Industry Analysis & Industry Trends
The Cutting Tool and Machine Tool Accessory Manufacturing industry experienced adverse effects from the economic downturn. During the recession, negative economic conditions reduced demand for machined parts at tool and die businesses and demand for custom work fell. As the economy improves, downstream demand will likely rise, spurring marginal revenue growth. Nevertheless, stagnant product innovation will hamper overall growth.
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Industry Report - Industry SWOT Analysis Chapter
IBISWorld analysis indicates that the Cutting Tool and Machine Tool Accessory Manufacturing industry is in a decline phase of its life cycle. This situation has been a long time in the making. First, industry value added (IVA) has fallen behind overall US GDP growth, with the former forecast to decline at an annualized rate of 1.5%, while the latter is forecast to grow 2.1% during the 10 years to 2018. Declining IVA represents reduced investment in capital equipment through falling depreciation costs, fewer wages being paid out to employees and less profit occurring on an industry-wide level... purchase to read more