China's hand tool industry urgently needs to establish brand awareness

Most of the product categories produced by hand tool manufacturers in mainland China are fastening tool products, such as basic hand drills, impact wrenches and combination types, and these products have high growth potential.

At present, the production of hand tools is mainly affected by the prices of raw materials such as steel. Most of the manual tools are meager profit products, and the market competition is fierce. It is impossible to raise the price uniformly. Individual price increases are undoubtedly equal to the old customers, and no one dares to risk losing the market. Under normal circumstances, the products sold to other industries require the manual tool industry to reduce the price by about 10% compared with the previous year. It can be seen that once the steel price rises sharply, it will directly affect the survival of manual tool manufacturers. At the same time, in addition to the company's own reasons, the competitiveness of the manual tool has a large factor determined by the quality of the raw materials, that is, the quality of the steel. At present, the use of some hand tools also has surface quality and internal cracking problems. It is a problem of steel smelting technology that cannot be ignored.

Currently, the main market for Chinese hand tool manufacturers is the overseas market. In particular, hand tool manufacturers in Fujian, Jiangsu, Shandong and Zhejiang are increasing their production capacity to fully cope with the expected increase in export sales, expanding overseas market coverage and achieving better margins through the production of mid-range and high-end products. Hand tool manufacturers are confident about the future, with more than 50% predicting that overseas market growth will exceed 10%.

In the past, China was mainly used as a production base for hand tools. In recent years, with the rapid growth of the domestic economy, China has become the consumer market with the most potential hand tools. The industry believes that the mainland domestic market is no less than the European single market or the North American market, and the number of hand tools used is at least 400 million. Numerous manual tool manufacturers have entered the Chinese market.

Chinese consumers' information sources on hand tools are mainly concentrated in specialty stores, exhibitions, fairs, and salesmen. It is particularly worth mentioning that consumers do not know enough about brands when they first purchase. A large part of them are Know the brand and quality of hand tools after purchase and use. It can be said that the brand establishment of manual tools is the best time for Chinese manual tool enterprises.

Looking at international tool companies, the gap between Chinese tool companies is obvious.

In terms of scale, foreign companies are large in scale. For example, Schneider Electric is one of the top 500 companies. Its products include hand tools and power tools, automotive diagnostic and repair equipment, diagnostic technology and related products, which are widely used in automotive, aerospace and other commercial fields. China's tool companies are mostly small in scale, and the product line is not rich enough. The typical “more than strong”.

From the perspective of strategic planning, the products of world-class companies often give people a very clear impression. Our tool companies are over-competitive, and many domestic manufacturers and brands are not prominent in their main businesses, and their core competitiveness is poor.

From the brand point of view, foreign tool companies have become internationally renowned multinational companies, and most of China's tool companies are silent in the international market.

Technically speaking, we have a big gap with multinational companies. They all have design capabilities and processing methods. They have advanced design reserves, and our technology is seriously lacking.

In terms of talents, many foreign companies are producing in China. They pay more attention to the Chinese market. In order to gain a deeper understanding of the Chinese market, foreign manufacturers hire high-paying Chinese localized talents and are willing to pay for information. Chinese tool companies have to go out to expand overseas markets, but they lack international talents and people with rich trade experience.

From the service point of view, foreign manufacturers are based on the laws of the country where they are located, and the service is very standardized. The after-sales service of domestic enterprises is mostly not in place, or basically no after-sales service.

Of course, domestic companies also have their own advantages, such as high familiarity with the market and a better understanding of the local cultural background, so it is more likely to establish their own brand. As long as we establish effective information channels and rapid response decision-making mechanisms, establish a good reputation, and provide users with quality products and perfect services, Chinese hand-made enterprises can also open up a new world.

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