|Last Quarterly Update:||1/16/2017|
|SIC Codes:||3541, 3542, 3544, 3545|
|Industry Overview||Trends & Challenges||Industry Forecast|
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|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry manufacture metalworking machinery, including molds, dies, cutting tools, and machining centers. Major companies include Hardinge, Hurco, Kennametal, and MAG Giddings & Lewis (all based in the US), along with Amada (Japan), DMG Mori Seiki (Germany), and Shenyang Machine Tool (China).
The global machine tool manufacturing industry, a key component of the metalworking machinery manufacturing industry, generates about $75 billion in annual revenue, according to Gardner Research. Top machine tool producing countries include China, Germany, Japan, South Korea, Italy, and the US. The leading exporters of machine tools are Germany, Japan, Italy, and Taiwan.
The US metalworking machinery industry consists of about 6,500 companies with combined annual revenue of about $30 billion. Key growth drivers include new technology and increasing industrialization in emerging markets.
Demand is closely linked to US industrial activity. The profitability of individual companies depends on the complexity of their product designs and their manufacturing efficiency. Large companies have the resources to make complex, automated machinery. Small companies can compete successfully by making specialty products, replacement parts, or accessories. The US industry is fragmented: the largest 50 US companies generate about 30% of revenue.
International trade in metalworking machinery is substantial because of the high value of the products, mainly for machining centers and cutting tools. Many US manufacturers have foreign sales operations, and some have foreign manufacturing sources. Imports, largely from Japan, Germany, China, and ...
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