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📦 Spring type

Spring type

HS Code:

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Overview

The Spring type category, classified under HS Code 7320, encompasses various types of springs and leaves for springs, made of iron or steel. This category includes helical springs, leaf springs, and other similar components widely used in automotive, industrial machinery, and consumer goods manufacturing. Springs are critical components for shock absorption, load bearing, and mechanical functionality across multiple industries.

Total Trade Volume

USD 12.5 billion

Data from 2022

Source

United Nations Comtrade Database

Tariff Analysis

Average Rate

5.2%

Highest Rate

12% (imposed by certain developing countries)

Lowest Rate

0% (under free trade agreements like EU-USMCA)

Common Restrictions

  • Import quotas in specific regions
  • Anti-dumping duties on Chinese exports in the EU and US
  • Quality certification requirements (ISO standards)
  • Environmental compliance regulations for steel production

Market Trends

Rising demand for lightweight springs in electric vehicles

Increased production and innovation in composite and high-strength steel springs to meet EV efficiency standards

2021-2022

Shift towards automation in spring manufacturing

Reduction in production costs and improved precision, benefiting large-scale exporters like China and Germany

2020-2022

Growing industrial applications in renewable energy equipment

Higher demand for specialized springs in wind turbines and solar tracking systems, boosting trade in niche markets

2022

Recent Developments

EU Imposes Anti-Dumping Duties on Chinese Springs

The European Union introduced anti-dumping tariffs of up to 8.5% on certain spring products from China to protect domestic manufacturers.

March 2023

Potential shift in trade flows, with buyers looking towards alternative suppliers in South Korea and Japan.

USMCA Agreement Facilitates Duty-Free Spring Trade

Under the USMCA trade agreement, spring components traded between the US, Canada, and Mexico face zero tariffs, boosting regional supply chains.

January 2023

Strengthened North American market integration, increasing trade volume within the region by 10%.

Innovation in Spring Materials for Sustainability

Major manufacturers in Germany and Japan have developed eco-friendly spring production techniques using recycled steel, aligning with global sustainability goals.

June 2023

Attracts environmentally conscious buyers and may lead to preferential trade terms under green trade policies.