Dull spark: Industry demand declined as low steel and oil prices weighed on manufacturing

The Machine Shop Services industry in Florida fabricates raw materials to be used by customers in their respective industries. Over the five years to 2017, industry revenue is expected to decline. The industry in Florida is expected to have a higher reliance on the medical sector than the national industry. As medical manufacturing activity slowed over the period, this acted as a drag on industry performance. Additionally, low prices in steel and oil markets had a negative effect on revenue. Medical and dental markets are expected to account for the majority of revenue for industry operators...read more.

Industry Statistics & Market Size
Revenue
$638m
Annual Growth 12-17
-0.1%
Forecast Growth 17-22
Profit
Employment
4,606
Businesses
485
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Industry Threats & Opportunities

  • Medical equipment demand is forecast to increase as the population ages and manufacturers seek the newest technology
  • Overall industry performance has been affected by the downturn in commodity prices
  • Medical device manufacturing is expected to experience steady growth
  • Industry Report - Industry Products Chapter

    Machinists provide key inputs for many manufacturers. On the whole, machining has lower set-up costs than forging and casting because most computer numerical control (CNC) machines are less expensive than full-scale molds and presses. However, CNC machines are more time consuming to use. Capital investment requirements can escalate for machinery capable of processing high volumes with greater automation or for machines that can cut with greater precision or along more axes. Machining services, such as milling and turning, are often used where tight tolerances for product dimensions are required. Machining can produce shapes that forging cannot, such as acute angles or threads...purchase to read more.

    Additional Insights for the Machine Shop Services in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Machine Shop Services in Florida Industry are

  • Ability to quickly adopt new technology
  • Effective quality control
  • Access to multiskilled and flexible workforce
  • IBISWorld analysts also discuss how external factors such as Manufacturing GDP for Florida and Number of businesses in Florida in the Machine Shop Services in Florida industry impact industry performance..

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    What is the Machine Shop Services in Florida Industry?

    The Machine Shop Services industry cuts raw materials into specified shapes and sizes using a variety of tools, such as lathes, milling machines, grinders and drill presses. Almost all forms of metal product fabrication involve machining, and industry operators may also machine plastic and composite materials.

    Industry Products
  • Milling, grinding, turning, and drilling
  • CAD/CAM, EDM and laser machining
  • High speed, micro, titanium and robotics machining
  • Industry Activities
  • Turning services to produce cylindrical components
  • Drilling and boring services
  • Manual and computer numerical control (CNC) milling services
  • Sawing services
  • Broaching services to enlarge existing holes
  • Fastening services using automatic screw machines
  • Grinding and planing services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Manufacturing GDP for Florida
  • Number of businesses in Florida
  • Trade-weighted index
  • Price of steel

  • Current Performance
  • Downstream manufacturers
  • Industry structure in Florida
  • Chart: Revenue Growth

  • Industry Outlook
  • Key markets for Florida operators
  • Industry structure
  • Table: Machine Shop Services in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Machine Shop Services in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Metal Stamping & Forging
  • Screw, Nut & Bolt Manufacturing
  • Tractors & Agricultural Machinery Manufacturing
  • Construction Machinery Manufacturing
  • Mining, Oil & Gas Machinery Manufacturing
  • Engine & Turbine Manufacturing
  • Wind Turbine Manufacturing
  • Power Tools & Other General Purpose Machinery Manufacturing
  • Aircraft, Engine & Parts Manufacturing
  • Tank & Armored Vehicle Manufacturing

  • Key Selling Industries
  • Aluminum Manufacturing
  • Copper Rolling, Drawing & Extruding
  • Ferrous Metal Foundry Products
  • Metal Pipe & Tube Manufacturing
  • Metal Stamping & Forging
  • Metalworking Machinery Manufacturing
  • Screw, Nut & Bolt Manufacturing
  • Tool & Hardware Wholesaling

  • Products & Services
  • Milling, grinding, turning, and drilling
  • CAD/CAM, EDM and laser machining
  • High speed, micro, titanium and robotics machining
  • Other
  • Chart: Machine Shop Services in Florida Industry Products and Services Segmentation

  • Major Markets
  • Medical and dental
  • Aerospace and aviation
  • Military and defense
  • Automotive and transportation
  • Construction and agriculture
  • Oil, gas and energy
  • Chart: Major Market Segmentation for the Machine Shop Services in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Machine Shop Services in Florida

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Machine Shop Services in Florida Industry

  • 3D Medical Manufacturing Inc.D & J Machinery Inc.H&S Swansons' Tool CompanyRonco GroupSouthern Manufacturing Technologies Inc.
  • Table: 3D Medical Manufacturing Inc. - financial performance
  • Table: D & J Machinery Inc. - financial performance
  • Table: H&S Swansons' Tool Company - financial performance
  • Table: Ronco Group - financial performance
  • Table: Southern Manufacturing Technologies Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Machine Shop Services in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Machine Shop Services in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of businesses in Florida (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Billet
  • A semi-finished piece of metal or other material shaped by machinists; this can also be called a workpiece.
  • Boring
  • The process where a predrilled hole is enlarged with a tool.
  • Cad/Cam
  • Computer-aided design/manufacturing is a process of specifying and machining products with a software tool.
  • Computer Numeric Control (Cnc)
  • The automation of machine tools operated by abstractly programmed commands encoded in a computer, as opposed to manually controlled via handwheels or levers, or mechanically automated via cams alone.
  • Electrical Discharge Machining (Edm)
  • A manufacturing process that involves making intricate cuts into metals that have already undergone tempering.
  • Electrochemical Machining (Ecm)
  • A manufacturing process that uses a form of electrolysis to remove metal from an object.
  • Industrial Production Index
  • An economic indicator that measures real production output including manufacturing, mining, and utilities.
  • Machine Shop
  • An establishment where machining takes place.
  • Milling
  • The process where a rotating cutting tool is used to carve or shape a stationary object.
  • Turning
  • An industry process that uses an edged cutting tool to remove material from a rotating object to create or improve the object's cylindrical shape.
  • Why buy this report?

    The Machine Shop Services in Florida industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Machine Shop Services in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Machine Shop Services in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Machine Shop Services in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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