Hardware power tools must accelerate the development of new markets

The power tool industry is rapidly evolving, driven by technological innovation and a growing demand across multiple sectors. As China continues to develop and expand its global connections, the potential for growth in this sector has become increasingly evident. However, compared to international competitors, Chinese manufacturers still lag behind in terms of technology and market positioning. According to industry expert Luo Baihui, technological advancement is key to the future success of the power tool industry. Given its high-tech nature, the industry must continuously adopt and integrate new technologies to enhance product performance and competitiveness. Power tools are widely used in advanced manufacturing sectors such as aerospace, high-speed rail, shipbuilding, and automotive industries, as well as in construction, wood processing, and metalworking. The global power tool market can be categorized into three main segments: industrial, professional, and DIY. Industrial-grade tools are designed for high-precision applications and environments with strict environmental standards, such as aerospace. These products require advanced technology, offer higher profit margins, but serve a more limited market. On the other hand, DIY tools are used in home repair or simple decoration tasks, where precision and long-term use are not critical. These tools typically have lower technical complexity and lower profit margins. Currently, most Chinese power tool manufacturers focus on the DIY segment, relying heavily on price competition, which leads to a fragmented and low-end market. In contrast, professional-grade tools are far more sophisticated, offering greater power, speed, longer motor life, and higher value. They cater to a broader market, come with higher barriers to entry, and carry significant brand value. Despite this, the domestic market is still dominated by foreign brands like Bosch, Makita, Hitachi, and Dewalt. However, recent trends show a decline in the market share of these international giants, with local brands like Ruiqi making steady progress and gaining ground. Ruiqi, now one of the top four players in the domestic market, has grown rapidly in just seven years since its launch. It is considered the fastest-growing newcomer, showing strong potential to catch up with established names like Bosch and Makita. As the only publicly listed company focused on power tools in China, Ruiqi has the opportunity to lead the industry’s transformation through capital market support and strategic reorganization. Looking ahead, industry experts believe that the domestic power tool market will undergo consolidation, leading to a more organized and standardized landscape led by a few major players. Market shares between domestic and foreign brands are expected to shift further, with local brands gradually replacing imported ones. To stay competitive, companies must improve product quality, invest in research and development, and focus on innovation—especially in battery-powered and electronically controlled tools. Additionally, enhancing service capabilities and optimizing product structure will be crucial for long-term success. While the market for electric tools is promising, there remains a need for better product diversity and higher technical standards. Most domestic tools are still traditional high-speed models, lacking the advanced features found in international counterparts. By addressing these gaps, Chinese manufacturers can position themselves for sustainable growth and global recognition.

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