Domestic hardware and power tools expand new markets with new technologies

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The hardware power tool industry actively introduces technology to promote its own strength, China's rapid development, the integration of foreign exchanges, in the power tool industry, has developed rapidly in recent years, but in comparison with foreign related enterprises or at a backward level. Professionals believe that the technology is very important for the rapid development of the power tool industry. The particularity of the power tool industry, it is an industry with high technical content, enterprises must actively introduce relevant technologies to enhance their own strength.

The power tool industry belongs to the advanced equipment manufacturing industry, and enhances the advanced manufacturing in the service. Power tools are widely used in aerospace, high-speed rail construction, shipbuilding, automobiles, and other advanced equipment manufacturing industries and road construction, decoration, wood processing, metal processing and other production fields.

The global power tool industry can be divided into three levels: technical level, professional level and family level according to the technical requirements of the product, application field, etc. Among them, industrial-grade power tool products are mainly used in workplaces with high requirements for processing accuracy or working environment protection, such as the aerospace field, with high technical requirements, higher profits, and small market scope; DIY home-level power tools are mainly used in occasions with low precision requirements and short continuous operation time, such as home decoration, simple decoration, etc., with low technical content and low profits. The home-level power tool products produced by China's largest power tool manufacturer, the product sales price as the main means of competition, are all in a low, disorderly competition state.

Professional power tools are much higher than homemade products in terms of technical content, application scope, value-added products or product gross profit margin levels. Professional-grade power tools have high power, high speed, long motor life, can continue to work repeatedly for a long time, high technical content, high profits, wide market scope, high industry threshold, and high brand value.

China's domestic power tool market is firmly grasped by foreign brand giants such as Germany's Bosch, Japan's livestock farm, Japan's Hitachi, and the United States's Must-haves. Luo Ming pointed out that the trend in recent years has been that the domestic market share of foreign brands has been declining, and Richard Power Tools has been rising, constantly expanding its market share and replacing imported brands. Among the top four in the domestic market share, Richard is the youngest rising star, but it is the fastest growing one. The factory has a certain production from seven years, and has become the first four market share, chasing the trend of Germany's Bosch and Japan's livestock farm in recent years.

In general, the domestic power tool industry, enterprises producing DIY home-level power tool products account for the vast majority, and professional-level product factories that form product series are extremely rare, with low industrial concentration and lack of leading enterprises. From the development trend, domestic brands have experienced industry reshuffles, and finally formed some leading enterprises and standardized and orderly situations; between domestic and foreign brands, the market share will also be redistributed, and domestic brands will continue to replace foreign brands. The internal integration of the industry's needs will give corporate leaders a celebration.

It can be foreseen that Richard is the only major tool listed company, with the opportunity and ability to stand on the stage of the capital market, promoting the reorganization of resources and model reforms in China's power tool industry. Consolidate the occupied market, further cultivate and open up new markets, and Conghui suggests focusing on the following aspects in the future: improve product quality and accelerate the development of new products. Special emphasis is placed on accelerating the development of battery power tools and electronically controlled power tools, and continuously improving the quality of power tools and products.