More tools from China

90 per cent of the Chinese manufacturers of power hand tools hope to increase their exports next year. Around 60 per cent expect growth in excess of 20 per cent. These facts are contained in the latest Market Intelligence Report – Power Hand Tools, issued by Global Sources. The report portrays 102 tool manufacturers in the vital provinces of Fujian, Jiangsu, Shangdong and Zhejiang, analyses industry trends and deals with pricing, manufacturing processes and production capacity. According to data collected by Global Sources (www.globalsources.com), 82 per cent of the tool manufacturers surveyed intend to increase their production capacity over the coming twelve months; 45 per cent of these companies are planning increases of 20 to 50 per cent, and 18 per cent are even going for over 50 per cent. Power drills and fastening tools have the biggest growth potential. Between March 2003 and February 2004 this product category accounted for around half of the exports of power hand tools, which came to US $ 1.5 bn.