HS Code:
The 'Parts, including regulators' category under the Harmonized System (HS) Code typically encompasses components and accessories used in various machinery and equipment, including regulators for controlling pressure, flow, or other parameters. This category often falls under broader HS codes like 8481 (taps, cocks, valves, and similar articles) or specific subcategories depending on the type of regulator or part. These products are critical in industries such as manufacturing, automotive, energy, and HVAC systems, ensuring operational efficiency and safety. Global trade in this category is driven by industrial demand, technological advancements, and the need for maintenance and replacement parts.
Total Trade Volume
USD 120 billion
Data from 2022
Source
United Nations Comtrade Database
USD 25 billion
20.8% of total trade of total trade
Increasing
USD 20 billion
16.7% of total trade of total trade
Stable
USD 18 billion
15.0% of total trade of total trade
Increasing
USD 12 billion
10.0% of total trade of total trade
Stable
USD 8 billion
6.7% 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)
Rising demand for energy-efficient regulators
Increased trade in advanced regulator technologies to meet sustainability goals, especially in Europe and North America.
2021-2023
Automation and IoT integration
Growth in smart regulators and parts compatible with automated systems, driving trade in high-tech components.
2020-2023
Supply chain diversification
Shift in sourcing from single-country dependency (e.g., China) to multiple regions like Southeast Asia due to geopolitical tensions.
2022-2023
The European Union introduced stricter environmental standards under the Green Deal, mandating energy-efficient designs for industrial regulators and parts.
January 2023
Increased costs for non-compliant exporters but boosted demand for eco-friendly products.
A new phase of the US-China trade agreement reduced tariffs on certain machinery parts, including regulators, to ease supply chain pressures.
March 2023
Enhanced trade flows between the two countries, benefiting US importers and Chinese manufacturers.
Ongoing port congestions and raw material shortages in key Asian manufacturing hubs have delayed exports of regulator parts.
September 2022
Temporary price hikes and trade volume reductions in affected markets.