First Research US Industry Profile

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Metalworking Machinery Manufacturing
SIC Codes: 3541, 3542, 3544, 3545
NAICS Codes: 3335
Last Quarterly Update: 6/20/2022
Companies in this industry manufacture metalworking machinery, including molds, dies, cutting tools, and machining centers. Major companies include Hardinge, Hurco, and Kennametal (all based in the US), along with Amada and DMG Mori (both located in Japan), Fives (France), Shenyang Machine Tool (China), and TRUMPF (Germany).
The worldwide market for machine tools was at about $80 billion in 2020 and is expected to reach about $105 billion by 2027, according to Grandview Research. Top machine tool producing and exporting countries include China Germany, Japan, Italy, and the US, according to Statista.
The US metalworking machinery industry consists of about 6,400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $32 billion.
Competitive Landscape
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 China, Mexico, and Canada account for about 30% of the US market. Exports account for about 50% of US production; leading destinations include Mexico, Canada, and China.
Products, Operations & Technology
Metalworking die and die sets account for about 20% of US industry revenue. Cutting tools, jigs and fixtures, and punches for about 15%, each. Other products ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

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