HS Code:
The 'Exceeding 746 kW' category typically refers to machinery or engines with a power output exceeding 746 kilowatts, often including large industrial engines, turbines, or generators under the Harmonized System (HS) Code related to machinery and mechanical appliances. These products are critical for heavy industrial applications, power generation, and large-scale infrastructure projects. Given the high power output, they are often used in sectors like energy, shipping, and manufacturing.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade of total trade
Increasing
USD 2.8 billion
22.4% of total trade of total trade
Stable
USD 1.9 billion
15.2% of total trade of total trade
Increasing
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.1 billion
8.8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Shift towards renewable energy integration
Increased demand for high-power turbines and generators compatible with renewable energy systems like wind and hydroelectric power.
2021-2022
Rising industrialization in Asia-Pacific
Significant growth in demand for heavy machinery and engines in countries like India and Vietnam for infrastructure and manufacturing projects.
2020-2022
Technological advancements in efficiency
Manufacturers are focusing on energy-efficient and low-emission engines, influencing trade patterns towards greener technologies.
2019-2022
The European Union introduced stricter emission standards for high-power machinery under the Green Deal, affecting import criteria for non-compliant products.
January 2023
Potential reduction in imports from non-compliant manufacturers; increased costs for compliance certification.
A new phase of trade negotiations between the US and China reduced tariffs on industrial machinery, including high-power engines, to promote bilateral trade.
March 2023
Boost in trade volume between the two countries; potential market share growth for Chinese manufacturers in the US.
Ongoing disruptions due to geopolitical tensions and post-COVID recovery have led to delays in the supply of critical components for high-power machinery.
October 2022
Increased costs and delivery times; shift towards regional suppliers to mitigate risks.