HS Code:
The category 'Exceeding 290 cc but not exceeding 490 cc' typically pertains to internal combustion engines or motorcycles with engine capacities within this range, often classified under HS Code 8711 (for motorcycles) or related subcategories. This segment is significant in the global automotive and transportation industry, catering to mid-range performance vehicles popular for both recreational and commuter use. These products are widely traded due to their balance of power and efficiency, appealing to markets in both developed and developing economies.
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.1 billion
34.4% of total trade
Increasing
USD 800 million
25.0% of total trade
Increasing
USD 500 million
15.6% of total trade
Stable
USD 400 million
12.5% of total trade
Increasing
USD 200 million
6.3% of total trade
Stable
Average Rate
8.5%
Highest Rate
35% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for mid-range motorcycles in Asia-Pacific
Increased exports from manufacturing hubs like India and Thailand to meet urban commuting needs
2021-2022
Shift towards electric alternatives
Potential decline in demand for traditional internal combustion engines as electric vehicle adoption grows
2022-2023
Stricter emission regulations in Europe
Manufacturers are forced to innovate or face market access barriers, increasing production costs
2020-2022
The European Union introduced stricter Euro 5+ standards for motorcycles, impacting imports and production of 290-490 cc engines.
January 2023
Increased compliance costs for exporters; potential market shift towards compliant models or electric alternatives.
India rolled out incentives under the Production Linked Incentive (PLI) scheme to boost motorcycle exports, including the 290-490 cc segment.
April 2022
Strengthened Indiaโs position as a leading exporter, particularly to African and Southeast Asian markets.
Ongoing trade disputes have led to higher tariffs on Chinese motorcycle components, affecting assembly costs for this category globally.
Mid-2022
Diversification of supply chains, with manufacturers shifting to ASEAN countries for sourcing.