International buyers from 47 countries attended TiTE 2023

MachinesEvents • 05.12.2023

The Taiwan International Tools & Hardware Expo (TiTE) closed successfully on October 6, 2023. Despite disruption due to typhoon Koinu, more than 20 000 attendees, both on-site and online, from 47 countries engaged and purchased from the expo´s over 300 exhibitors. Both exhibitors and attendees praised the exhibition, with more than 100 companies stating they look forward to attending the spring 2024 exhibition to continue exploring global business opportunities.

Showcase of the resilience of Taiwan´s hand tool industry

As the world´s third-largest exporter of hand tools, Taiwan reported a record high export volume of USD 4,79 billion in 2021, a 27,4% increase from 2020, and ranked number one in global market share of mid- and high-end products. Experts from industry, government, academia, and the research sector came together at the expo in support of Taiwan´s efforts to establish the world´s first and only "hardware longitudinal valley". This year´s opening ceremony welcomed many prestigious leaders, including Senior Advisor to the President, Shen Jong-chin; Executive Yuan Minister without Portfolio Kung Ming-hsin; MOEA Industrial Development Administration Deputy Director General Chen, Pei-li; Legislator Ho Hsin-chun; Taichung City Deputy Mayor Wang Yu-min; Taiwan Industrial Fasteners Institute (TIFI) Chairman Tsai Tu-chin; Taiwan Machine Tool & Accessory Builders´ Association (TMBA) Chairman Patrick P. Chen; Taiwan Fastener Trading Association (TFTA) President Josh Chen; and Metal Industries Research & Development Centre (MIRDC) CEO Mr. Lai Yung-hsiang.

Chairman Jack Lai of the Taiwan Hand Tool Manufacturers´ Association (THTMA), the organizer of the event, stated that the expo helps showcase the cohesion, R&D capabilities, creativity, productivity, and resilience of Taiwan´s hand tool industry. Even in the face of widespread economic downturn, political uncertainty, inflation, and destocking, more than 300 companies still chose to take part the expo, defending Taiwan´s reputation as the kingdom of hand tools. Lai particularly noted a number of urgent orders from international buyers and negotiations for new product samples and annual orders. As global consensus seems to indicate economic recovery in the new year and an end of destocking trends, the expo offers a platform to explore significant business opportunities.

The Taiwan International Tools & Hardware Expo aims to be the leading professional hardware and tools exhibition in the Asia-Pacific region. This year, the exhibition attracted exhibitors from 12 overseas companies from eight countries, including the United States, Japan, and Germany; international buyers from 47 countries, including Germany, Japan, the United States, South Korea, India, Dubai, Indonesia, Australia, and Iran; and nearly 400 procurement representatives. In the face of a transforming global supply chain, THTMA Chairman Lai believes that Taiwan sits at the center of global sourcing and diversified production; therefore, the Taiwan expo should allow international companies and buyers to be able to match and find the best business opportunities available.


Countless business opportunities

With the recovery of the post-pandemic international market, the largest international professional exhibition of hand tools brought together many of the industries´ leading players to display their latest products, including leading global sheet metal processor, Bystronic International Laser Ltd.; Taiwan-based manufacturer of stainless steel composite screws, Sheh Kai Precision Co., Ltd.; auto repair equipment manufacturer Lihyann Industrial Co., Ltd.; leading producer of iron shears, Allprofessional MFG Co., Ltd.; smart socket manufacturer Re-dai Precision Tools Co., Ltd.; plier manufacturer Kuang Yuang Industrial Co., Ltd.; industrial adjustable wrench manufacturer Proxene Tools Co., Ltd.; digital torque wrench producer William Tools Co., Ltd.; screwdriver giant Yih Cheng Factory Co., Ltd.; manufacturer of patented wrenches, Infar Industrial Co., Ltd.; hammer giant Lucky-Brand Industrial Co., Ltd.; saw giant K&W Tools Co., Ltd.; digital wrench producer Stand Tools Enterprise Co., Ltd.; ratchet wrench hidden champion Hi-Five Products Developing Co., Ltd.; leading producer of pneumatic tools, Kuani Group; pneumatic nail gun manufacturer Everwin Pneumatic Corp.; hand tool brand Jonnesway; toolbox giant Machan International Co., Ltd.; garden tool cutter Wise Center Precision Appliance Co., Ltd.; and toolset producer A-Kraft Tools Manufacturing Co., Ltd. These players were supported by the exhibition´s One-Stop Procurement Services, accommodation subsidies for international buyers, and extensive industry coverage across international media. This allowed 371 international buyers and exhibitors to network on site. Moreover, as the exhibition was held in Taichung, participants could conveniently explore local industry and arrange factory visits for further cooperation and procurement. Lastly, the exhibition focused on key industry topics such as AI and carbon rights trading under the TiTE Conference; these focuses attracted a great number of participants and expanded potential business opportunities. In response, many exhibitors confirmed further participation in the exhibition.

For next year, the organizing team has already begun work to expand the number of available accommodation subsides for international buyers, optimize the One-Stop Procurement Services, and invite more international industry players to attend. Next year´s exhibition is anticipated to be held from October 16 to 18, 2024, and nearly 100 exhibitors have already completed advanced registration.