Market Development Status and Trend Analysis of China Hardware Industry

Traditional hardware items, also known as "small hardware". Refers to the five metals of gold, silver, copper, iron and tin. After manual processing, it can be made into art or metal devices such as knives and swords. Hardware items in modern society are more extensive, such as hardware tools, hardware parts, daily hardware, construction hardware and security products. Small hardware items are mostly not final consumer goods.

Status of Hardware Industry

The rapid development of the hardware industry, in the long process of market evolution, many companies have gradually withdrawn from this industry due to operational and development problems. According to data from the National Bureau of Statistics, there were 67 hardware markets in China in 2019, a year-on-year decrease of 1.5%.

According to data from the National Bureau of Statistics, in 2019, the number of booths in China's hardware market was 42,748, a year-on-year decrease of 9.1%; the business area of China's hardware market was 4.363 million square meters, a year-on-year increase of 4.2%.

Now at least 70% of China's hardware industry are private enterprises, which are the main force in the development of China's hardware industry. Hardware still has a broad market and consumption potential. According to data from the National Bureau of Statistics, the turnover of China's hardware market in 2019 was 95.81 billion yuan, a year-on-year decrease of 1.1%.
Among them, the turnover of China's hardware retail market in 2019 was 5.65 billion yuan, a year-on-year decrease of 21%; China's hardware items

The wholesale market turnover was 90.15 billion yuan, a year-on-year increase of 0.5%.

Hardware Industry Shows Large-Scale

Provinces and cities such as Zhejiang, Jiangsu, Shanghai, Guangdong and Shandong are relatively large hardware markets in China. At present, my country's daily hardware industry has entered the forefront of the world. my country has successively established 14 technology development centers such as zippers, electric shavers, stainless steel utensils, iron pans, blades, and bicycle locks, and 16 product centers such as pressure cookers, electric shavers, and lighters. At the same time, my country has gradually become one of the major processing and exporting countries of hardware items in the world.

The hardware industry is diversified and various parts of the country are building hardware professional markets. At present, a pattern of reasonable matching between origin type and circulation type, large and medium-sized type, comprehensive type and single type has been formed, which complement each other. The diversification effect can not only gather most hardware merchant operators, but also introduce well-known domestic and foreign brands, and finally form one of the largest hardware items wholesale bases in my country.

The Transformation and upgrading of the Domestic Hardware Industry are Crucial

In the past, the hardware market was in a situation where the supply was in short supply, but now it has changed, and the supply has exceeded the demand. With the change of this market situation, manufacturers have begun to focus on high-quality and high-tech products. Transformation and upgrading will be the inevitable trend of future industry development. With the intensified competition among enterprises, the profit margins of major enterprises have been compressed, and the survival of enterprises is facing difficulties. The entire international market is also raising the standards of hardware items, and has put forward more stringent requirements for quality, packaging, and delivery deadlines.

Industry insiders pointed out that the transformation and upgrading of my country's hardware products industry will usher in a new foreign trade pattern, and the biggest change may be that the export volume of high-tech products will increase.