Analysis of Market Demand for Power Tools at Home and Abroad

- Aug 07, 2018 -

Analysis of Market Demand for Power Tools at Home and Abroad

A power tool is a mechanized tool that is powered by an electric motor or an electromagnet and drives the working head through a transmission mechanism. China's power tool products have grown from more than 40 varieties of more than 10 varieties in 1965 to more than 200 varieties and more than 300 specifications. In terms of production quantity, China has become a major producer of power tools in the world. In 2000, China's export of electric tools reached 85.12 million units, and the export volume (including parts and components) reached 1.225 billion US dollars. Compared with China, the export value of electric tools increased by 56% in 1999. It is much higher than the 27.8% increase in the country's foreign trade exports and the 36.9% increase in the country's exports of mechanical and electrical products. The high-speed growth of foreign trade in power tool products has attracted the attention of relevant parties.

The demand for power tool products in the domestic market has increased year after year. With the rapid development of China's national economy and the power industry providing sufficient power for factories, rural areas and families to expand year by year, it has created objective conditions for the widespread use of power tool products. In industrialized countries, more than 60% of power tool products are used in the home. The proportion of household electric tools in China is very small, which is a potential market for domestic power tool products to be developed. At present, China's power tool products market is still dominated by the industrial sector, and most of them are professional power tools, and their demand is still high-speed. According to an authoritative survey, in recent years, the demand for power tools in China has grown at an annual rate of about 18%. The demand for power tools commonly used in the service industry, such as hand drills, electric hammers, profile cutters, etc., has increased and the sales momentum has been good. Demand for other power tools such as electric planers, curved planers and nail guns continues to rise. Some special high-tech advanced power tools such as coal drills, soft shaft drills, electric scissors and other special special power tools, most domestic users, preferred imported power tools. Therefore, the internationally renowned brands of power tool products have entered the Chinese market since the 1980s. Although they are expensive, they can meet the requirements of different levels in China. At the same time, it also provides conditions and prototypes for domestic electric tool companies to learn advanced foreign technology. Promoted the development of China's power tool manufacturing industry.

The market potential of foreign power tool products is even greater. According to statistics: in 1998, sales of power tools in the world reached 6.7 billion US dollars. The value of China's export power tools products was only 590 million US dollars, accounting for only 8.8% of world sales. Full explanation: China's power tool products have great potential for export to foreign markets. In 1999, the export value of China's power tools rose to 785 million US dollars, an increase of 33%. It continued to rise in 2000, with exports amounting to $1.225 billion, an increase of 56% over the previous year. The facts of export growth over the past two years show that the demand for power tool products in China is growing in the international market. The role of the main channels in Europe and America is more prominent. Exports of power tools to Asia, South America, Australia and Africa have grown substantially. From the export of China's power tool products to 106 countries and regions in 1995, a total of 28.52 million units of exports amounted to 400 million US dollars. By the year 2000, China's power tool products were exported to 118 countries and regions, with an export volume of 85.12 million units and an increase in exports to 1.225 billion US dollars. Among them, exports to Europe and North America reached 900 million US dollars, accounting for 79.69% of China's power tool exports last year. In that year, there were 50 countries and regions in China that exported more than 100,000 electric tool products. There are 18 countries and regions with an export volume of over 1 million units. That is, the United States, the Netherlands, Belgium, Australia, France, Japan, Italy, Hong Kong, Canada, Indonesia, Spain, Turkey, Poland, Chile, Argentina, United Arab Emirates. Most of them are industrial developed countries. From the above facts analysis: the demand situation of power tools products at home and abroad, the prospects are promising.

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