HS Code:
Prefabricated structural components for building or civil engineering (HS Code: 7308) include items such as steel structures, bridges, bridge sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors, windows, and their frames, as well as other structural components made of iron or steel. These products are essential in the construction and infrastructure sectors, enabling faster and more efficient building processes by providing ready-to-assemble components. They are widely used in commercial, industrial, and residential projects, as well as in large-scale civil engineering works like dams and highways.
Total Trade Volume
USD 25.6 billion
Data from 2022
Source
United Nations Comtrade Database
USD 6.8 billion
26.6% of total trade of total trade
Increasing
USD 3.2 billion
12.5% of total trade of total trade
Stable
USD 2.9 billion
11.3% of total trade of total trade
Increasing
USD 1.8 billion
7.0% of total trade of total trade
Increasing
USD 1.5 billion
5.9% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
25% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Rising demand for sustainable construction materials
Increased focus on eco-friendly prefabricated components made from recycled steel, driving innovation and market growth in green building sectors.
2021-2023
Growth in infrastructure projects in developing economies
Significant boost in demand for prefabricated components in regions like Southeast Asia and Africa due to urbanization and government-led infrastructure initiatives.
2020-2022
Technological advancements in modular construction
Adoption of advanced manufacturing techniques like 3D printing and automation has reduced costs and improved precision, expanding market opportunities.
2019-2023
The United States imposed additional tariffs on steel imports under Section 232, citing national security concerns, affecting prefabricated structural component trade.
March 2022
Increased costs for US importers and potential shifts in supply chains to non-tariffed countries.
The European Union introduced stricter environmental standards for steel production under the Green Deal, impacting exporters of prefabricated components to the EU market.
July 2023
Exporters must invest in greener technologies to comply, potentially increasing costs but also opening opportunities in sustainable markets.
China expanded infrastructure projects under the Belt and Road Initiative, driving exports of prefabricated components to partner countries.
January 2023
Strengthened Chinaโs position as the leading exporter while boosting demand in Asia and Africa.