HS Code:
The category 'Of an output exceeding 375 kVA' typically falls under HS Code 8504.23, which includes electrical transformers with a power handling capacity exceeding 375 kVA. These are high-capacity transformers used in industrial and utility applications for stepping up or stepping down voltage in power transmission and distribution systems. This category is critical for energy infrastructure, supporting large-scale electricity grids and industrial operations globally.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.1 billion
21.2% of total trade of total trade
Increasing
USD 850 million
16.3% of total trade of total trade
Stable
USD 720 million
13.8% of total trade of total trade
Increasing
USD 550 million
10.6% of total trade of total trade
Increasing
USD 400 million
7.7% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Growing demand for renewable energy integration
Increased need for high-capacity transformers to connect wind and solar farms to national grids, driving market growth particularly in Europe and Asia.
2021-2023
Shift towards smart grid technologies
Rising adoption of digital transformers with monitoring capabilities, boosting trade in advanced models of transformers exceeding 375 kVA.
2022-2023
Supply chain disruptions
Delays in raw material supply (e.g., copper and steel) and geopolitical tensions have led to price volatility and trade slowdowns in some regions.
2020-2022
The US Infrastructure Investment and Jobs Act allocates significant funding for grid modernization, increasing imports of high-capacity transformers.
November 2021
Expected to drive a 15% increase in imports from key suppliers like China and South Korea over the next 5 years.
The European Union's Green Deal emphasizes renewable energy, leading to higher demand for transformers to support offshore wind projects.
March 2022
Strengthens trade flows from Germany and other EU manufacturers to meet regional demand.
India imposed anti-dumping duties on certain electrical transformers from China to protect domestic manufacturers.
July 2023
Redirects some trade flows to other suppliers like South Korea and Germany, potentially increasing costs for Indian buyers.