HS Code:
The 'Other drilling machines' category, classified under HS Code 845929, includes drilling machines that are not numerically controlled and are used for drilling holes in metal, wood, or other materials. These machines are essential in various industries such as construction, manufacturing, and automotive for creating precise holes in components and structures. This category excludes drilling machines used for rock drilling or earth boring and focuses on industrial applications for smaller-scale operations.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Decreasing
USD 120 million
10.0% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
Average Rate
5.8%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Increased demand for portable drilling machines
Driven by growth in small-scale construction and DIY markets, leading to higher imports in emerging economies.
2021-2022
Shift towards energy-efficient models
Manufacturers are focusing on sustainable designs to meet environmental regulations, influencing trade towards greener technologies.
2020-2022
Rising automation in manufacturing
While demand for traditional drilling machines remains steady, there is a gradual shift to automated solutions, impacting long-term trade volumes.
2019-2022
The European Union imposed a 7% tariff on drilling machines from certain Asian countries to protect domestic manufacturers.
March 2023
This has led to a potential shift in trade flows, with exporters targeting alternative markets like South America and Africa.
Major manufacturers in Japan and Germany introduced smart drilling machines with IoT capabilities for real-time monitoring.
October 2022
Increased demand for high-tech models in developed markets, potentially raising export values from these countries.
Global supply chain issues, including port congestion and raw material shortages, have affected the availability of drilling machines.
January 2022
Trade volumes saw temporary declines, with recovery expected in 2023 as supply chains stabilize.