, leading to regional shortages and price volatility.
2022
The European Union introduced new regulations under the Ecodesign Directive, mandating higher energy efficiency for centrifugal and axial fans starting in 2023.
January 2023
Exporters to the EU market must adapt to comply with these standards, potentially increasing production costs but opening opportunities for innovation.
A new phase of negotiations between the US and China has led to a temporary reduction in tariffs on industrial fans and compressors as part of broader trade talks.
March 2023
This development is expected to boost Chinese exports to the US, stabilizing prices for American consumers in the short term.
Countries like Vietnam and India are emerging as alternative manufacturing hubs for centrifugal and axial products due to lower labor costs and favorable trade policies.
June 2023
This shift may diversify global supply chains, reducing dependency on traditional exporters like China.