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Cutting Tool & Machine Tool Accessory Manufacturing in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Cutting Tool & Machine Tool Accessory Manufacturing Market Research Report | Industrial Machinery, Gas & Chemicals | Industrial Machinery Manufacturing | Mar 2015

Dull blade: A growing share of industry demand will be fulfilled by imports

IBISWorld’s Cutting Tool & Machine Tool Accessory Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 10-15
2.6%
Annual Growth 15-20
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Profit
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Employment
29,448
Businesses
1,320
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 SWOT Analysis Chapter

The Cutting Tool and Machine Tool Accessory Manufacturing industry is in the mature stage of its economic life cycle. Its contribution to the US economy is largely stable and in line with broader economic growth. Industry value added (IVA), which measures the industry's contribution to the US economy, is expected to increase an annualized 2.1% over the 10 years to 2020, similar to the US GDP's forecast growth over the period at 2.5% per year on average.

Other aspects of the industry reflect maturity, including slow participation growth and lack of product innovation. The number of establishments in the industry is expected to rise only slowly in the 10 years to 2020; this can be attributed to growing import penetration and the relocation of establishments to overseas locations... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Cutting Tool & Machine Tool Accessory Manufacturing Industry?

This industry manufactures accessories and attachments for cutting tools, such as small knives and drilling bits. It also manufactures accessories for machine tools such as mechanical clampers. Operators may also provide custom fabrication and repair work on a contract basis.

Industry Products
Cutting tool accessoriesMachine tool accessoriesMiscellaneous receipts
 
Industry Activities
Manufacturing cutting tool accessoriesManufacturing machine tool accessoriesPerforming miscellaneous contract, repair and resale work


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