Hardware power tool companies accelerate industrial restructuring

June 18, 2019

Hardware power tool companies accelerate industrial restructuring Looking into the electric tool industry, the electric tool industry is also rapidly developing in recent years, but it is still at a backward level compared with foreign related companies. For the rapid development of the power tool industry, technology is crucial. With the particularity of the power tool industry, it is a high-tech industry. Enterprises must actively introduce relevant technologies to enhance their own strength. The power tool industry belongs to the advanced equipment manufacturing industry and upgrades its services to the advanced manufacturing industry. Electric tools are widely used in aerospace, high-speed rail construction, shipbuilding, automotive and other advanced equipment manufacturing industries as well as construction roads, decoration, wood processing, metal processing and other production areas.

The global power tool industry can be divided into three levels: industrial level, professional level and DIY household level according to the technical requirements and application fields of the product. Among them, industrial-grade power tool products are mainly used in workplaces with high process accuracy or environmental protection requirements, such as aerospace, and have the characteristics of high technical requirements, high profits, and small market scope; DIY household-level power tools are mainly It is used in occasions where the accuracy is not high and the operation time is not long, such as home repair, simple decoration and other occasions, with low technical content and low profit. At present, most of China's power tool manufacturers are producing DIY household-level power tools. Product sales mainly use price as a competitive measure, which presents a low-end, disorderly competition. The professional-grade power tools are far more than DIY-class products in terms of technical content, application areas, product added value, or product gross margin. Professional-grade power tools have large power, high speed, long motor life, and can continue to be repeated for a long time. They have high technical content, high profit margins, a wide market range, high industry threshold, and high brand value.

China's domestic power tool market is firmly controlled by foreign giants such as Bosch in Germany, Makita in Japan, Hitachi in Japan, and Dewey in the United States. Judging from the trend in recent years, the share of foreign brands in the domestic market is in a downward avenue. The rise of Ruiqi's power tools continues to expand market share and replace imported brands. In the top four in terms of domestic market share, Ruiqi is the youngest rising star, but it is the fastest-growing rookie. It has been among the top four in the market in just seven years since it was put into operation. There is a trend to catch up with the German Bosch and Japanese Makita that have been a hundred years old.

Looking at the status quo of the domestic power tool industry, the majority of companies producing DIY household-grade power tool products occupy the majority of their products. Professional-grade product factories that can form product series are extremely rare, with low industry concentration and lack of leading companies. Judging from the development trend, domestic brands will inevitably undergo industry reshuffle, eventually forming an orderly situation led and standardized by a few leading companies; between domestic and foreign brands, market shares will be redistributed, and domestic brands will continue to replace foreign investment. Brand. The industry's internal integration needs will surely be led by industry leaders. It can be foreseen that Rui Qi, as the only listed company that mainly deals with power tools, has the opportunity and the ability to stand on the stage of the capital market to promote the reorganization and restructuring of China's power tool industry.

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