HS Code:
The Road Wheels category, classified under HS Code 870870, includes wheels and their parts and accessories used primarily for motor vehicles. This category encompasses a range of products such as steel and aluminum wheels, rims, and hubcaps, catering to passenger cars, trucks, and other vehicles. Road wheels are critical components for vehicle safety, performance, and aesthetics, and the global trade in this category is driven by the automotive industry's demand for both original equipment manufacturing (OEM) and aftermarket products.
Total Trade Volume
USD 15.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
25% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU Single Market or USMCA)
Shift towards lightweight aluminum wheels
Increased demand for aluminum wheels due to fuel efficiency and emission reduction goals in the automotive sector.
2020-2022
Growth in electric vehicle (EV) market
Rising demand for specialized road wheels designed for EVs, which require different weight and durability specifications.
2021-2023
Automation in manufacturing
Adoption of advanced manufacturing technologies has reduced production costs, impacting trade competitiveness of major exporters.
2019-2022
The United States imposed additional tariffs on Chinese road wheels citing unfair trade practices and dumping, affecting the import volume from China.
March 2023
Potential shift in market share towards other exporters like South Korea and Japan.
The European Union's Green Deal has introduced stricter environmental regulations for automotive components, pushing manufacturers to adopt sustainable practices.
January 2023
Increased production costs for non-compliant manufacturers and a competitive edge for eco-friendly producers.
The Regional Comprehensive Economic Partnership (RCEP) has reduced tariffs on road wheels among member countries, boosting intra-regional trade.
November 2022
Enhanced market access for countries like China, Japan, and South Korea within the Asia-Pacific region.