This "2025 Hardware Tools Going Global Research Report" is released by Daxu Cross-border, mainly focusing on the overseas expansion of the hardware tools industry. It covers various aspects such as market size, consumer groups, the current situation of China's hardware tools industry, development trends, opportunities and challenges, and successful cases, as detailed below:
Global Hardware Tools Market Overview
- Market Size: In 2024, the global hardware tools market size reached USD 127.14 billion, and is expected to reach USD 164.56 billion by 2029, with a compound annual growth rate of 5% from 2025 to 2029. Among them, the markets for hand tools, power tools, and pneumatic tools are all expected to grow to varying degrees. For example, the global hand tools market size in 2024 reached USD 26.63 billion, and is projected to reach USD 37.48 billion by 2033 at a CAGR of 3.68%; the power tools market size in 2024 was USD 34.14 billion, and is expected to reach USD 68.04 billion by 2034 at a CAGR of 7.1%.
- Regional Consumption: The Asia-Pacific region is an important market, accounting for 40.44% of the global hardware tools market in 2022. North America is also a key market due to the strong demand potential in the DIY sector. Looking at specific countries, the retail market size of hardware stores in the United States was valued at USD 55.09 billion in 2023, and is expected to reach USD 88.12 billion by 2033 at a CAGR of 4.81%.
- Consumer Groups and Preferences: Millennials and Baby Boomers are the main consumer groups, accounting for about two-thirds of buyers. When purchasing, consumers focus on durability (53%), quality (45%), and price (29%), and tend to prefer multifunctional tools. Meanwhile, female participation in the DIY tools market is gradually increasing, with more women learning DIY skills and equipping themselves with tool kits.
Current Situation of China's Hardware Tools Industry
- Market and Export: In 2022, the market size of China's hardware tools industry reached RMB 103.96 billion and is expected to continue growing in the future. In terms of exports, the export value of hand or machine tools grew rapidly from 2018 to 2023, with the export value in the first three quarters of 2024 reaching RMB 104.012 billion, a year-on-year increase of 7.7%. China is the world's largest exporter of hand tools, exporting USD 997 million worth of hand tools in 2023, mainly to the United States, Russia, Germany, and other countries.
- Industrial Belt Distribution: Mainly concentrated in Zhejiang, Jiangsu, Shanghai, Guangdong, and other regions, forming an "East leads, Central and West specialize" pattern. For example, Yongkang in Zhejiang is known as the "Hardware Capital of China," with wrench production accounting for more than 75% of the national total; Dongguan in Guangdong has the highest hardware tools industrial belt index in the country, with products covering power tools, molds, etc.
- Industry Chain and Product Structure: The industry chain is complete, covering raw material supply, manufacturing, sales, and end-user application. The product structure is mainly hand tools (accounting for 54.7%), but with technological advancement and consumption upgrades, the market share of power tools and smart tools is expected to increase.
Industry Development Trends
- Product Trends: Moving towards intelligence, wireless, and segmentation. For example, the global smart hand tools market size reached USD 22.4 billion in 2023, and is expected to reach USD 35.87 billion by 2032 at a CAGR of 5.37%; the global cordless power tools market value in 2024 was USD 27.39 billion, and is expected to reach USD 51.86 billion by 2031 at a CAGR of 9.16%. Meanwhile, segmented markets such as gardening tools are also growing, with the global gardening tools market value in 2024 at USD 93.2 billion, and expected to reach USD 161 billion by 2034 at a CAGR of 5.7%.
- Sales Model: Integration of online and offline channels, with the rise of e-commerce increasing the proportion of online purchases, but physical stores are still favored by consumers, especially professionals and DIY enthusiasts. In addition, brands focus on marketing through social media and independent websites, such as YesWelder and STANLEY enhancing brand influence through multi-channel marketing.
Opportunities and Challenges for Going Global
- Opportunities:
- Global market demand is growing, with accelerated industrialization in regions such as Southeast Asia, the Middle East, and Africa. In 2024, the import demand for power tools in Southeast Asia grew by more than 15%; the "stay-at-home economy" in Europe and America continues, and online sales of household hardware tools have surged.
- China's hardware tools industry has cost advantages and has made progress in technological innovation and industrial upgrading, with some companies able to produce high-end products.
- Policy support, such as the Belt and Road Initiative and RCEP, brings benefits like tariff reductions. For example, Indonesia's import tax on hardware tools has dropped to 0 - 5%, and the China-Europe Railway Express has reduced logistics costs.
- Challenges:
- Fierce competition in the international market, with monopolies by international giants, and facing trade frictions and policy risks, such as the US imposing additional tariffs on some Chinese hardware products.
- Exchange rate fluctuations, rising costs of raw materials and labor affect corporate cost control. The international market recognition and loyalty of Chinese hardware tool brands still lag behind well-known international brands.
