HS Code:
Numerically controlled panel benders (classified under HS Code 8462.24) are advanced metalworking machines used for bending and forming sheet metal with high precision through computer numerical control (CNC). These machines are critical in industries such as automotive, aerospace, and construction for producing complex metal components. The global trade of numerically controlled panel benders reflects the demand for automation and precision manufacturing technologies.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 280 million
23.3% of total trade of total trade
Stable
USD 200 million
16.7% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising adoption of Industry 4.0 technologies
Increased demand for numerically controlled panel benders integrated with IoT and AI for smart manufacturing
2021-2023
Shift towards sustainable manufacturing
Growing preference for energy-efficient panel benders, influencing purchasing decisions
2022
Expansion of automotive and aerospace sectors in Asia-Pacific
Higher demand for precision machinery, boosting trade volumes in the region
2020-2023
The European Union introduced a 10% tariff on numerically controlled panel benders from China to address concerns over market dumping.
March 2023
Potential increase in costs for EU importers, shifting demand to other exporters like Germany and Italy.
Major manufacturers in Japan unveiled next-gen panel benders with enhanced automation and reduced energy consumption.
June 2022
Strengthened Japanโs position in the market, likely increasing export volumes.
Revised rules under the USMCA have reduced tariffs on panel benders traded between the US, Mexico, and Canada.
January 2023
Expected to boost intra-regional trade and benefit US manufacturers.