HS Code:
Wheel covers and hubcaps for vehicles under subheadings 8701.21 to 8701.29 (tractors), and headings 8702 (public transport vehicles), 8703 (passenger cars), 8704 (goods transport vehicles), and 8705 (special purpose vehicles) fall under the broader category of automotive parts and accessories. These components serve both functional and aesthetic purposes, protecting wheel hubs and enhancing vehicle appearance. They are typically made from materials like plastic, aluminum, or steel and are essential in the aftermarket and OEM (Original Equipment Manufacturer) sectors. Global trade in wheel covers and hubcaps is driven by the automotive industry's demand, influenced by vehicle production rates, consumer preferences for customization, and replacement needs due to wear and tear.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.5%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand for lightweight materials
Increased use of high-strength plastics and aluminum to improve fuel efficiency drives innovation and shifts supply chains towards specialized manufacturers.
2021-2023
Growth in electric vehicle (EV) market
EV-specific designs for wheel covers to optimize aerodynamics are creating niche markets and influencing trade patterns.
2022-2023
Customization and aftermarket sales
Consumer preference for personalized vehicle aesthetics boosts aftermarket trade, particularly in North America and Europe.
2020-2023
The European Union introduced provisional anti-dumping duties on wheel covers and hubcaps from China, citing unfair pricing practices that harm local producers.
March 2023
This may lead to a shift in trade flows, with other Asian countries like South Korea and Taiwan potentially gaining market share in the EU.
The United States-Mexico-Canada Agreement has reduced tariffs on automotive parts, including wheel covers, fostering regional supply chain integration.
July 2022
Increased trade volume among the US, Canada, and Mexico, with Mexico emerging as a key supplier due to lower production costs.
New EU regulations mandate higher recyclability standards for automotive parts, including wheel covers, pushing manufacturers to adopt eco-friendly materials.
January 2023
Potential cost increases for exporters not meeting standards, while creating opportunities for green technology providers.