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Global tool crocodile competes for domestic tool market
The **Abstract** highlights the diverse landscape of the global tool industry, where five major factions compete across different styles and genres. Among them, the Sandvik Group stands out with its subsidiaries such as Coromant, Walter, Seco, Vannet, Safety, and Dormer. The concept of the **Efficiency Center** was first introduced by Sandvik Coromant in the field of metal processing, aiming to optimize productivity and reduce costs. Today, there are 27 efficiency centers spread across more than 20 countries worldwide, offering localized support and technical expertise.
While Sandvik is a leading player in the global tool market, other strong competitors like Kenner, Mitsubishi, and IMC also hold significant influence. Recently, IMC CEO Jacob Harpaz emphasized the company’s ambition during the opening ceremony of Teguque’s second plant: “IMC Group is the second-largest tool manufacturer in metal cutting globally, and we aim to be number one in many fields.†His words reflect the intense competition and the drive for leadership in the industry.
Although foreign brands have dominated the Chinese market for years, domestic companies have made remarkable progress. Enterprises like Zhuzhou Diamond, Xiamen Golden Heron, and Zheng Diamond have emerged as key players, joining the original four major tool factories. These companies have successfully transitioned from traditional tools to modern tool manufacturing, showing steady growth and entering a phase of rapid development.
However, China still imports about one-third of its tools annually, and all of these imported tools are modern and efficient. In contrast, only 10%-15% of domestically produced tools can be considered high-efficiency. This gap shows that while China has become one of the most promising markets for tools, the high-end segment remains largely controlled by multinational corporations, indicating that the domestic industry still has a long way to go.
**Selling Tools Is Selling Services**
In the tool industry, customers don’t just buy a product—they seek a complete solution. They require not only the tool itself but also optimized cutting performance tailored to their specific needs. Therefore, tool manufacturers must go beyond simply describing product specifications. They need to understand the materials being processed, analyze production costs, and offer integrated solutions that enhance efficiency and reduce expenses.
Currently, customers are pushing for annual cost reductions, and their service expectations are constantly rising. According to research by Jinmo Tool Network, this year's market conditions have been challenging, with a 20% decline in company performance. As customer expectations grow, so do operational costs, making it increasingly difficult for companies to maintain profitability.
Tools are industrial consumer goods, and price plays a crucial role in market competition. Prices cannot exceed those of similar products. To remain competitive, companies not only rely on large-scale sales to reduce costs but also focus on niche markets where they can deliver specialized services and achieve better profit margins.
With the rise of new manufacturing industries and increasing demand for more efficient production processes, international tool manufacturers are now organizing their technical teams into specialized groups. Companies like Coromant, Iskar, Kenner, and Seco have established dedicated teams for sectors such as the mold industry, automotive, aerospace, MTB, renewable energy, and medical. These divisions allow them to provide targeted solutions and stay ahead in an evolving market.
Jiang Wende, General Manager of Seco Tools (Shanghai), emphasizes that the success of a tool brand can no longer be judged solely by product quality or machining performance. Users now prioritize efficiency, cost reduction, and profitability. To meet these demands, tool suppliers must not only offer high-quality products but also deliver exceptional service that adds real value to their customers’ operations.