Development Status and Prospect Analysis of Hardware Accessories Industry in 2022

As the world’s largest steel producer and the world’s most populous country, China has the advantage of low cost of raw materials and labor for manufacturing hardware products. The vigorous development of China’s industry has created a huge demand for hardware. In addition, with the continuous development of the national economy, The automotive industry, construction machinery, agricultural machinery, environmental protection machinery, machine tools, etc. have higher and higher requirements for hardware, springs and basic parts. The performance, quality, reliability, variety, specifications and requirements of products are getting higher and higher. The substantial increase in the export volume of the international market has created an unprecedented huge demand in the hardware industry.

According to the “2020-2025 China Hardware Accessories Industry Supply and Demand Analysis and Development Prospect Research Report” by the China Research Institute, the current hardware products industry is running well, the growth momentum of domestic and foreign sales is obvious, the import and export are growing rapidly, and various economic indicators are rapidly improving. The industry as a whole has basically recovered to the level before the financial crisis. In recent years, my country’s hardware product exports have maintained a steady growth trend. my country has become the world’s largest hardware processing and exporting country, with a broad market and consumption potential. It is expected that the annual export value will maintain a growth of 10-15% in the future.

The Industry is Growing Rapidly, but There Are Still Flaws

After more than 20 years of reform and opening up, my country’s hardware industry has made great achievements, which has a positive impact on the world’s hardware industry, and has attracted the attention of all countries in the world to China’s hardware industry. Although our enterprise has made great progress in terms of scale, product quality and innovation ability, there are many problems and big challenges in maintaining sustainable development.