HS Code:
The product category 'Exceeding 746 kW but not exceeding 1,119 kW' typically refers to engines or machinery with power output in the specified range, often used in industrial applications, heavy machinery, or power generation. This category falls under HS Code 8501.33 or similar, depending on the specific type of machinery or engine (e.g., electric motors, diesel engines). Products in this power range are critical for medium to large-scale industrial operations and are traded globally to support infrastructure development, manufacturing, and energy sectors.
Total Trade Volume
Approximately $2.5 billion USD
Data from 2022
Source
United Nations Comtrade Database, World Trade Organization (WTO)
$600 million USD
24% of total trade of total trade
Increasing
$500 million USD
20% of total trade of total trade
Stable
$400 million USD
16% of total trade of total trade
Increasing
$300 million USD
12% of total trade of total trade
Stable
$200 million USD
8% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing economies to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA or within ASEAN)
Shift towards energy-efficient and low-emission engines
Increased demand for hybrid and electric alternatives in the specified power range, affecting traditional diesel engine trade
2021-2023
Growth in renewable energy projects
Rising need for backup power systems in the 746-1,119 kW range for wind and solar farms, boosting trade in specific markets
2022
Supply chain disruptions due to geopolitical tensions
Delays and cost increases in key exporting countries, leading to regional shifts in trade patterns
2022-2023
The European Union has introduced stricter emissions regulations under the Green Deal, affecting imports of engines in the 746-1,119 kW range that do not meet new standards.
March 2023
Potential decline in trade volume from non-compliant manufacturers; increased market share for EU-based producers
A recent phase of the US-China trade agreement reduced tariffs on industrial machinery, including engines in this power range, fostering increased bilateral trade.
January 2023
Boost in exports from China to the US, potentially affecting European exporters
Countries like Vietnam and Thailand are emerging as manufacturing hubs for industrial engines, supported by lower labor costs and favorable trade policies.
June 2023
Shift in trade patterns, with increased exports from Southeast Asia to global markets