Landscape of Tool Market in China
Based on the purpose of tools, this large section can be classified into hardware tools, building hardware, daily hardware, locks & abrasive tools, kitchen hardware, household tools, Furniture Fittings, and Components & Parts. Among those categories, tools used for gardening, household, and car maintenance are in a sales performance of solidity or even boom. Over the past few years, tools manufacturing industry has been keeping a status of increasing and also formed an industrial cluster in Yong Kang, a county in Jinhua of Zhejiang province due to its labor-intensive nature. In terms of domestic market, an annual growth of 25% in China’s market seems a confident sign whereas this promising figure is always generated from the sales result of those well-known international brands and high-end products. Even foreign brands take a dominant leader place regards to sales record, majority of their products are all made-in-China and OEM goods. As a result, Chinese hardware tool manufacturers merely position themselves in the downstream of industry chain and value chain. However, foreign brands grab generous profits.
Key Players in the Market Segment of Household Tools
According to the standard of quality-price ratio, all the hand tool brands can be categorized into following grades: Upscale Level:
- SATA Tools is a wholly owned subsidiary of Danaher Group.
- STANLEY Hand Tools, a division of Stanley Black & Decker, is an American manufacturer of tools and household hand and provider of security products.
- Carl (卡尔) is a Chinese brand of hand tool and is dedicated in manufacturing, developing, and selling hand tools and security products.
- Emmet Tools, from America, has already set up four sale branches and established more than thirty sales & service providing centers in China.
Mid-priced Brands:
- Endura (力易得) is a professional tools manufacturer, founded in 1998 in Shanghai, and specializes in designing, manufacturing and marketing various kinds of hand tools.
- Jetech Tool (捷科), established in 1999 and based in Hong Kong, produces and sells more than ten categories of products which cover nearly 2000 specific tool types under 30 applied patents. Screwdrivers and hex keys manufactured from this company are regarded as the absolute superior in domestic market.
- Sheffield (钢盾) was set up in 1993 in Hangzhou. After developing for 10 years in hand tools market, Sheffield has become the biggest hand tool vendor in Asia and is specialized in designing and producing high quality products.
Low-end Brands:
- De & Li Tools (得力) is a Sino-US joint venture which is located in Yu Yao industrial zone in Ning Bo and is dedicated in producing hand tools.
- Shiji Bosi (波斯) enterprise limited is located in Ningbo and focusing on designing, developing, and producing more than 2000 kinds of hand tools.
- Bestir (鹰之印) was initially founded by a German and a Chinese in Indonesia in 1930 and transformed headquarter to Taiwan where it boomed. After entering Guangzhou and Foshan in 2001, Bestir began to focus on selling hand tools and automobile or motorcycle maintenance tools.
- Lifting Tools (力孚汀) is another wholly owned subsidiary of Emmet Tools and mainly focusing on household hand tools.
Forecast on Development of Hand Tool Set in China
On the 21st China (Shenzhen) International Gifts, Handicrafts, Watches & Housewares Fair, there is a trend that hand tools used within home are becoming the work of art with exquisite workmanship, innovative creativeness, and humanity functions. The second highlighting spot can be found on the fair is that some brands of hand tool have already launched campaign of “Hand Tool Set for Gift”. In another way to say, hand tool manufacturers are going to put more efforts on developing the sales channel into gift industry with refined appearance and fashionable design elements. Apart from this, high-end hand tools are expected to take up a place in this market and break through the traditional and single function from repairing home devices to be multi-functioning for fixing private cars and home repairs.
Daxue Consulting Expertise
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Written by Limo, a Chinese consultant from Daxue Consulting.
Source of data: Wujin.hc360: https://info.wujin.hc360.com/2013/03/070950554964.shtml
