Industry Analysis & Industry Trends
The Cutting Tool and Machine Tool Accessory Manufacturing industry's products, which include small knives and drill bits, are attached onto the cutting and machine tools used in the metalworking process. Consequently, they are demanded by machine shops, automotive producers and other manufacturers including those in the construction and mining sectors. In the five years to 2015, stronger production in those sectors has pushed up demand for cutting tool accessories and spurred industry growth. In the coming years, despite strong industrial activity and growing demand for cutting tool and machine tool accessories, less of this demand will be directed at US manufactured products.... purchase to read more
Industry Report - Industry Locations Chapter
The distribution of industry establishments is based largely off the location of raw materials, downstream users and export markets. Companies tend to operate near sources of key inputs (i.e. steel) and downstream markets to reduce transportation costs. As a result, cutting tool and machine tool accessory manufacturers tend to be located in highly industrialized areas. The Great Lakes (43.3%), the Mid-Atlantic (12.5%) and the Southeast (10.9%) regions exhibit the highest concentration of industry establishments.
The Great Lakes is home to the highest concentration of industry establishments due to its proximity to major downstream users, such as automobile manufacturers and its access to ports... purchase to read more