Machine Shop Services in Illinois
Over the five years to 2017, Machine Shop Services industry revenue has been increasing. Revenue growth during the period has largely been a result of increasing demand from downstream markets. Primarily, growth in nonresidential construction in Illinois has driven demand for industry services. Construction operations frequently use products manufactured with machined inputs, or use machined products as building materials. Manufacturing is also a key downstream industry for machine shops, as manufacturers frequently contract machine shops to produce inputs. Over the five years to 2022, revenue growth is expected to continue to be supported by growth in construction activity, specifically, nonresidential construction. While the value of nonresidential construction in Illinois is forecast to undergo strong growth, the rate of growth is anticipated to slow as interest rates increase.
The Machine Shop Services industry in Illinois 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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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