Overview

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

IBISWorld’s Cutting Tool & Machine Tool Accessory Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

REPORT SNAPSHOT

Market Share of Companies
There are no companies with a dominant market share in this industry
Industry Statistics & Market Size
Revenue
$6bn
Annual Growth
11-16
1.5%
Annual Growth
16-21
Profit
Employment
30,459
Business
1,425

Industry Threats & Opportunities

  • The US dollar has been growing stronger since 2012, which has led to high levels of import penetration
  • Import growth has been aided by the recent appreciation of the US dollar
  • Imported accessories are likely to become even more competitive over the coming years

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    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 2016, 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...

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    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 stagnate, with growth at an annualized 0.0% over the 10 years to 2021, much slower than the US GDP's forecast growth over the period at 2.1% per year on average.

    Other aspects of the industry reflect maturity, including slow participation growth and lack of product innovation. The..

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    Additional Insights for the Cutting Tool & Machine Tool Accessory Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Cutting Tool & Machine Tool Accessory Manufacturing Industry are

  • Using advanced technologies
  • Location
  • Product knowledge
  • IBISWorld analysts also discuss how external factors such as Industrial production index and Corporate profit in the Cutting Tool & Machine Tool Accessory Manufacturing industry impact industry performance..

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    Industry Products

    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 accessories
    Machine tool accessories
    Miscellaneous receipts
    Industry Activities
    Manufacturing cutting tool accessories
    Manufacturing machine tool accessories
    Performing miscellaneous contract, repair and resale work

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Industrial production index
  • Corporate profit
  • Trade-weighted index
  • World price of steel
  • Price of nonferrous metals

  • Current Performance
    Functionality and key marketsInternational tradeParticipation and profit
  • Chart: Revenue Growth

  • Industry Outlook
    Rising import penetrationFewer opportunities for growthIndustry landscape
  • Table: Cutting Tool & Machine Tool Accessory Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Cutting Tool & Machine Tool Accessory Manufacturing Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Manufacturing

  • Key Selling Industries
  • Aluminum Manufacturing
  • Ball Bearing Manufacturing
  • Electrical Equipment Manufacturing
  • Iron & Steel Manufacturing
  • Nonferrous Metal Rolling & Alloying
  • Screw, Nut & Bolt Manufacturing
  • Structural Metal Product Manufacturing

  • Products & Services
  • Cutting tool accessories
  • Miscellaneous receipts
  • Machine tool accessories
  • Chart: Cutting Tool & Machine Tool Accessory Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
  • Domestic demand
  • Global demand

  • Major Markets
  • Machine shops
  • Automotive manufacturers
  • Other
  • Exports
  • Chart: Major Market Segmentation for the Cutting Tool & Machine Tool Accessory Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Cutting Tool & Machine Tool Accessory Manufacturing

  • Basis of Competition
  • Performance
  • Price
  • Geography
  • Related services

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Cutting Tool & Machine Tool Accessory Manufacturing Industry

  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Cutting Tool & Machine Tool Accessory Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Cutting Tool & Machine Tool Accessory Manufacturing Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Exports (2007-2021)
  • Imports (2007-2021)
  • Wages (2007-2021)
  • Trade-weighted index (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Channeling
  • The placement of grooves, angles and other edge surfaces on a cutting bit, drill or bore.
  • Hobs
  • Specialized bits designed for cutting teeth and grooves into gears.
  • Titanium
  • A very hard metallic element used in the production of many cutting tools.
  • Trade-Weighted Index
  • Measures the strength of the US dollar relative to the currencies of its trading partners.
  • Why buy this report?

    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 Cutting Tool & Machine Tool Accessory Manufacturing:
    • 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 Cutting Tool & Machine Tool Accessory Manufacturing 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 Cutting Tool & Machine Tool Accessory Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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