HS Code:
Parts of wind-powered generating sets, classified under HS Code 8502.31.00, include components specifically designed for wind turbines used in the generation of electrical power. This subheading covers parts such as rotor blades, nacelles, towers, and other essential components that are integral to the functioning of wind-powered generators. These parts are critical in the renewable energy sector, supporting the global transition to sustainable energy sources. Trade in this category is driven by the increasing demand for clean energy solutions, technological advancements in wind turbine efficiency, and government incentives for renewable energy projects.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA or within WTO commitments)
Rising demand for larger and more efficient wind turbines
Increased trade in advanced components like longer rotor blades and high-capacity nacelles to support offshore wind projects
2022
Shift towards offshore wind energy projects
Higher demand for specialized parts resistant to marine environments, boosting trade with countries specializing in offshore technology like Denmark and Germany
2021-2022
Growing investment in renewable energy in emerging markets
Increased imports of wind turbine parts in countries like India and Brazil, creating new trade opportunities for exporters
2020-2022
The European Union introduced new subsidies and tax breaks under the Green Deal to boost domestic production and import of wind turbine components, aiming for carbon neutrality by 2050.
January 2023
Expected to increase trade volume within and into the EU by 15-20% over the next five years, benefiting major exporters like China and Denmark.
A bilateral agreement reduced tariffs on wind turbine parts between the US and China, addressing previous trade tensions and anti-dumping concerns.
September 2022
Led to a 10% surge in US imports of Chinese wind turbine parts in late 2022, strengthening supply chains for American wind projects.
A leading Danish manufacturer introduced a new recyclable blade technology, gaining significant attention and contracts globally.
March 2023
Increased Denmark's export share by 5% in 2023, with potential long-term effects on global standards for sustainable wind turbine components.