HS Code:
Turbine pumps, classified under HS Code 841370, are a type of centrifugal pump designed to move fluids through the use of a rotating impeller within a casing. These pumps are widely used in applications such as water supply, irrigation, industrial processes, and power generation. They are particularly valued for their efficiency in handling high flow rates and low to medium head applications. The global trade of turbine pumps reflects the demand for efficient fluid handling systems across agricultural, industrial, and municipal sectors.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
18% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Stable
USD 350 million
14% of total trade of total trade
Increasing
USD 250 million
10% of total trade of total trade
Stable
USD 200 million
8% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Increased demand for energy-efficient pumps
Manufacturers are focusing on developing turbine pumps with lower energy consumption to meet environmental regulations, driving innovation and market growth.
2021-2023
Growth in agricultural irrigation needs
Rising global food demand has led to higher adoption of turbine pumps in irrigation systems, particularly in Asia-Pacific and African regions.
2020-2022
Shift towards smart pump technologies
Integration of IoT and automation in turbine pumps is enhancing operational efficiency, creating new market opportunities in industrial sectors.
2022-2023
The European Union introduced stricter energy efficiency regulations for turbine pumps to reduce carbon emissions, requiring manufacturers to comply by mid-2023.
January 2023
This is expected to increase production costs for non-compliant manufacturers but also drive innovation in energy-efficient designs.
A new trade agreement reduced tariffs on turbine pumps and other industrial equipment between the US and China, fostering greater market access.
March 2022
This has led to a surge in exports from China to the US, benefiting Chinese manufacturers while increasing competition for domestic US producers.
A leading German manufacturer unveiled a new line of turbine pumps with 20% higher efficiency due to advanced impeller designs.
September 2022
This development is likely to set a new industry standard, pressuring competitors to innovate and potentially increasing Germany's market share.