Another hidden champion in Germany, with a small "fastener", annual revenue of 112.8 billion

Another hidden champion in Germany, with a small "fastener", annual revenue of 112.8 billion

Update:11-02-2020
Summary:

According to a report released by the American market r […]

According to a report released by the American market research company Grand View Research, the global industrial fastener market demand will reach 104 billion U.S. dollars in 2020, equivalent to about 727.9 billion yuan.

It can be seen that there is a huge market for small fasteners. In this huge market, there are many unremarkable but powerful companies, such as Hardlock Industries, a Japanese manufacturer of "Never Loose Screws", and German Würth, which stands at the top of the industry.

According to data, W RTH was founded in 1945 and has a history of 75 years. It is now the world's leading assembly and fastener company. Mainly provide more than 125,000 kinds of products for the market, covering the fields of screws, accessories, bolts, tools, chemicals and labor protection products. Currently, the group has more than 400 companies distributed in more than 80 countries and more than 78,500 employees worldwide. According to the latest data for 2020, the group's sales last year were 14.27 billion euros, equivalent to approximately 112.8 billion yuan. Compared with German industrial giants such as Bosch and Siemens, Würth has little public awareness, but with its position as the world's largest fastener market and its annual revenue of hundreds of billions, it is nothing to say that it is the "hidden champion". Over.

In the development of Würth, Professor Ryan Würth played a very important role. In the 1950s, when he was only 19 years old, he took over the company's business from his father. The company at this time is far from the future style, not only has only a few employees, but also poor management, and can barely survive. Then why did Wurt develop rapidly after Ryan took office, until he became a global giant? There are two main reasons.

First, Germany after the Second World War relied on its strong industrial heritage, and the entire market took off rapidly. The dividends brought about by the rapid development of the national economy have benefited many companies. Obviously, Würth is also a company that has received dividends.

Second, Ryan had worked in a screw factory before taking office and had a deep understanding and rich experience in the entire industry. He believes that screws and assembly equipment should not be regarded as simple products, but should be in-depth research and development, through technological innovation to create more high-quality products.

In the process of technological innovation, the company has gradually accumulated a large number of patents, successfully established industry barriers, and laid a solid foundation for future development and growth. As the business grew bigger and bigger, in order to seek further development, Würth naturally embarked on the road of globalization. In fact, the top companies in Germany are all transnational in nature, and only globalization can grow into industry giants. If it can only be "in the nest", the development prospects are extremely limited.

In the process of globalization, Würth entered the Chinese market 26 years ago, which is neither too early nor too late. When operating in China, in addition to focusing on product quality, the company also built a supply chain center in Greater China in order to better serve customers. Backed by the supply chain center, the company's logistics channels are more modernized and costs are greatly reduced, which also makes its products more competitive in the market. Under this series of measures, Würth quickly developed in China. At present, the company has formed two major business departments in China, namely, the Industrial System Department that provides connection and fastening products, and the "Automotive, Assembly Technology, Construction Department, which serves the automotive aftermarket, equipment and facility maintenance, and construction. ".

It can be seen that many German companies are extremely competitive globally, such as Volkswagen, Siemens, Bosch, Zeiss and Würth. The reason behind it is nothing more than a huge talent team, strong technical research and development capabilities, and excellent product quality. All these can give us very good enlightenment, a manufacturing company wants to develop. First of all, technological innovation is essential. Secondly, after having the technology, there is a spirit of craftsmanship, which has been emphasized in our country in recent years.

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