HS Code:
The category of self-propelled bulldozers, angledozers, graders, levelers, scrapers, mechanical shovels, excavators, shovel loaders, tamping machines, and road rollers falls under HS Code 8429. This category encompasses heavy machinery used primarily in construction, mining, and infrastructure development for earth-moving, grading, and compacting tasks. These machines are critical for large-scale projects, including road construction, building foundations, and mining operations. The global trade of these products is driven by urbanization, industrialization, and government investments in infrastructure.
Total Trade Volume
Approximately $40 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$8.5 billion USD
21.3% of total trade of total trade
Increasing
$6.2 billion USD
15.5% of total trade of total trade
Stable
$5.8 billion USD
14.5% of total trade of total trade
Increasing
$4.1 billion USD
10.3% of total trade of total trade
Stable
$2.9 billion USD
7.3% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
Up to 25% (in certain developing markets with protective policies)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Growing demand for eco-friendly machinery
Increased production of electric and hybrid construction equipment to meet stringent emission regulations in Europe and North America.
2021-2023
Rise in infrastructure investments in Asia-Pacific
Significant boost in demand for earth-moving equipment in countries like India and Indonesia due to large-scale projects under initiatives like Belt and Road.
2020-2022
Automation and digitalization
Adoption of autonomous and GPS-enabled machinery for precision and efficiency, driving innovation in the sector.
2022-2023
The European Union introduced provisional anti-dumping duties ranging from 15% to 30% on certain Chinese-made excavators to protect domestic manufacturers.
March 2023
Potential increase in costs for EU buyers and a shift towards alternative suppliers like Japan and South Korea.
The US government's $1.2 trillion Infrastructure Investment and Jobs Act has spurred demand for construction machinery, benefiting both domestic and international suppliers.
November 2021
Significant growth in imports and local production of heavy machinery, with a projected 10% annual increase in trade volume.
Leading manufacturers like Caterpillar and Komatsu launched electric and hybrid models to comply with net-zero emission goals in key markets.
January 2023
Shift in consumer preference towards sustainable machinery, influencing trade patterns in favor of innovative exporters.