Cutting Tool & Machine Tool Accessory Manufacturing in the US - Industry Market Research Report

Cutting Tool & Machine Tool Accessory Manufacturing in the US - Industry Market Research Report

Cutting Tool & Machine Tool Accessory Manufacturing in the US

Volatile returns for cutting tool and machine tool accessory manufacturers are in part due to difficult operating conditions caused by supply chain disruptions and poor macroeconomic conditions associated with COVID-19. These have all challenged the industry's growth during the period. Moreover, these declines were amplified by the industry's dependence on industrial markets, such as manufacturing, oil and gas. Industry-wide revenue fell at a CAGR of 0.6% to $6.5 billion over the past five years, including a 1.5% decrease in 2023.

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.

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.