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📦 Other transmission shafts and cranks

Other transmission shafts and cranks

HS Code:

📦

Overview

The 'Other transmission shafts and cranks' category (HS Code: 848310) includes transmission shafts (including camshafts and crankshafts) and cranks used in various machinery and vehicles to transmit rotary motion and torque. These components are critical in automotive, industrial machinery, and agricultural equipment sectors, facilitating power transfer between different parts of a system. This category excludes products specifically classified under other HS codes for specialized shafts or cranks.

Total Trade Volume

USD 12.5 billion

Data from 2022

Source

United Nations Comtrade Database

Tariff Analysis

Average Rate

5.2% ad valorem

Highest Rate

12% (imposed by certain developing countries)

Lowest Rate

0% (under free trade agreements like EU-Japan EPA)

Common Restrictions

  • Import quotas in specific markets
  • Anti-dumping duties on certain exporters
  • Technical standards and certification requirements
  • Local content requirements in automotive sectors

Market Trends

Shift towards lightweight materials

Increased demand for transmission shafts made of composite materials and advanced alloys to improve fuel efficiency in automotive applications.

2021-2022

Growth in electric vehicle (EV) production

Moderate decline in demand for traditional crankshafts due to the rise of EVs, though transmission shafts remain relevant for hybrid systems.

2022

Automation in manufacturing

Reduced production costs and improved precision in shaft and crank manufacturing, boosting export competitiveness of major producers.

2020-2022

Recent Developments

EU Imposes Anti-Dumping Duties on Chinese Shafts

The European Union imposed provisional anti-dumping duties ranging from 8% to 15% on certain transmission shafts from China, citing unfair pricing practices.

March 2023

Potential shift in supply chains, with European buyers exploring alternatives from Japan and South Korea.

USMCA Boosts North American Trade

The United States-Mexico-Canada Agreement (USMCA) has led to reduced tariffs on automotive components, including transmission shafts, within the region.

July 2022

Increased trade volume among the US, Canada, and Mexico, strengthening regional supply chains.

Technological Advancements in Shaft Design

Major manufacturers in Germany and Japan have introduced innovative designs for transmission shafts that reduce wear and improve energy efficiency.

September 2022

Enhanced market position for high-tech producers, potentially increasing export values.