HS Code:
Parts suitable for use solely or principally with the engines of heading 8407 or 8408 (HS Code: 8409) include components such as pistons, cylinders, valves, and other essential parts used in spark-ignition internal combustion engines (heading 8407) and compression-ignition internal combustion engines (heading 8408). These engines are commonly found in automobiles, motorcycles, marine vessels, and industrial machinery. This category is critical to the global automotive and industrial sectors, as these parts are integral to engine performance, maintenance, and repair. Trade in this category is driven by demand for vehicle production, aftermarket services, and industrial equipment manufacturing.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 8.2 billion
18.0% of total trade of total trade
Increasing
USD 6.5 billion
14.3% of total trade of total trade
Stable
USD 5.8 billion
12.7% of total trade of total trade
Increasing
USD 4.9 billion
10.7% of total trade of total trade
Increasing
USD 3.1 billion
6.8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
15% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Shift towards electric vehicle (EV) components
Declining demand for traditional engine parts in regions with high EV adoption, while demand for hybrid engine parts remains steady.
2021-2023
Increased focus on sustainable manufacturing
Manufacturers are adopting eco-friendly materials and processes for engine parts, influencing trade patterns as buyers prioritize green suppliers.
2020-2022
Growth in aftermarket demand
Rising vehicle ownership in emerging markets boosts demand for replacement parts, driving trade in this category.
2019-2023
The European Union introduced Euro 7 emission standards, requiring engine parts to meet higher environmental criteria, impacting exporters to the region.
January 2023
Increased production costs for manufacturers but potential growth for compliant suppliers.
A new phase of the US-China trade agreement reduced tariffs on certain engine parts, facilitating smoother trade flows between the two nations.
March 2022
Boosted export opportunities for Chinese manufacturers to the US market.
Japan announced incentives for hydrogen engine development, spurring demand for specialized engine parts in this nascent sector.
October 2022
Emerging niche market for engine parts compatible with hydrogen technology.