HS Code:
Mechanical presses, classified under HS Code 8462, encompass a range of machinery used for shaping or forming metal through pressure. This category includes hydraulic presses, mechanical power presses, and other related equipment widely utilized in industries such as automotive, aerospace, and manufacturing for tasks like stamping, forging, and sheet metal forming. These machines are critical for mass production and precision engineering, making them a vital component of industrial supply chains globally.
Total Trade Volume
USD 5.2 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-Japan EPA)
Shift towards automation and Industry 4.0 integration
Increased demand for smart presses with IoT capabilities, driving innovation and higher costs but improved efficiency.
2021-2023
Rising demand from electric vehicle (EV) manufacturing
Growth in mechanical press usage for battery and lightweight component production, especially in China and Europe.
2022
Supply chain disruptions due to geopolitical tensions
Delays and cost increases in raw materials and components, affecting production timelines globally.
2020-2022
The European Union introduced provisional anti-dumping duties ranging from 8% to 15% on mechanical presses imported from China to protect domestic manufacturers.
March 2023
Likely to increase costs for EU buyers and shift some demand to other exporters like Japan and South Korea.
New rules under the USMCA agreement have tightened local content requirements for mechanical presses, benefiting manufacturers in the US, Mexico, and Canada.
July 2022
Encourages regional production but may raise costs for non-compliant imported machinery.
Major manufacturers in Germany and Japan unveiled next-generation servo-driven mechanical presses, offering higher precision and energy efficiency.
September 2023
Expected to drive demand in high-tech industries but may phase out older, less efficient models.