HS Code:
The 'Other generating sets' category (HS Code: 8502.39) includes electric generating sets that are not powered by diesel or gasoline, such as those driven by wind, solar, or other renewable energy sources, as well as hybrid systems. These sets are critical for off-grid power solutions, renewable energy integration, and backup power systems across industrial, commercial, and residential applications. This category is pivotal in the global transition towards sustainable energy, driven by increasing demand for clean energy solutions and technological advancements in power generation.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.9 billion
15.2% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA or within WTO member states with specific commitments)
Rising demand for renewable energy-powered generating sets
Increased trade volume as countries invest in wind and solar-powered solutions to meet carbon neutrality goals, particularly in Europe and North America.
2021-2022
Technological advancements in hybrid generating sets
Growing exports from technologically advanced countries like Germany and Japan due to innovations in energy storage and efficiency.
2020-2022
Policy support for green energy infrastructure
Subsidies and tax incentives in countries like China and the US have boosted production and export of other generating sets, influencing global supply chains.
2019-2022
The European Union has introduced stricter regulations and incentives under the Green Deal to promote renewable energy equipment, impacting trade in other generating sets.
January 2023
Increased demand for wind and solar generating sets in EU markets, benefiting exporters from Denmark and Germany.
A new phase of the US-China trade agreement reduced tariffs on certain renewable energy equipment, including other generating sets, to encourage imports.
March 2023
Boosted Chinese exports to the US, with trade volume expected to rise by 10% in 2023.
Ongoing supply chain issues, including semiconductor shortages, have delayed production and export of hybrid generating sets in key markets like Japan and the US.
October 2022
Temporary reduction in trade volume and increased costs for manufacturers and importers.