HS Code:
This category pertains to products, likely vehicle wheel rims, with a rim diameter greater than 35.56 cm (14 inches) but not more than 38.10 cm (15 inches). These products are typically used in the automotive industry for passenger vehicles, motorcycles, or other small to medium-sized vehicles. This segment falls under a specific Harmonized System (HS) code related to vehicle parts and accessories, reflecting its importance in global manufacturing and trade of automotive components. The trade in this category is influenced by automotive production hubs, regional demand for vehicles, and material costs such as steel or aluminum.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like USMCA or EU-Japan EPA)
Shift towards lightweight materials
Increased demand for aluminum and alloy-based rims over traditional steel due to fuel efficiency concerns, driving innovation and higher production costs.
2021-2022
Growth in electric vehicle (EV) market
Rising EV production has spurred demand for specialized rims that support energy efficiency and unique vehicle designs.
2022
Supply chain disruptions
Global shortages of raw materials like aluminum and steel due to geopolitical tensions and pandemic recovery have led to price volatility and delays.
2020-2022
The United States imposed additional tariffs on Chinese-manufactured wheel rims citing unfair trade practices and dumping concerns.
March 2022
Shift in supply chains with manufacturers exploring alternative sourcing from countries like Vietnam and Thailand.
New EU regulations under the Green Deal mandate stricter environmental standards for automotive parts, including rims, focusing on recyclable materials.
July 2022
Increased production costs for non-compliant manufacturers and potential market barriers for exporters not meeting standards.
Introduction of advanced manufacturing techniques such as 3D printing for lightweight and custom rims by leading automotive suppliers.
September 2022
Potential reduction in costs over the long term and customization opportunities for niche markets like luxury and sports vehicles.