Logo

Whatariff.com

Global Tariffs, Categorized

🇺🇸 United States
🌍 Select Country
📦 Powered by steam turbine

Powered by steam turbine

HS Code:

📦

Overview

The 'Powered by Steam Turbine' category, typically classified under HS Code 8406, encompasses steam turbines and related machinery used for power generation and industrial applications. These turbines convert thermal energy from steam into mechanical energy, often used in electricity generation plants, marine propulsion, and other heavy industries. This category includes both the turbines themselves and their components, such as rotors and blades, and covers a range of capacities suited for different industrial needs.

Total Trade Volume

USD 5.2 billion

Data from 2022

Source

United Nations Comtrade Database

Tariff Analysis

Average Rate

5.2%

Highest Rate

12% (applied by certain developing countries)

Lowest Rate

0% (under free trade agreements like EU-Japan EPA)

Common Restrictions

  • Import quotas in specific regions
  • Technical standards and certification requirements
  • Anti-dumping duties in select markets
  • Local content requirements for government projects

Market Trends

Shift towards renewable energy integration

Demand for steam turbines is evolving with combined cycle power plants integrating with renewable sources like solar thermal, driving innovation in turbine efficiency.

2021-2023

Increasing industrial demand in Asia-Pacific

Rapid industrialization in countries like India and Vietnam is boosting demand for steam turbines in power and manufacturing sectors.

2020-2022

Technological advancements in turbine efficiency

New designs and materials are reducing energy loss and increasing the lifespan of steam turbines, making them more competitive against alternative technologies.

2019-2023

Recent Developments

EU Green Deal Impact on Steam Turbine Market

The European Union's Green Deal has introduced stricter emission standards, prompting manufacturers to innovate low-emission steam turbine technologies.

January 2023

Increased R&D costs but potential for long-term market growth in sustainable energy solutions.

US-China Trade Agreement Update

A new phase of trade negotiations has reduced tariffs on industrial machinery, including steam turbines, fostering greater market access between the two countries.

March 2022

Boost in bilateral trade volume expected, with US exporters gaining a competitive edge in China.

Japan's Investment in Next-Gen Turbines

Japan announced a USD 500 million investment in developing high-efficiency steam turbines to support its energy transition goals.

September 2022

Strengthens Japan's position as a global leader in steam turbine technology and export.