HS Code:
The 'Work holders and parts thereof' category, typically classified under HS Code 8466.20, includes tools and equipment used to hold, support, or clamp workpieces during machining, manufacturing, or assembly processes. These products are essential in industries such as automotive, aerospace, and general manufacturing for ensuring precision and stability during operations. This category encompasses a variety of items like vises, chucks, jigs, fixtures, and related components.
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 620 million
19.4% of total trade of total trade
Increasing
USD 510 million
15.9% of total trade of total trade
Stable
USD 480 million
15.0% of total trade of total trade
Increasing
USD 410 million
12.8% of total trade of total trade
Increasing
USD 280 million
8.8% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Growing demand for precision tools
Increased adoption of advanced work holders in high-tech industries like aerospace and automotive has driven trade volumes upward, especially in developed economies.
2021-2022
Shift towards automation
Rising use of automated and CNC (Computer Numerical Control) machinery has boosted demand for compatible work holders, influencing export growth from countries like Japan and Germany.
2020-2022
Supply chain diversification
Post-COVID supply chain disruptions have led to a diversification of sourcing, with countries like Vietnam and India emerging as secondary suppliers, reducing reliance on China.
2021-2023
The European Union introduced anti-dumping tariffs ranging from 8% to 10% on work holders imported from China to protect local manufacturers from unfair pricing practices.
March 2023
This is expected to shift some trade towards other Asian suppliers like Taiwan and South Korea, while potentially increasing costs for EU importers.
Revised rules under the USMCA (United States-Mexico-Canada Agreement) have reduced tariffs on work holders traded between member countries, promoting regional trade.
January 2023
Trade volume between the US, Canada, and Mexico for this category is projected to increase by 5-7% over the next two years.
Introduction of smart work holders with IoT integration for real-time monitoring has gained traction, particularly in Germany and Japan, leading to higher export values.
June 2022
This innovation is likely to create a premium segment in the market, increasing overall trade value while catering to high-end manufacturing sectors.