Development prospects of spring products

Strong demand in the daily hardware market

The daily necessities and hardware industries, including lighters, toys, locks, door hinges, fitness equipment, mattresses, sofas, and so on, have a large demand for springs in terms of quantity, with billions of pieces, low technical requirements, and very low prices. They are generally produced by small spring factories scattered throughout the country, which have unique cost advantages, making it difficult for large spring factories to compete with them. In recent years, there has been a strong demand for daily hardware products in the domestic market, which has driven the growth of supporting springs and occasionally led to the birth of new spring enterprises. In the future, market demand will grow at a rate of 7% to 10% annually. After China's accession to the WTO, the export volume of daily hardware products has significantly increased, and the demand for springs has also been driven. However, due to the influence of international market demand and trade barriers, the international market has its uncertain side.

The instrument and electrical market is beginning to recover

Typical products of instrument and electronic appliance springs include brush springs, switch springs, camera springs, computer keyboard springs, and instrument accessory springs. There are many types of springs, including leaf springs and guide springs, and different product materials and technical requirements vary greatly. In the past few years, the domestic instrument and electronic appliance industry has been impacted by imported products, resulting in a general downturn. The spring manufacturers that support it have been dragged down, and Z has shown signs of improvement and recovery.

The industrial and mining product market is undergoing adjustment

The market for industrial and mining products covers other industrial sectors except for the transportation industry, from spinning machine rocking frame springs to chemical springs, power station switches and support hanger springs, bulldozer springs, and so on. The material, technical requirements, and process of the products vary greatly, and the demand for springs is directly proportional to the market's demand for production materials and infrastructure project scale. In recent years, due to the influence of industrial structure, this market has been in a hovering state, and Z has recently rebounded, but it has not yet escaped the trend of adjustment.

Huge potential in overseas markets

According to customs statistics, China has exported approximately 22000 tons of springs annually in the past two years, with the majority being steel plate springs and only a small portion being coil springs. The product structure mainly consists of daily hardware springs, with destinations in Hong Kong and Taiwan. Mold springs and automotive accessory springs have been exported in small quantities to markets in Japan, Europe, America, and Southeast Asia, but have not truly entered OEM support. In recent years, some American automotive companies have shifted their procurement of automotive components, including springs, to China in order to reduce procurement costs, setting a precedent for Chinese springs entering the US OEM supporting market. With the establishment of China's position as a major manufacturing country and the improvement of technology and product quality in the spring industry, the prospects for the spring export market are broad. It is expected that by 2005, the proportion of exported spring products in the industry's output value will reach about 5%, and the export value will increase to 70 million US dollars.

According to statistical data, the export of spring products from industrialized countries accounts for approximately 15% to 20% of the industry's output value. From a long-term perspective, there is a great potential market for China's spring exports. Chinese spring enterprises should take specific actions based on their own situation, such as strengthening cooperation with foreign enterprises, introducing advanced foreign technologies, improving product quality, enhancing competitiveness, creating well-known brands, expanding the international influence of products, and seizing a larger international market share.