Market demand analysis of China's architectural hardware lock industry

Like many of our necessities, our locks have a very large rigid demand. The rapid development of the lock industry is just like the sunrise industry. In recent years, China's hardware lock industry has grown steadily at an annual growth rate of 15%. Up to 180 billion yuan*** and above, exports reached more than 8 billion US dollars. It accounts for about one-third of China's total light industry exports and ranks in the top three in light industry export rankings.

It is understood that there are currently more than 1,400 lock-making enterprises registered in China, mainly SMEs, mostly individual and private companies, and basically all belong to labor-intensive industries. At least 95% of them are private enterprises. Private enterprises have become the main force in the development of China's hardware lock industry. China has become the world's largest producer and consumer of locks. And there are about 1,000 lock manufacturers with an annual sales of more than 5 million yuan. The profits mainly come from exports, and the industrial bases are concentrated in Guangdong, Zhejiang, and Shandong. Among them, Wenzhou, Zhejiang enjoys the reputation of “China's lock capital”, Xiaolan Town, Zhongshan City, Guangdong Province, known as the “South lock city”.

On the other hand, in the international hardware lock market, due to the rapid development of production technology and rising labor costs, developed countries in Europe and America will transfer common products to developing countries to produce only high value-added products, while China has a huge labor market. Naturally, it has become a major exporter of processing hardware in the hardware lock industry. In the foreseeable future, the export situation of lock products will only be better.

Large domestic demand for locks In the second half of 2009, China’s economy gradually emerged from the shadow of the financial crisis, and real estate and other industries took the lead in getting warmer. On the eve of New Year's Eve, house prices and trading volumes have experienced a period of almost crazy skyrocketing. The boom in the real estate industry has spurred the development of many industries, including the demand for most of the construction hardware products, and the lock industry is the first to suffer.