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