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China's lock industry needs to take a high-end route to build a lock power
Nov 24, 2018

China's lock industry needs to take a high-end route to build a lock power

Zhang Dongli, chairman of the China Hardware Products Association, said that there are about 1,000 lock manufacturing enterprises with annual sales of more than 5 million yuan in China. These enterprises are mainly concentrated in Guangdong, Zhejiang and Shandong. Among them, Zhejiang Wenzhou also enjoys the reputation of “China Lock Capital”. It is understood that the top 10 enterprises in China's locks account for one-fifth of the total sales revenue, showing a high degree of market concentration.

Lock enterprises have a high degree of market concentration, which is a good sign for the long-term development of China's lock industry, and has a good impetus to the development of locks in China. After a certain scale of lock enterprises, they have the ability to develop high-end locks and take high-end market routes to avoid fierce competition in the low-end market.

At present, China's locks still lack well-known brands in the world. Domestic lock companies have also launched a series of high-end products. The pricing is much lower than that of similar foreign products. This is the advantage of China's lock enterprises. However, high-end products in China's domestic market are middle-end products in the world. Therefore, although China is a big country in the production of locks, it still needs to import some high-end products from abroad.