Future market outlook

Release Time:2024-04-12

After more than 30 years of development, China's hardware industry occupies a prominent position in the world and has become a major country in the production and sales of hardware in the world. Industry sales exceeded 100 billion yuan and exports exceeded 14 billion US dollars. With the continuous application of modern scientific and technological achievements in the industry, the competition in the hardware and electrical appliance industry has become increasingly fierce, forming a distribution center for the manufacturing and distribution of hardware products such as Linyi in Shandong, Yongkang in Zhejiang, Shaodong in Hunan, and Dazhu in Sichuan, especially Yongkang in Zhejiang. It enjoys a high reputation in the world. Driven by the domestic economy, international trade, and China's real estate industry, a large number of hardware components are in strong demand and their scale is expanding rapidly. They are maturing in a competitive market environment.

Looking to the future market prospects

According to the National Bureau of Statistics, the total turnover of mechanical and electrical products and equipment nationwide was 148.37 billion yuan in 2015; it is expected to reach 178.53 billion yuan in 2018, with an average growth rate of 7.4 percent. As the world's largest steel producer and a country with a large population in the world, China has the advantage of low raw materials and labor costs for manufacturing hardware products. In recent years, China's exports of hardware products have maintained a steady growth trend, becoming a global manufacturer and exporter of hardware products, and exports are expected to continue to grow by 10% -15% in the future.

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