HS Code:
This category pertains to motor vehicles for the transport of goods with a Gross Vehicle Weight (G.V.W.) exceeding 12 metric tons but not exceeding 15 metric tons, typically classified under HS Code 8704.23. These vehicles are medium-heavy duty trucks used primarily for commercial transport of goods across various industries such as logistics, construction, and agriculture. They are critical for regional and long-haul transportation due to their capacity to handle substantial loads while maintaining maneuverability compared to heavier trucks.
Total Trade Volume
USD 5.8 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
8.5%
Highest Rate
25% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Shift towards electric and hybrid trucks
Increasing demand for eco-friendly vehicles in this weight category due to stricter emission regulations in Europe and North America, driving innovation and market growth for manufacturers adopting green technologies.
2022
Growth in e-commerce and last-mile delivery
Rising need for medium-heavy duty trucks to support logistics networks, especially in urban areas, boosting demand in Asia-Pacific and North America.
2021-2022
Supply chain disruptions
Semiconductor shortages and raw material price hikes have slowed production, leading to delayed deliveries and higher costs for manufacturers and buyers.
2021-2022
The European Union introduced stricter CO2 emission targets for heavy-duty vehicles, pushing manufacturers to invest in electric and hybrid models for the 12-15 metric ton category.
June 2023
Likely to increase production costs in the short term but create long-term opportunities for sustainable vehicle manufacturers.
A new phase of negotiations reduced tariffs on certain vehicle categories, including medium-heavy duty trucks, facilitating increased exports from China to the US.
March 2023
Expected to boost China's market share in the US for this category, potentially affecting domestic manufacturers.
Major Japanese manufacturers announced partnerships to develop autonomous driving technology for medium-heavy duty trucks, targeting safer and more efficient transport solutions.
September 2023
Could redefine market dynamics by reducing operational costs and improving safety, giving Japanese exporters a competitive edge.