Development status and Prospect Analysis of hardware tool industry in 2021

Hardware tools, including various hand tools, electric tools, pneumatic tools, measuring tools, abrasives, cutting wheel, tool machinery, tool accessories, etc. China's hardware tool market is mainly distributed in Zhejiang, Guangdong, Jiangsu, Shanghai, Shandong and Sichuan. Among them, Zhejiang and Guangdong are the most prominent, and Yongkang in Zhejiang is known as the "hometown of hardware". Most of the electric tools sold in the world are produced and exported from China, and China has become a major supplier of electric tools in the world. According to the market research reports of fMRI and statista, the global optoelectric tool industry will reach US $36.2 billion in 2020 and US $46.5 billion in 2025.

According to the report on supply and demand analysis and development prospects of China's hardware accessories industry from 2020 to 2025 issued by China Research Institute of Puhua, at present, the hardware industry is running well, China's hardware exports maintain a stable growth trend, and it is estimated that the annual export volume will still maintain a growth of 10-15% in the future.

The industry is developing rapidly, but there are still problems. Although the enterprise has made great progress in scale, product quality and innovation ability, there are some problems and challenges in maintaining sustainable development.

1. Procurement

There are some problems in hardware tools purchasing, such as poor market information, large inventory and large capital occupation. Or the phenomenon of short supply will affect the normal production and operation of enterprises. Or inventory backlog, high cost, affect the economic benefits of enterprises. The traditional procurement mode is relatively backward in operation mode and transparency.

2. Sales model

The sales mode of the hardware tool industry is still relatively traditional offline business, but the demand for hardware products in the whole market is very huge. A single sales channel will lose a lot of lists. Relying on Internet technology to develop new sales channels has become the choice of enterprises.

3. Supplier

Lack of effective supplier evaluation system, unable to identify high-quality suppliers, high procurement risk. Cross regional and inter departmental information does not exchange, unable to share purchasing information in time, inefficient.

Therefore, the competition between enterprises is essentially the competition between different supply chains. In order to win in the competition, enterprises must establish a whole set of agile and rapid response supply chain within the company and among partners.

In the past year, we have broken through difficulties, persevered in exploration, searched for a way out in hesitation, and braved the wind and waves! 2021, new goal, new journey, long journey, we take advantage of the situation!