HS Code:
The Pumps category, classified under HS Code 8413, includes a wide range of equipment used for moving fluids (liquids or gases) by mechanical action. This category encompasses centrifugal pumps, reciprocating pumps, rotary pumps, and other specialized pumps used in industries such as water management, oil and gas, manufacturing, and agriculture. Pumps are critical components in infrastructure and industrial processes, making this category a vital part of global trade.
Total Trade Volume
USD 60.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 12.8 billion
21.2% of total trade of total trade
Increasing
USD 9.3 billion
15.4% of total trade of total trade
Stable
USD 8.1 billion
13.4% of total trade of total trade
Increasing
USD 5.2 billion
8.6% of total trade of total trade
Stable
USD 4.7 billion
7.8% of total trade of total trade
Decreasing
Average Rate
4.5% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Growing demand for energy-efficient pumps
Increased focus on sustainability and energy conservation is driving innovation and demand for high-efficiency pumps, especially in industrial and water treatment sectors.
2021-2023
Rise in infrastructure projects in developing economies
Significant investments in water management and urbanization in Asia and Africa are boosting the demand for pumps in construction and municipal applications.
2020-2022
Adoption of smart and IoT-enabled pumps
Integration of IoT for real-time monitoring and predictive maintenance is creating new market segments and increasing demand for advanced pump systems.
2022-2023
The European Union introduced stricter energy efficiency regulations for industrial pumps, aiming to reduce carbon emissions by 2030.
March 2023
Manufacturers may face higher compliance costs, but this could spur innovation in energy-efficient designs and open new market opportunities.
Additional tariffs imposed by the United States on Chinese-made pumps have led to supply chain disruptions and increased costs for American importers.
January 2023
Shift in sourcing to other countries like Vietnam and India, potentially reshaping global trade patterns in this category.
Increasing water scarcity and the need for efficient irrigation systems have led to a surge in demand for agricultural pumps in regions like South Asia and Sub-Saharan Africa.
July 2022
Significant growth opportunities for exporters targeting agricultural markets, with potential for long-term contracts.