Metalworking Machinery Manufacturing in the US
Over the five years to 2019, the performance of the Metalworking Machinery Manufacturing industry has been mixed, starting with decline before moving to growth. In 2014, the industry was rebounding as demand from automotive industries and the Construction sector grew strongly. However, volatility in steel prices in 2015 and 2016 led to revenue contractions that negatively affected overall growth for the five-year period. IBISWorld anticipates that moderate growth will continue over the five years to 2024. Later in the coming period, industry revenue is expected to level off as competition increases from emerging markets in Asia and the continued relocation of US production to overseas factories reduces the industry's potential revenue base.
Companies in this industry primarily manufacture power-operated tools that are used for finishing or shaping metal parts, which are then used to manufacture other machines. Industry products include wire drawing and fabricating machines, metal cutting tools, special dies and coil handling equipment. This industry excludes companies that primarily manufacture power tools and other general-purpose machinery accessories (see IBISWorld report 33399).
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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