Taiwan`s TiTE exhibition attracts 35 000 visitors
Taiwan International Tools Hardware Expo advised by the Bureau of Foreign Trade, the Ministry of Economic Affairs, organized by the Taiwan Hand Tool Manufacturers’ Association (THTMA), and with support from industry, government, and academia, the Taiwan International Tools Hardware Expo TiTE debuted in 2022 and was held in the middle part of Taiwan, where the Taiwan hardware and hand tools originated. The topic “TOOLS KINGDOM The Most Iconic Gathering of Hardware Tools in Asia” strengthened the important position of Taiwan’s hardware and tool industry in the global market and opened the door to the international export market after the pandemic.
The 2nd Taiwan International Tools Hardware Expo took place from 4 to 6 October 2023 at the Taichung International Exhibition Centre and attracted 35 000 visitors. “TiTE spurs Taiwan’s hardware and tools export performance, building a professional and international campaign and forming an innovative, top quality, and world class industry platform. With the cutting edge capability of the global supply chain, the event attracted more than 400 local and international exhibitors and became a procurement target for global buyers, ushering in a new era for the hardware and hand tool industry supply chain and leading the global market”, organizers THTMA state.
Exhibitors and visitors
TiTE covered 7 product categories and exhibition areas: Tools & Related Accessories; Fasteners and Fixings; Auto Repair Supplies and Car Accessories; Home Maintenance, Agriculture, Gardening and Outdoor; Building, Construction Hardware and Locks; Metal Processing Equipment, Testing Equipment and Industrial Safety; Industrial software and Digital Transformation. Among the exhibitors there were dealers/distributors, wholesalers/retailers, importers/exporters, platform and digital service providers/consultants, government agencies, trade associations and industry assistance organizations, etc.
Visitor profile covered hand tools, power tools and parts suppliers, tool brands, manufacturing and processing suppliers, the foreign procurement representatives in Taiwan, the Asia regional procurement representatives, hardware & tools importers, distributors and related manufacturers and factories, automobile and motorcycle repair parts manufacturers, bicycle parts and tools manufacturers, precision machinery manufacturers, biotech manufacturing companies, electronic device manufacturers, heavy machinery and other transportation tool manufacturers. The event was visited also by whole plant solution consultants, factory and industrial product designers, retailers, wholesalers and maintenance service providers of plumbing and electrical supplies/hardware tools, users of hardware and tools, DIY, outdoor tools.
The Taiwan hand tools market
Taiwan is the third largest exporter of hand tools in the world, the second largest exporter included OEM value. With its stable supply capability, Taiwan makes itself is a much-valued partner for the global supply chain. The output value of hand tools was NTD 122,5 billion while the export value reached NTD 110,39 billion in 2020. Claiming the world’s largest market share in high-end product lines with a total of 2367 hand tool manufacturers nationwide, Taiwan has played a leading role in hand tool manufacturing.
Due to its strong capabilities in hand tools manufacturing and a complete industry supply chain, Taiwan has been able to dominate the global marketplace, even during the COVID-19 pandemic. The total export value of hardware & hand tools from Taiwan reached USD 4,79 billion in 2021, a noticeable increase of over 27,4% compared to the previous year, breaking the historical value on the record.
In this period, exports to the United States increased by 26,9%, and exports to the European Union grew by 33,3%.
LATEST issue 4/2023