HS Code:
The 'Parts of nonaircraft turbines' category (HS Code: 841199) includes components and accessories used in the assembly, maintenance, and repair of turbines other than those used in aircraft. This encompasses parts for steam turbines, gas turbines, and other industrial turbines used primarily in power generation, marine propulsion, and industrial applications. These components are critical for energy infrastructure and industrial processes worldwide, making this category a significant segment of global trade in machinery and mechanical appliances.
Total Trade Volume
USD 15.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.1 billion
20.4% of total trade
Increasing
USD 2.5 billion
16.4% of total trade
Stable
USD 1.8 billion
11.8% of total trade
Increasing
USD 1.5 billion
9.9% of total trade
Increasing
USD 1.2 billion
7.9% of total trade
Stable
Average Rate
4.5%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for renewable energy solutions
Increased trade in turbine parts for wind and hydroelectric power generation as countries transition to sustainable energy sources.
2021-2022
Technological advancements in turbine efficiency
Growing exports of high-efficiency turbine components as industries upgrade to reduce energy costs and emissions.
2020-2022
Supply chain disruptions due to geopolitical tensions
Delays and increased costs in the trade of turbine parts, prompting diversification of supply chains and regional manufacturing.
2022
A new bilateral agreement reduced tariffs on turbine parts, facilitating smoother trade between the two largest economies.
March 2023
Expected to boost trade volume by 10% over the next two years, benefiting US exporters and Chinese manufacturers.
The European Union allocated โฌ500 million for research and development in sustainable turbine technologies, encouraging intra-EU trade in parts.
January 2023
Likely to increase demand for innovative turbine components within Europe, strengthening Germany and Italyโs market positions.
Port congestion and raw material shortages in key manufacturing hubs like China and Japan disrupted the supply of turbine parts globally.
October 2022
Resulted in a temporary 5% drop in trade volume and higher prices for end-users in energy and industrial sectors.