HS Code:
The category of Overhead Traveling Cranes, Transporter Cranes, Gantry Cranes, Bridge Cranes, Mobile Lifting Frames, and Straddle Carriers (HS Code: 8426) includes heavy-duty lifting and material handling equipment used in industrial settings such as construction sites, shipyards, warehouses, and manufacturing facilities. These cranes are essential for moving large and heavy loads efficiently, ensuring operational productivity and safety. This category encompasses a variety of crane types designed for specific applications, including overhead cranes for factory use, gantry cranes for outdoor operations, and straddle carriers for container handling in ports.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.3 billion
25% of total trade of total trade
Increasing
USD 900 million
17% of total trade of total trade
Stable
USD 750 million
14% of total trade of total trade
Increasing
USD 500 million
10% of total trade of total trade
Stable
USD 400 million
8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Automation and Smart Cranes
Increasing demand for cranes integrated with IoT and automation technologies to improve efficiency and safety in industrial operations.
2021-2023
Growth in Infrastructure Projects
Rising investments in global infrastructure, especially in Asia-Pacific and Africa, driving demand for heavy lifting equipment.
2020-2023
Shift to Green Technology
Manufacturers are focusing on energy-efficient and electric-powered cranes to meet environmental regulations and reduce operational costs.
2022-2023
The European Union introduced provisional anti-dumping duties on certain crane imports from China to protect local manufacturers from unfairly priced goods.
March 2023
Potential increase in costs for EU importers and a shift towards alternative suppliers from other regions.
A leading crane manufacturer secured a USD 200 million contract to supply automated straddle carriers and gantry cranes for a port expansion in Singapore.
June 2023
Boosts trade volume for crane exporters and highlights growing demand in the port logistics sector.
A prominent German manufacturer launched a new line of fully electric gantry cranes, reducing carbon emissions by 30% compared to traditional models.
September 2023
Encourages adoption of sustainable equipment and aligns with global environmental goals.