5 Flaws Restricting the Development of China's Hardware Tools Market

According to a recent survey on China's hardware tools market, hardware tools have been widely used in all kinds of application fields, such as geological prospecting, stone, machinery, automobile, and national defense industries. However, gap still exists in technological level when compared with homogeneous goods in foreign countries. There are five flaws that restricted the development of China's hardware tools market.

1. Leading hardware tools companies have little master of advanced competition techniques.
2. Weak in technological innovation.
3. Single market structure. Major hardware tools business comes from foreign trade orders. China's hardware tools companies are highly dependent on export. Faced with international financial crisis, these companies witness a shrinking market.
4. Backward brand establishment. 
5. Public platforms fail to take the lead.

The overall development standard of a certain industry rests with the companies' management standard and developing speed. To realize the transformation, all hardware tools companies should build up self dependence, reduce production costs and increase economic efficiency by constantly improving production process.

In recent years, with the rapid development of the auto industry, market demand for auto parts have seen an substantial increase. Auto accessories and tools include spanner, jack, nail, etc. Usually these tools adopt 12V direct current as power, and they are small in volume, light in weight, superior in performance, and safe during use. Electric nailer can also be used in decoration, woodworking, etc.

Machine tools have been attractive in the hardware tools market, especially driven by the good momentum of growth in electric power tools, burglar-proof doors, scooter, thermos cups, etc. To meet global hardware tools market demand, the development of new products, such as diamond drills, diamond honing stone, diamond roller wheels, rubber bonding agents, PCD cutters, are extremely urgent. Joint efforts should be made in enhancement of product quality, increase in product category, and improvement in output. Recently, demand for diamond tools in machinery, gemstones, medical devices, wood, glass fiber reinforced plastics, ceramics, and non-metallic materials has seen an annual growth. To guarantee the products' quality, promotion of new technologies and new processing techniques, such as vacuum welding techniques, spark sintering techniques, and laser welding techniques.