HS Code:
The 'Other bearings, having an outside diameter of' category (HS Code: 8482.99) includes various types of bearings not classified under specific subcategories, typically used in machinery and vehicles for reducing friction between moving parts. These bearings are critical components in industries such as automotive, aerospace, and manufacturing, where precision and durability are paramount. This category encompasses bearings with specific outside diameters as defined by trade classifications, often tailored for niche applications.
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 850 million
26.6% of total trade of total trade
Increasing
USD 620 million
19.4% of total trade of total trade
Stable
USD 480 million
15.0% of total trade of total trade
Increasing
USD 400 million
12.5% of total trade of total trade
Increasing
USD 250 million
7.8% of total trade of total trade
Stable
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 demand for precision bearings in automation
Increased trade volume due to growth in robotics and industrial automation sectors, particularly in Asia-Pacific and Europe.
2021-2022
Shift towards sustainable manufacturing
Manufacturers adopting eco-friendly materials and processes, influencing supply chains and trade preferences in the EU and North America.
2020-2022
Supply chain diversification
Post-COVID-19, companies are diversifying suppliers beyond traditional hubs like China to mitigate risks, boosting trade from countries like Vietnam and India.
2021-2023
The European Union imposed provisional anti-dumping duties on certain bearing imports from China to protect domestic manufacturers.
March 2023
Expected to increase costs for EU importers, potentially shifting trade towards other Asian suppliers like Japan and South Korea.
Under the USMCA agreement, stricter rules of origin for automotive components, including bearings, have been implemented to encourage North American production.
July 2022
Increased trade within North America, with Mexico emerging as a key supplier to the US market.
Introduction of ceramic and hybrid bearings with enhanced durability and performance for high-speed applications in aerospace and renewable energy sectors.
October 2022
Growing niche market for specialized bearings, driving exports from technologically advanced countries like Germany and Japan.