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In the global and Chinese tool markets, the extensive applications of manual tools and their massive demand are truly unimaginable. These tools are not only widely used in everyday life but also play a crucial role in industries like automotive maintenance. With the rapid increase in car ownership over the past two years, the automotive aftermarket has seen significant growth, particularly in the repair and maintenance sector. According to recent data, China's total vehicle ownership has surpassed 35 million units, with private cars exceeding 18 million. Moreover, new cars have accounted for 60% of the total in the last four years.
Looking ahead, China’s hardware tool industry is set to achieve major breakthroughs in product development, standardization, and market expansion over the next five years. The industry has outlined five key development goals:
First, it will focus on developing electric tools, hand tools, measuring instruments, range finders, pneumatic tools, garden tools, and desktop tools. Special emphasis will be placed on high-end assembly tools, automotive tools, construction hardware, and kitchen electric appliances. The aim is to accelerate the formation of a diverse range of products with core technologies and independent intellectual property rights.
Second, the industry aims to reach an export volume of $10 billion by 2015, with self-owned brands accounting for 10% to 15% of that. It will encourage leading enterprises to consolidate their strengths through optimized shareholding structures and compete globally. High-energy consumption and polluting companies will be phased out. Advanced management systems will be introduced, and research and innovation will be prioritized. At least 5% of sales revenue will be allocated to R&D, with half of all patents being applied practically. One or two provincial or national engineering technology centers will be established to support innovation.
Third, large enterprises will be encouraged to implement strict quality control, establish advanced laboratories with professional testing equipment, and ensure consistent quality standards. This will help maintain a competitive edge in both domestic and international markets.
Fourth, the industry aims to enhance the global recognition of Chinese brands and expand their presence in high-end foreign markets. At the same time, it will work to increase the market share of premium domestic tools.
Fifth, several well-known companies have emerged in the Chinese tool industry, such as Shandong Wendeng Power Tools Group and Zhejiang Ningbo Great Wall Precision Industry Co., Ltd. Leaders from these companies have shared their visions for the future. Yu Zhijiang, Chairman of Shandong Wendeng, emphasized that rising incomes and economic growth have led to higher demand for premium and branded tools. This trend is essential for the long-term competitiveness of domestic manufacturers.
Like other manufacturing sectors, the Chinese tool industry faces challenges such as rising labor costs, limited supply chain support, energy shortages, and stricter environmental regulations. To overcome these, Wendeng plans to strengthen its core products, including wrenches, pliers, sockets, and kits, while upgrading production lines for efficiency and quality. Brand building is also a top priority. The company has already launched its original export brand, MAXPOWER, under the Maipo brand in China and invested RMB 100 million to develop this brand further.
Additionally, establishing effective sales channels and promoting the brand is crucial. Companies should explore both direct sales and agent networks, while leveraging media partnerships to build awareness. After-sales service remains a critical weakness in many domestic firms. Strengthening this aspect is vital for long-term success and customer satisfaction.
Finally, the industry is focusing on integrating production, education, and research to boost innovation. During the “Twelfth Five-Year Plan,†major technological projects will be implemented to support enterprises in pursuing national and provincial innovation initiatives. This approach will help create a more sustainable and competitive tool industry in China.