HS Code:
The category of 'Other vapor generating boilers, including hybrid boilers' (HS Code: 840219) encompasses a range of industrial equipment used for generating steam or vapor through various fuel sources or hybrid technologies. These boilers are distinct from water tube and fire tube boilers and often include innovative designs that combine multiple energy sources for efficiency. They are critical in industries such as power generation, manufacturing, and chemical processing, where steam is essential for operations. This category reflects a growing interest in sustainable and energy-efficient technologies, with hybrid boilers gaining traction due to their ability to reduce carbon footprints.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade
Increasing
USD 250 million
20.8% of total trade
Increasing
USD 180 million
15% of total trade
Stable
USD 120 million
10% of total trade
Stable
USD 90 million
7.5% of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for hybrid boilers
Increased adoption due to global push for energy efficiency and reduced greenhouse gas emissions, driving innovation in boiler technology.
2021-2023
Shift towards renewable energy integration
Manufacturers are integrating biomass and solar thermal components into hybrid boilers, influencing trade patterns by increasing demand in eco-conscious markets.
2020-2022
Growth in industrial sectors in Asia-Pacific
Rapid industrialization in countries like India and Vietnam has boosted demand for vapor generating boilers, leading to higher imports.
2019-2023
The European Union's Green Deal has introduced stricter emission standards for industrial equipment, including vapor generating boilers, pushing manufacturers to innovate and comply with new regulations.
January 2023
Increased costs for non-compliant exporters but opened opportunities for sustainable technology providers.
A new phase of trade negotiations between the US and China has reduced tariffs on industrial machinery, including hybrid boilers, to promote bilateral trade.
March 2023
Expected to boost exports from China to the US, potentially reshaping market shares.
A leading German manufacturer announced a new hybrid boiler model that integrates AI for predictive maintenance and energy optimization.
June 2023
Likely to increase Germanyโs dominance in the high-end market segment, influencing global trade patterns.