HS Code:
Meter boxes, classified under HS Code 8537 (which includes boards, panels, consoles, desks, cabinets, and other bases equipped with apparatus for electric control or distribution of electricity), are essential components in electrical infrastructure. They are used to house electricity meters, circuit breakers, and other electrical components, ensuring safety and accessibility for monitoring and maintenance. This category is critical in residential, commercial, and industrial settings, with demand driven by urbanization, infrastructure development, and renewable energy integration.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.2 billion
25.6% of total trade of total trade
Increasing
USD 1.8 billion
14.4% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.0 billion
8.0% of total trade of total trade
Increasing
USD 800 million
6.4% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for smart meter boxes
Driven by the global push for smart grids and energy efficiency, increasing trade in advanced meter box technologies with IoT integration.
2021-2023
Shift towards sustainable materials
Growing preference for eco-friendly and recyclable materials in meter box production due to environmental regulations, impacting manufacturing costs and trade dynamics.
2022-2023
Increased infrastructure spending in developing economies
Boost in demand for meter boxes in regions like Africa and Southeast Asia due to urbanization and electrification projects, leading to higher import volumes.
2020-2023
The European Union introduced anti-dumping tariffs of up to 12% on meter boxes from China to protect domestic manufacturers from unfairly priced imports.
March 2023
Likely to shift trade flows, with European buyers exploring alternative suppliers from countries like India and Vietnam.
The US Infrastructure Investment and Jobs Act, signed into law, allocates significant funding for grid modernization, increasing demand for meter boxes.
November 2021
Expected to drive imports and domestic production, benefiting key exporters like China and Mexico.
Under the 'Make in India' initiative, the government introduced incentives for local production of electrical components, including meter boxes, while raising tariffs on imports.
January 2023
Reduction in import dependency, potentially affecting major exporters like China.