HS Code:
The Locking category, typically classified under HS Code 8301, encompasses a wide range of products including padlocks, locks of a kind used for doors of buildings, motor vehicles, furniture, and other applications, as well as parts of locks. This category is essential for security across residential, commercial, and industrial sectors. Products in this category vary from traditional mechanical locks to advanced electronic locking systems, reflecting technological advancements and increasing demand for security solutions globally.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.8%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for smart locks and electronic security systems
Increased market share for technology-driven locking solutions, pushing traditional manufacturers to innovate
2021-2023
Growth in construction and automotive sectors
Higher demand for locks in new buildings and vehicles, especially in emerging economies
2020-2022
Supply chain disruptions due to geopolitical tensions
Increased production costs and delays in delivery, affecting trade volumes temporarily
2022
The European Union introduced anti-dumping duties ranging from 8% to 15% on certain locking products from China to protect local manufacturers.
March 2023
Potential shift in market share towards European producers, though prices for consumers may rise.
Major manufacturers in the US and South Korea launched new biometric locks, integrating fingerprint and facial recognition technology.
June 2023
Accelerated adoption of high-tech security solutions, especially in commercial and residential sectors.
A new trade agreement reduced tariffs on locking products, facilitating easier market access for Chinese manufacturers in Southeast Asia.
January 2023
Increased export volume from China to ASEAN countries, potentially intensifying competition in the region.