HS Code:
Strapping machines, classified under HS Code 8422.40, are industrial equipment used for securing goods with straps or bands, typically made of plastic, steel, or other materials, to ensure safe transportation and storage. These machines are widely used in industries such as logistics, packaging, and manufacturing to bundle products, reinforce packaging, and stabilize pallets. The category includes both manual and automatic strapping machines, catering to various scales of operation from small businesses to large industrial setups.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade of total trade
Increasing
USD 250 million
21% of total trade of total trade
Increasing
USD 180 million
15% of total trade of total trade
Stable
USD 120 million
10% of total trade of total trade
Stable
USD 100 million
8% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Automation in Strapping Technology
Increased demand for fully automated strapping machines due to labor cost savings and efficiency in large-scale operations, particularly in e-commerce and logistics sectors.
2021-2023
Shift to Sustainable Materials
Growing preference for machines compatible with eco-friendly strapping materials like biodegradable plastics, driven by environmental regulations and corporate sustainability goals.
2020-2023
Rise of E-commerce
Surge in demand for strapping machines in warehousing and fulfillment centers due to the exponential growth of online shopping and need for efficient packaging solutions.
2019-2023
The European Union introduced stricter energy efficiency standards for industrial equipment, including strapping machines, to meet carbon neutrality goals.
March 2023
Manufacturers may face higher compliance costs, potentially increasing prices in the EU market, while encouraging innovation in energy-efficient designs.
A new phase of trade negotiations between the US and China reduced tariffs on certain industrial machinery, including strapping machines, from 7.5% to 4%.
January 2023
Expected to boost Chinese exports to the US, intensifying competition for domestic manufacturers.
A leading German manufacturer unveiled a new AI-powered strapping machine that optimizes strap tension and reduces material waste by 20%.
September 2022
Likely to set a new industry standard, pushing competitors to invest in R&D for smart technologies.