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Global tool crocodile competes for domestic tool market
**Abstract**
Among the five major players in the cutting tool industry, each with its own unique style and specialization, the Sandvik Group stands out as a key player. It includes well-known brands such as Coromant, Walter, Seco, Vannet, Safety, and Dormer. The concept of the Efficiency Center was first introduced by Sandvik Coromant, aiming to provide tailored solutions for metal processing. Today, there are 27 efficiency centers spread across more than 20 countries worldwide, reflecting the group's global reach and commitment to innovation.
**Competition Among Diverse Players**
Although Sandvik is a leading force in the global cutting tool market, it faces strong competition from companies like Kennametal, Mitsubishi, and IMC. Recently, Jacob Harpaz, CEO of IMC, highlighted that his company is the second-largest manufacturer of metal-cutting tools globally, and he expressed a clear ambition to take the top spot in the industry. This shows how competitive the market has become, with multiple players vying for dominance.
While foreign brands have gained significant traction in the Chinese market, domestic companies have also made remarkable progress. Enterprises such as Zhuzhou Diamond, Xiamen Golden Heron, and Zheng Diamond have emerged as strong contenders, joining the original four major tool manufacturers. These companies have successfully transitioned from traditional tool production to modern manufacturing, and they are now experiencing rapid growth.
However, despite this progress, China still imports about one-third of its cutting tools, all of which are advanced and high-efficiency models. In contrast, only 10% to 15% of domestically produced tools are considered modern and efficient. This highlights a gap in the domestic industry, as multinational corporations continue to dominate the high-end segment, while local manufacturers work to catch up.
**Selling Tools Is Selling Services**
In the tool industry, customers don’t just buy a product—they seek a complete solution. Tool manufacturers must go beyond simply describing the performance of their products. They need to understand the materials their clients work with, analyze costs, and offer comprehensive system solutions that meet specific needs.
Currently, customers are demanding cost reductions, but their expectations for service quality are rising. A recent study by Jinmo Tool Network found that many companies are struggling, with performance declines of around 20%. As customer expectations grow, so do operational costs, making it increasingly challenging for firms to maintain profitability.
Tools are industrial consumer goods, and price plays a crucial role in competition. Companies cannot charge more than their competitors. To remain profitable, they must either scale up sales to reduce costs or focus on specialized services that add value.
Today, with the rise of new manufacturing sectors and growing demand for more efficient production methods, international tool manufacturers are reorganizing their teams. Companies like Coromant, Iscar, Kennametal, and Seco have created specialized groups focused on different industries, such as automotive, aerospace, medical, and energy. This shift reflects the evolving nature of the market and the need for tailored support.
According to Jiang Wende, General Manager of Seco Tools (Shanghai), the success of a tool brand is no longer judged solely by product quality or performance. Customers care about efficiency, cost reduction, and profit generation. To truly meet these demands, tool suppliers must not only deliver high-quality products but also provide exceptional service.