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Power tool market has developed rapidly

Update:10 Nov 2018

With the globalization of the economy, the power tool m […]

With the globalization of the economy, the power tool market has developed rapidly.

As the saying goes, opportunities are often accompanied by challenges.

1. Compared with the high level in the international market, China's power tool production technology and management level is low, and the product function is single.

In order to become bigger and stronger in the international market competition, it is necessary to expand the market share of the middle and high-end market, and the international market competitiveness of products needs to be further improved.

2. Due to the low barriers to entry in China's power tool industry, the investment in independent innovation, product research and development, brand cultivation, etc. is relatively small. The awareness of power tools with independent intellectual property rights in the international market is far from enough, international marketing The network has not yet been effectively established. Independent innovation capability and brand awareness must be further strengthened.

3. Foreign trade exports are facing a severe situation. The main raw materials for the production of electric tools such as steel (including silicon steel sheets), copper (enamel products such as enameled wire), aluminum alloys, magnesium alloys, engineering plastics, etc., remain at high prices, resulting in the production cost of power tools. Continue to climb, directly affecting the export benefits of the product.

With the application of industrial ceramics, high-performance soft magnets and new plastic packaging materials on new products, it is expected that the application of new low-carbon environmental protection materials will increase in the future.

4. The continuous appreciation of the renminbi has a certain impact on the export of electric tools. China's power tool industry has to achieve new achievements in foreign trade, and many difficulties still need to be overcome.

5. The status of China's power tool exporting countries is increasingly being challenged by developing countries. The level of technology and management in developing countries is currently improving to a large extent, and labor and raw material costs are low, which has brought a lot to China's power tool industry. Large competition pressures and international competition are becoming increasingly fierce.

6. The international and domestic markets are more critical of the quality and brand of power tools. Whether it is a power tool dealer or a direct user, the quality and brand of power tools are highly valued.