Cutting down: Improved downstream demand will benefit firms, but low innovation will limit growth
The Cutting Tool & Machine Tool Accessory Manufacturing market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.
Industry Statistics & Market Size
Annual Growth 08-13
Annual Growth 13-18
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 Analysis Chapter
The Cutting Tool and Machine Tool Accessory Manufacturing industry is a sub-segment of the larger Metalworking Machinery Manufacturing industry (IBISWorld report 33351). As in the larger industry, makers of cutting tools and related accessories produce goods that downstream industries use to make other metal parts, machines and original equipment. Cutting tools and accessories represent a fundamental need for almost every manufacturing industry that relies on metal as a key input. Despite the universal need for cutting tools in downstream manufacturing operations, revenue has declined at an annualized rate of 1.1% during the five years to 2013... purchase to read more
What is the Cutting Tool & Machine Tool Accessory Manufacturing Industry?
This industry primarily manufactures metal-cutting and metal-forming machine tools, accessories and attachments. Firms may also provide custom fabrication and repair work on a contract basis.
Small cutting toolsCutting tool attachments and accessoriesOther metal-cutting tools and partsMiscellaneous receipts
Manufacturing cutting tools for metalworking machineryManufacturing accessories for machine toolsPerforming miscellaneous contract, repair and resale work