HS Code:
Electricity meters (HS Code: 9028.30) are devices used to measure the amount of electric energy consumed by a residence, business, or electrically powered device. This category includes both traditional analog meters and modern digital or smart meters that offer advanced functionalities such as real-time data transmission and remote monitoring. The global trade of electricity meters is driven by the increasing demand for energy efficiency, smart grid implementations, and the modernization of electrical infrastructure worldwide. This category plays a critical role in the energy sector, supporting utility companies and governments in managing energy distribution and consumption effectively.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.8 billion
34.6% of total trade
Increasing
USD 0.9 billion
17.3% of total trade
Stable
USD 0.7 billion
13.5% of total trade
Increasing
USD 0.5 billion
9.6% of total trade
Stable
USD 0.3 billion
5.8% of total trade
Increasing
Average Rate
5.2%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Rising demand for smart meters
Increased trade volume as countries upgrade to smart grid technologies for better energy management.
2020-2022
Focus on renewable energy integration
Growing need for advanced metering infrastructure to monitor renewable energy sources, boosting exports from tech-savvy nations.
2021-2023
Supply chain disruptions due to geopolitical tensions
Shortages of raw materials and components have led to price volatility and delayed shipments in some regions.
2022
The European Union has accelerated its mandate for smart meter installation across member states, aiming for 80% coverage by 2025.
June 2023
Significant boost in demand for electricity meters from European manufacturers and exporters like Germany and Italy.
Ongoing trade disputes have led to additional tariffs on Chinese-made electricity meters entering the US market.
March 2023
Increased costs for US importers and a potential shift toward alternative suppliers in Europe or Southeast Asia.
India has introduced incentives under the 'Make in India' initiative to encourage local production of electricity meters, reducing reliance on imports.
January 2023
Potential decline in imports from China while domestic trade volume and exports are expected to grow.