In the article, it's highlighted that despite the financial crisis in previous years, China's hardware exports have shown a steady recovery since 1999. The foreign exchange earned from hardware exports increased significantly, rising from $2.76 billion in 1995 to $3.847 billion in 1999—an impressive 71.74% growth with an average annual increase of 11.4%. Since then, the trend has continued to grow steadily. Today, at least 70% of China’s hardware industry is made up of private enterprises, which play a crucial role in driving the sector forward.
As the domestic hardware market continues to expand, China's daily hardware industry has taken a leading position globally. Since 1996, the country has established 14 technology development centers covering products such as zippers, electric shavers, stainless steel containers, iron pans, blades, and bicycle locks. Many of these products have become industry leaders, with some even achieving global prominence. For instance, Zhaoxing Group, a major zipper manufacturer, generates over 320 million yuan in output value annually. China is now recognized as a leading player in hardware processing and export, with its hardware exports growing at a rate exceeding 10%, and last year's exports surpassed $5 billion, ranking third among China's light industrial exports.
In the international hardware market, developed countries like the U.S. and Europe are shifting the production of standard products to developing nations, focusing instead on high-value-added items. China, with its strong market potential, is well-positioned to become a major exporter of metal processing goods. The main hardware markets in China are concentrated in Zhejiang, Jiangsu, Shanghai, Guangdong, and Shandong, with Zhejiang and Guangdong being the most active.
According to Luo Baihui, secretary-general of the International Mould and Metals and Plastics Industry Suppliers Association, hand tools, gardening tools, wrenches, and pliers are the top four exported categories. The U.S. leads in hardware imports, followed by the UK, Germany, and Japan. In the U.S., demand for hand tools remains stable, but with a surge in new home construction and a large number of vacant homes, there are significant opportunities in the renovation market. Additionally, the increasing age and variety of vehicles have boosted the demand for automotive aftermarket tools, especially adjustable wrenches.
In Germany, comfort and efficiency are key factors influencing tool purchases. Tools with smooth handles and attractive designs are highly sought after. Power tools, particularly cordless models, are gaining popularity due to their versatility and adaptability in various environments. Rechargeable tools with multiple battery options are now widely available, making them ideal for both professionals and DIY enthusiasts.
Taiwan's hand tool industry is known for its stable quality, timely delivery, and comprehensive product range. It holds a competitive edge in the global market and mainly focuses on off-island sales. There are approximately 5,000 local manufacturers, mostly located in central Taiwan.
Looking ahead, domestic construction hardware is expected to evolve toward more intelligent and user-friendly designs. According to Luo Baihui, developed countries are accelerating the transfer of mid-to-low-end products to the Third World, while focusing on high-value-added items. As a result, products that are easy to install and maintain are becoming increasingly popular, and self-assembled tools and kits are also gaining traction in the market.
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