HS Code:
The category 'Parts of backhoes, shovels, clamshells, and draglines' (HS Code: 8431.49) includes components and attachments specifically designed for use in excavating machinery such as backhoes, shovels, clamshells, and draglines. These parts are critical for the construction, mining, and infrastructure development sectors, encompassing items like buckets, booms, arms, hydraulic cylinders, and other structural components. This category does not include complete machinery but focuses on replacement or upgrade parts that ensure the functionality and efficiency of these heavy-duty machines. Global trade in this category is driven by demand for infrastructure projects, mining activities, and urbanization, particularly in developing economies.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 2.8 billion
22.4% of total trade of total trade
Increasing
USD 1.9 billion
15.2% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
4.5%
Highest Rate
12% (imposed by certain developing countries to protect local manufacturing)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for sustainable and energy-efficient components
Manufacturers are investing in lightweight materials and hydraulic systems to reduce fuel consumption, driving innovation in parts design.
2021-2023
Increased automation in construction equipment
Growing need for precision-engineered parts compatible with automated and remote-controlled machinery, boosting trade in high-tech components.
2022-2023
Supply chain diversification post-COVID-19
Countries are sourcing parts from multiple regions to avoid disruptions, leading to a rise in trade from emerging markets like India and Vietnam.
2020-2022
The United States imposed additional tariffs on Chinese-made parts for backhoes and shovels as part of ongoing trade tensions, citing unfair trade practices.
March 2023
Increased costs for US importers, potential shift to alternative suppliers in South Korea and Japan.
The European Union introduced stricter environmental regulations under the Green Deal, mandating lower emissions and recyclable materials in machinery parts production.
July 2023
Manufacturers face higher compliance costs, but it opens opportunities for eco-friendly component suppliers.
Massive infrastructure projects in countries like India and Indonesia have spiked demand for excavator and backhoe parts, with China and Japan as key suppliers.
September 2023
Significant growth in trade volume in the region, with potential for long-term market expansion.