Hardware industry speeds up replacement
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“From the process point of view, the current level of domestic production process is uneven, many large foreign companies to China as their product processing base, many international companies have entered the mainland market one after another.†Analyst Luo Baihui believes that at present, it is the period of upgrading of China's hardware products, from the low-end to high-end products in the over-period. This is very beneficial to the development of China's hardware industry, in the process of the transfer of production of foreign products to the domestic, it will inevitably bring along some advanced foreign production processes and management models including raw materials.
From the traditional hardware point of view, the first is the tool, which is a rapid development of manual tools, hydraulic tools, and power tools. The second is the construction hardware and decoration hardware. The replacement speed is faster.
In addition, there is a great demand for hardware parts and components. Hebei Handan, a small processing plant, is lagging behind in production, and its sales force across the country has reached more than 100,000. After more than ten years of accumulation and steadily increasing, China's hardware industry is now the world's largest producer, and its exports have steadily increased each year.
Among them, the largest export value is the tool products, up to 5.34 billion US dollars; followed by construction hardware, for 4.34 billion US dollars. The tap exports 2.23 billion U.S. dollars and the locks export 680 million U.S. dollars. The countries with the most exports are the United States, Japan, Europe, and South Korea. The annual export of China's hardware industry is growing at a rate of around 8%. Last year, the export volume of hardware products exceeded US$5 billion, ranking third in the export ranking of light industry. Due to the increase in the level of Chinese hardware manufacturing and the expansion of production capacity, China's hardware products are expected to maintain a steady growth of over 10% per year over the next five years. In the first 10 months, the import and export volume of hardware and electromechanical products in China exceeded 500 billion U.S. dollars. The surplus further expanded, totaling 7.06 billion U.S. dollars, accounting for 64% of the national trade surplus in the same period.
The material is food grade 304 stainless steel which is anti rust and easy to wash