National Hardware Show to kick off on April 5

The 2022 National Hardware Show (NHS) is slated to kick off from April 5 to 7 at the Las Vegas Convention Center, in tandem with two other large-scaled expos — Coverings and IDAExpo — as a partnership to offer more procurement, selling, and networking opportunities. NHS is widely regarded as the best gateway into the North American hardware and tools market, especially for Taiwanese suppliers.

In Q1 of 2021, Taiwan's government statistics indicate that 38.2% of hand tool exports were headed towards the U.S., signifying demand and a market with more lucrative opportunities to tap into. More importantly, that demand was consistent throughout the year.

According to Allied Market Research, the global hand tools market size was valued at $21,290.4 million in 2020, and was projected to reach USD$31,817.3 million by 2030, registering a CAGR of 4.2%.

Heading into 2022, there are not just concerns regarding potential demand, but also trends that will shape the industry in the coming decade. Increasing demand in the automotive maintenance and repair sector has propelled significant demand as automotive brands' production and delivery times are backlogged and disrupted. Other trends, such as the increasing need for electric vehicle maintenance and repair tools, will also challenge suppliers to adapt. Increasing usage of hand tools in industrial environments is driving market growth, but low-profit margins due to competition is can undermine market growth. The recovery in the construction industry and equipment manufacturing is expected to fuel demand as well, as with the growth in machinery and equipment manufacturing sectors too.