Intelligent·Green·Global: The Growth Logic and Industrial Upgrading Pathway
Views: 1 Author: Site Editor Publish Time: 2025-04-28 Origin: Site
In the global market, the hardware industry is undergoing profound changes, and a series of hot topics deserve attention.
With the prevalence of the DIY culture and the development of industries such as automobiles and construction, hardware tools are being applied more and more widely in scenarios such as courtyard beautification and home decoration. Data shows that the global manual tool market will have a compound annual growth rate of 4.07% from 2024 to 2030. The Asia-Pacific, North America, and Europe are the main consumer markets. The global market value of the hardware tool industry was approximately $50 billion in 2023 and is expected to grow to $80 billion by 2025. Currently, hardware tool products exhibit the characteristics of multi-functional combinations and ergonomic designs to meet the needs of diverse groups of people.
Under the changing global economic landscape, China's hardware and electromechanical industry faces both opportunities and challenges. In 2023, the global hardware tool market size exceeded $530 billion and is expected to exceed $580 billion by 2025. As the largest producer and exporter, China's export value of hardware and electromechanical products exceeded $350 billion in 2023, accounting for nearly 30% of the global trade share. However, the global market environment is complex. Trade frictions, geopolitical issues, etc. have complicated the supply chain, and there is a differentiation in demand regions. Developed countries have a growing demand for high-precision, intelligent, and environmentally friendly products. Emerging markets, due to the acceleration of the industrialization process, have a strong demand for basic hardware tools. Although China leads in the export volume of hardware and electromechanical products, it faces problems such as insufficient technological innovation and weak brand influence. It needs to transform from "OEM export" to "brand going global" and strengthen its capabilities in technological research and development and standard setting. National policies such as the Belt and Road Initiative and the RCEP agreement provide support for the internationalization of the industry.
