In the context of the continuous development of the global manufacturing and construction industry, hardware tools, as an indispensable basic equipment, the market demand is rising. According to the latest data, the market size of the global hardware tools industry is close to 100 billion US dollars, and the Asia-Pacific region has become the world's largest consumer, while North America and Europe dominate the high-end market consumption.
Hardware tools cover two categories: power tools and non-power tools. Power tools are powered by electric and fuel-powered energy sources, including high-performance professional tools such as drills, cutters, and chain saws, while non-powered tools rely mainly on human operation, such as basic tools such as hand wrenches, screwdrivers, hammers, and toolbox cabinet sets that contain these tools. The diversity of this market segment reflects the differentiated needs for tool performance and convenience in different work scenarios.
China is one of the world's largest hardware tool production and sales markets, while North America and Europe have become the core consumption areas of high-end hardware tools products with their developed industrialization level and high consumer purchasing power. In the North American market, large supermarket chains such as Home Depot and Walmart are the traditional main sales channels, however, the rise of e-commerce is gradually changing this format, and although the share of online platforms is relatively limited, its growth momentum is strong, indicating a broad space for development in the future.
Global hardware industry market share
Greatstar Technology, with a market share of about 2.6%. Headquartered in Hangzhou, Zhejiang, its products cover hand tools, power tools, pneumatic fastening tools, laser measuring tools, lidar, industrial storage cabinets, industrial vacuum cleaners, etc. Superstar has 5 R&D centers around the world, with R&D and design capabilities, serving the world's large-scale building materials, hardware, department stores, auto parts and other supermarket chains and various industrial users, and is a partner of many professional-grade tool brands. Its brands include ARROW, PONY&JORGENSEN, Goldblatt and BeA.
Snap-on, with a market share of about 6.3%. It is a tool manufacturing enterprise with a history of 100 years, and its product line covers hand tools, power tools, pneumatic tools, tool carts and cutting tools. Its brands include SNAP-ON, SIOUX, LINDSTROM, etc., and Makita, with a market share of about 8.1%. Headquartered in Aichi Prefecture, Japan, its main business includes the manufacture and sales of power tools, woodworking machinery, pneumatic tools, household and garden machines, etc.
Bosch, with a market share of about 10.0%. It is the world's leading manufacturer of power tools and accessories, with four main categories of products: handheld power tools, desktop power tools, measuring tools and power tool accessories, and TTI Industries, with a market share of about 19.7%. It is designed for DIYers, professionals and industrial users to provide home improvement, repair, maintenance, construction and infrastructure products. The company has a strong product portfolio with a global manufacturing and product development footprint under brands such as MILWAUKEE, RYOB and HOOVER.
Stanley Black & Decker, with a market share of about 23.3%. Founded in 1843, it has been a company with a passion for creativity since its inception, designing and inventing many hardware tool products that are still widely used today, and has become one of the largest manufacturers of tool products in the world. Stanley Black & Decker has a sales network in more than 130 countries and regions, and its products are suitable for various types of industrial users, and it is a veritable world tool expert, with an annual revenue of 15.781 billion US dollars (equivalent to about 114.1 billion yuan), and it owns a number of first-line tool brands such as Stanley, Proto, and Facom.
Market analyst comments: With the development of intelligent manufacturing, Internet of Things and automation technology, traditional hardware tools need to be continuously innovated and upgraded, and intelligent, portable and multi-functional technologies are introduced to meet the market's demand for efficient, accurate and humanized tools. While responding to the challenges, hardware tools-related enterprises should seize the opportunity to make strategic adjustments, increase R&D investment, improve product quality and brand image, optimize supply chain management, and adapt to new consumption patterns and market demand to achieve long-term sustainable development.