HS Code:
The 'Other, incorporating a refrigerating unit' category under the Harmonized System (HS) Code typically includes specialized refrigeration equipment or machinery not elsewhere classified, such as refrigerated display counters, cabinets, or other units used for commercial or industrial purposes. These products are critical in sectors like food retail, hospitality, and logistics for preserving perishable goods. This category often falls under HS Code 8418, which covers refrigerators, freezers, and other refrigerating or freezing equipment.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Shift towards eco-friendly refrigerants
Increased demand for units using natural refrigerants like CO2 or ammonia due to global regulations on greenhouse gas emissions.
2021-2023
Growth in cold chain logistics
Rising need for refrigerated units in transportation and storage, driven by e-commerce and pharmaceutical sectors, especially post-COVID-19 vaccine distribution.
2020-2022
Technological advancements in energy efficiency
Manufacturers are focusing on smart refrigeration systems with IoT integration to reduce energy consumption, influencing buyer preferences.
2019-2023
The European Union introduced stricter F-Gas regulations, phasing down hydrofluorocarbons (HFCs) in refrigeration equipment to combat climate change.
January 2023
Increased production costs for manufacturers adapting to natural refrigerants, potentially raising prices in the short term but fostering sustainable innovation.
A new bilateral agreement reduced tariffs on certain refrigeration equipment, boosting exports from China to the US market.
March 2022
Enhanced market access for Chinese manufacturers, potentially increasing competition and lowering prices for US consumers.
Major investments in cold chain infrastructure in Asia-Pacific, particularly in India and Southeast Asia, to support food security and vaccine distribution.
September 2022
Significant growth in demand for refrigerating units in emerging markets, creating opportunities for exporters.