Current status of the spring industry: exports to overseas markets may be weakened

China’s spring industry currently has more than 700 large-scale spring production enterprises, and 10 professional spring research institutes have been established. The entire spring industry employs more than 80,000 people. There are 21 major categories of products produced in the spring industry, with more than 1,600 varieties, and an annual output of about 4 billion pieces.
For the spring industry, there has been a passive situation of oversupply of low-grade ordinary springs and high-end products in short supply for a long time. Driven by key investment in the development of agricultural machinery, construction machinery, general machinery, environmental protection machinery, automobiles and other host industries, the output of springs will increase. The most important thing is that the structure of spring products will change, the proportion of high-tech products will greatly increase, and the number of export products will also increase to a certain extent. It can be seen that in the next few years, my country’s spring market will maintain a relatively ideal growth space.

Automobile industry: The automobile and engine industry is the largest market in the spring industry, accounting for 50% of the industry’s total industrial output value. The automobile industry, especially the car industry, is growing rapidly. The trend of cars entering the family is increasing year by year, and the demand for high-end springs is increasing. With the increase of global environmental awareness, the development and putting into use of environmentally friendly vehicles also kicked off the curtain. In addition, the country’s increased investment in infrastructure construction will inevitably drive the development of trucks and provide a market for springs.

Spring exports to overseas markets may be weakened

According to customs statistics, in the past two years, China exports about 22,000 tons of springs each year. Most of them are leaf springs, and coil springs only account for a small part of them. The product structure is dominated by household hardware springs, and the destination is Hong Kong and Taiwan. A small amount of mold springs and auto parts springs are exported to Japan, Europe, America, and Southeast Asia, but they have not really entered OEM supporting facilities. In recent years, in order to reduce procurement costs, some American automobile companies have shifted the procurement of auto parts including springs to China, setting a precedent for Chinese springs to enter the US OEM supporting market. With the establishment of China’s status as a major manufacturing country and the improvement of technology and product quality in the spring industry, the spring export market has a bright future. It is estimated that by 2005, the proportion of export spring products in the industry output value will reach about 5%, and the export value will increase to 70 million US dollars.

According to statistics, the export of spring products in industrialized countries accounts for about 15% to 20% of the industry’s output value. From a long-term perspective, there is a large potential market for my country’s spring exports. Chinese spring companies should take specific actions based on their own conditions, such as strengthening cooperation with foreign companies and introducing advanced foreign technology to improve product quality, enhance competitiveness, create well-known brands, expand the international influence of products, and seize a larger international market Share.

The impact of Simmons’ bankruptcy on spring companies is absolutely profound, and it is also a wake-up call for those hardware companies that manufacture springs. It will take time to verify whether Simmons will come back to life. let us wait and see.