HS Code:
The 'Compressors' category, typically classified under HS Code 8414, includes air or gas compressors and fans, as well as ventilating or recycling hoods incorporating a fan. This category covers a wide range of products used in industrial applications (e.g., manufacturing, refrigeration, and HVAC systems), automotive industries, and household appliances. Compressors are critical for processes requiring compressed air or gas, such as powering pneumatic tools, refrigeration cycles, and air conditioning systems. Global trade in this category is driven by industrial demand, energy efficiency regulations, and advancements in technology.
Total Trade Volume
USD 50.3 billion
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
USD 12.5 billion
24.9% of total trade of total trade
Increasing
USD 7.8 billion
15.5% of total trade of total trade
Stable
USD 6.2 billion
12.3% of total trade of total trade
Increasing
USD 4.9 billion
9.7% of total trade of total trade
Stable
USD 3.1 billion
6.2% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Shift towards energy-efficient compressors
Increased demand for variable speed drive (VSD) compressors and eco-friendly designs due to stringent energy regulations in the EU and North America.
2021-2022
Growth in industrial automation
Rising adoption of compressors in automated manufacturing and Industry 4.0 applications, particularly in Asia-Pacific.
2020-2022
Impact of supply chain disruptions
Shortages of raw materials and components (e.g., semiconductors) have led to production delays and increased costs for compressor manufacturers.
2021-2022
The European Union introduced stricter energy efficiency requirements under the Green Deal framework, mandating higher standards for compressors sold in the EU market.
January 2023
Manufacturers must invest in R&D to comply, potentially increasing costs but also creating opportunities for innovation leaders.
The United States imposed additional tariffs on Chinese-made compressors as part of ongoing trade disputes, affecting pricing and supply chains.
Mid-2022
Shift in sourcing to alternative markets like Vietnam and Mexico by US importers to avoid tariffs.
Major manufacturers unveiled new lines of oil-free and smart compressors with IoT integration for real-time monitoring and maintenance.
October 2022
Increased competitiveness for tech-savvy companies, while smaller manufacturers struggle to keep up with investment needs.