Metalworking Machinery Manufacturing in the US - Industry Market Research Report

Metalworking Machinery Manufacturing in the US - Industry Market Research Report

Metalworking Machinery Manufacturing in the US

The Metalworking Machinery Manufacturing industry produces power-operated tools and machine accessories for finishing or shaping metal parts. Manufacturers develop products used by motor vehicle parts manufacturers. The COVID-19 pandemic significantly hurt metalwork manufacturing, as business closures and supply chain disruptions took a toll on manufacturers. This slowdown came amid decreased industrial production, private investment in metalworking machinery, and demand for automobiles and parts manufacturers. Revenue declined at a CAGR of 1.5% to $37.2 billion over the past five years, with a decline of 5.4% in 2023 alone as profit stabilizes at 9.3%.

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.