China Power Tool Market to Exceed RMB 35 Billion in 2018

The product range of China power tools extends from 40 types of speculations in 1965, to 200 and 300 types nowadays. China can be regarded as a world's power tool manufacturing nation in terms of its capacity.Statistics indicate that market capacity of China power tools is rapidly increasing by 25% annuallly. Askci Corporation reports that the market capacity will reach RMB 20.5 billion by 2012.

In the perspective of professional analysts, the power tool industry is trending towards rapid development in recent years. China power tool market, for instance, uses more localized power tools (around 90% of total sales) than imported ones (10%). Furthermore, China-made power tools are increasing market share in foreign markets. China, with its huge potential of developing industries, has already become the main exporting and manufacturing nation of power tools for the world.

Currently, most power tool maker in China focus on household DIY power tools and targets on price competition that is low-end and out of order. However, professional power tools far supass DIY power tools in techniques, application range, and added value (such as gross profit margin). Professional power tools have higher electric pwoer, higher rotation speed, longer tools life for repetitive works, higher techniques, higher profits, wider market range, higher industry standard, and higher product value.

In the next few years, China-made power tools will take more market shares with further expansion into the foreign nations, which will push the industry to a better prospect and brighter future. Askci Corporation predicts that China power tools market scale will exceed RMB 35 billion in 2018, and professional power tool market sacle will exceed RMB 10 billion.