2016 China Hardware Tools Industry Status and Forecast

Reading: From January to March 2016, the national hardware industry completed cumulative export growth of -14.05% year-on-year, and the growth rate has dropped sharply for the first time in recent years, a decrease of 28.02 percentage points from the same period of last year. Among them: In January, the export volume increased by -13.71% year-on-year; in February, -38.68%; in March, 28.84%. In March, both export volume and year-on-year growth have significantly increased, and export growth has again returned to positive growth.

In the hardware industry, the three industries including metal kitchen utensils and household appliances, metal hand tools, household stoves and similar appliances and their components accounted for relatively high proportion of exports in the first quarter of 2016, exceeding 10%. The forefront of the industry. In the first quarter, all sub-sectors of hardware were negative growth, and the metal packaging containers and accessories industry declined the most, exceeding 20%.

China's hardware and tools industry will upgrade to service-oriented manufacturing in the future

At present, the development of the European and American traditional hardware tool manufacturing countries is facing a recession, and the Chinese hardware tool industry is developing in the direction of specialization, clustering, and gentrification.

The comprehensive strength of the country has been increasingly strengthened. China's high-end manufacturing industries, such as high-speed rail manufacturing, have gained global recognition. This has also opened up the international market for the international recognition of industrial-grade tool hardware products. The rise of China's manufacturing industry requires both the application and output of high-end products and the overall improvement in the level of manufacturing of industrial basic products. In addition, the country is vigorously promoting the "One Belt and One Road", and it also provides the best channels for tool hardware products to reach emerging markets.

With respect to domestic sales, with the increasing demand in the domestic specialized manufacturing sector and the gradual improvement of the sales channel system, there have been tremendous improvements in the case of small internal sales and slow return payments that companies were worried about in the past. Enterprises can either build their own domestic sales system or they can cooperate with trade dealers with comprehensive strength to jointly develop the market. The stability of the domestic market not only helps enterprises effectively resist overseas market risks, but also brings more business opportunities for the development of the company.

The transformation and upgrading of hardware tools to service-oriented manufacturing will become the direction of future manufacturing development. Hardware tools are industrial service products that provide basic support for the development of the manufacturing industry. They are also typical of service-oriented manufacturing development in the hardware segment industry. At present, the backbone enterprises in the industry are no longer confined to simply providing after-sales services, but have realized service advancement (from design and R&D), joint development, and full-process coverage, and are striving to complete the transition from production-oriented to service-based.

Although there have been some achievements in serving domestic high-end professional users, the industry still faces difficulties and challenges. While insisting on pursuing high standards, high quality, high efficiency, and high profits, hardware tool manufacturers should also strengthen channel creation and brand awareness, and strive to make domestic high-end tools gain more recognition and influence.

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