Taiwan Hand Tools Shine Globally: CENS Facilitates Trade Networks

In 2022, the global hand tools market surpassed US$125.5 billion, with over 50% of the market share concentrated in Europe and the United States. Additionally, the Market Research Firm IMARC Group predicts that by 2028, it will reach $32.1 billion, exhibiting a compound annual growth rate (CAGR) of 4.2% between 2023 and 2028. Turning to Taiwan, the hand tool industry recorded an output value of NT$24 billion in the second quarter of 2023, marking a 4.7% increase from the preceding quarter. In terms of exports, Taiwan's hand tools achieved an export value of NT$18.2 billion during this quarter, reflecting a 6.8% increase from the previous quarter, securing its position as the world's third-largest hand tool exporter.

The ongoing expansion of the global hand tools market is primarily anchored in the escalating demand for construction and repair & maintenance services spurred by the rapid urbanization of emerging nations. Concurrently, specific developmental policies, including the emphasis on infrastructure projects like roads, airports, and energy utilities, further fuel this growth trajectory. This surge in demand is not limited to construction alone; there's a heightened need for portable and lightweight equipment, particularly in the automotive maintenance sector, amplifying the utility of various hand tools in the industry. Moreover, the DIY trend, which gained momentum during the mandatory quarantine of the COVID-19 pandemic, remains a noteworthy contributor to the sustained market growth.

To meet the growing demand and capitalize on business opportunities for both top-notch suppliers and buyers, Economic Daily News/CENS is proactively engaging in a range of hardware and hand tools exhibitions in 2023. The initiative involves disseminating the exclusive show express and professional trade magazine, coupled with providing complimentary matchmaking services. This concerted effort aims to expedite the alignment of business opportunities between discerning buyers and high-quality suppliers.

Jan. 31-Feb. 2, 2023: National Hardware Show (NHS 2023)

As the largest and most established hardware exhibition in North America, the National Hardware Show (NHS) remains a pivotal event for numerous high-profile hardware and hand tools manufacturers. Concluding on February 2, 2023, this year's show achieved noteworthy outcomes, with 48% of visitors placing orders across various categories. Also, the event boasted the participation of over 1,000 exhibitors, of which an impressive 60% were new additions to the exhibition.

Taiwan's hardware and hand tool products have consistently held an edge in innovation and patents, earning recognition from international buyers for their high quality and cost-effectiveness at exhibitions. Notably, the U.S. stands as the largest export destination for hand tools and hardware from Taiwan, with several leading U.S. companies being regular participants in the show. This positioning renders the National Hardware Show (NHS) the prime opportunity for Taiwanese manufacturers to enhance their international sales and engage in valuable information exchange within the industry.

Given this significant opportunity, Economic Daily News/CENS is poised not to let it slip away. The esteemed Taiwanese export media agency has established a booth (SL10178) at the venue. Beyond providing sourcing services to exhibitors, CENS is actively introducing buyers to the CENS.com online platform and the recently launched NHS theme page. This combined effort aims to furnish the latest information on hardware and tool products from Taiwan, ensuring attendees stay well-informed and connected.

Sep. 19-Sep. 21, 2023: China International Hardware Show (CIHS 2023)

As the second-largest international exhibition globally and the largest in Asia, the China International Hardware Show (CIHS) has adeptly embraced contemporary trends, amassing profound professionalism and influence.

Concluding on September 21, 2023, in Shanghai, China, CIHS 2023 saw an impressive assembly of 2,623 exhibitors from 27 countries and regions. This diverse gathering showcased tens of thousands of brands and products, spanning tools, locks, work safety and accessories, processing equipment, DIY and building hardware, garden tools, bathroom equipment, and more. The exhibition provided a platform for exhibitors to display their products, engage in meaningful exchanges, and network to capitalize on lucrative business opportunities.

Over the three-day period, the fair warmly welcomed 68,405 visits from 97 countries and regions worldwide, with international trade buyers constituting 7.7 percent of the attendees.

Oct. 4-Oct. 6, 2023: Taiwan International Tools & Hardware Expo (TiTE 2023)

Conducted by the Taiwan Hand Tool Manufacturers Association and co-organized by more than 20 industry associations, the Taiwan International Tools & Hardware Expo (TiTE 2023) commenced from October 16th to 18th. With an impressive turnout of over 300 suppliers catering to an estimated audience of over 30,000 visitors, the event proudly claims the title of the largest professional hardware exhibition post-pandemic.

TiTE 2023 unfolded at the Taichung International Exhibition Center, boasting an expansive exhibition area of 6,500 square meters, marking a substantial 1.4-fold increase compared to last year's edition. Positioned as the largest hardware and tools show in Taiwan, strategically located in the Taichung, Changhua, and Taoyuan Industrial Complex, therefore serves as a convenient one-stop destination for international buyers. This setup facilitates streamlined business trips, encompassing exhibition visits, factory tours, and order negotiations. The seamless integration of these elements is eagerly anticipated and highly valued by both exhibitors and buyers alike.

Oct. 18-Oct. 20, 2023: Taiwan Hardware Show (THS 2023)

Starting on 10/18, 2023, the 22nd Edition of the Taiwan Hardware Show (THS) unfolded at Taipei Nangang Exhibition Center Hall 2. The chosen theme, "Bridging Borders, Empowering Supply Chains in Taiwan," was thoughtfully selected to underscore Taiwan's pivotal position as the primary production and supply hub in North Asia and around the globe. With a keen focus on a global clientele, this trade exhibition is poised to establish itself as a transformative platform for the global hardware, metal technology, and safety equipment industries.

Spanning an expansive 10,000 square meters, THS 2023 attracted over 63 international buyers to Taiwan, establishing a novel trading platform for the global hardware, metal technology, and safety equipment industries to engage with buyers. Moreover, it featured the participation of over 20 leading manufacturers and startups, alongside influential industry associations like the Taiwan Association of Machinery Industry (TAMI), Taiwan Electrical and Electronic Manufacturers' Association (TEEMA), Taiwan Metal Industry Association, Metal Industries Research and Development Centre, Industrial Technology Research Institute (ITRI), and other technology-related associations, all showcased their latest and diverse product technologies.

Taiwan consistently leads the way in innovation, setting new benchmarks for excellence within its targeted exhibit profile. While fast-moving DIY hardware and readily available off-the-shelf hand tools are easily procured at retail outlets, companies showcased at THS are driving the industry's next-generation manufacturing trend. They offer scaled-up solutions in professional hardware technology, highly sought after by skilled professionals in sectors such as shipbuilding, marine engineering, aerospace, and fabrication for heavy industries manufacturing, as well as other smart machinery-driven fields. This progressive effort not only propels Taiwan's hardware producers to enhance manufacturing in various industries but also expands THS's niche showcase. This includes power or hand tools, building supplies, machine and plant equipment, automotive supplies, and other hardware-related parts, fasteners, fittings, or accessories.

Mar. 3-Mar. 6, 2024: EISENWARENMESSE – INTERNATIONAL HARDWARE FAIR 2024

Scheduled for March 3 to 6, 2024, the Eisenwarenmesse-International Hardware Fair, recognized as the world's largest trade fair for hardware and hand tools, will take place in Cologne, Germany. Anticipated to span six exhibition halls, covering an extensive total exhibition area of 165,000 square meters, the event has garnered commitments from major companies hailing from Germany and 45 countries globally. This widespread participation underscores the industry's significant regard for this biannual gathering.

In its last edition in 2022, the show witnessed an active participation of 1,400 exhibitors hailing from 50 countries. Notably, 97 Taiwan companies joined the exhibition, marking the second-largest representation in Asia. Drawing in 25,000 buyers from 125 countries, over 70% of whom hailed from nations outside Germany, the event has solidified its position as the industry's trend compass in the hardware and DIY sector. Recognized as the premier business platform facilitating communication between manufacturers and global buyers, it is also hailed by international buyers as an essential international hardware exhibition. For suppliers in global hardware, tools, fasteners, and DIY products, it stands out as the most effective venue for expanding international business opportunities. Having faced cancellations in the past two editions due to pandemic outbreaks, anticipation is high for the return of both buyers and exhibitors from the previous edition to Cologne, eager to rekindle and sustain their business relationships with Germany.

As a longstanding media partner of the show, Economic Daily News/CENS will actively participate in the upcoming event. During the event, CENS will establish a booth (A-003) to offer buyers the latest hardware show express, facilitating a swift update on news related to Taiwan hardware manufacturers, industry trends, and pertinent industry news.