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 - Starting a New Business Chapter
IBISWorld analysis estimates that barriers to entry into the Cutting Tool and Machine Tool Accessory Manufacturing industry are low. The lack of major companies, low industry concentration and relatively light regulations compared with other manufacturing industries make entry into the cutting tool business fairly easy. Some entrants may find the high level of capital intensity a barrier, as industrial machines capable of producing cutting tools can be expensive. Similarly, while industry employees are not required to have a license to operate, a high level of metalworking specialization and skills are necessary. In some areas of this industry, technical knowledge is a medium barrier to entry... purchase to read more