HS Code:
The category 'Of a length exceeding 7.5 m but not exceeding 24 m' typically falls under HS Code classifications related to vehicles, vessels, or structural components such as boats, trailers, or specific machinery parts. This category includes products designed for transport or industrial use, with size specifications indicating medium to large-scale applications. These goods are critical in industries such as shipping, construction, and logistics, often requiring specialized manufacturing and transport conditions due to their dimensions.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for eco-friendly transport solutions
Increased production of vessels and vehicles in this size range with lower emissions, driving innovation in materials and design.
2021-2022
Growth in global logistics and e-commerce
Higher demand for medium-length transport equipment to support supply chain expansion, especially in Asia-Pacific and North America.
2020-2022
Supply chain disruptions due to geopolitical tensions
Delays in manufacturing and shipping of large components, leading to price volatility and regional trade shifts.
2022
The European Union introduced stricter emission regulations for vessels and vehicles within this size category, mandating compliance by mid-2023.
January 2023
Manufacturers are investing in greener technologies, potentially increasing production costs but opening new market opportunities for compliant products.
A revised trade agreement reduced tariffs on specific industrial goods in this category, facilitating smoother trade flows between the two nations.
March 2023
Expected to boost exports from China to the US, potentially increasing market competition and lowering prices for consumers.
Ongoing shortages in shipping containers and port congestion have delayed the delivery of goods in this size range, affecting project timelines globally.
October 2022
Increased costs and lead times for buyers, prompting a shift towards regional suppliers in some markets.