In 2016, machine tool consumption showed growth, following a 3% decline the previous year
From 2008 to 2016, the U.S. machine tool market showed mixed dynamics. A significant drop in 2009 was followed by growth over the next five years, until the market decreased again in 2015. In 2016, the machine tool market increased by 5% to 9,715 million USD due production growth.
Steady U.S. machine tool market growth is expected
U.S. growth in machine tool consumption is expected to accelerate to +2.6% (currently +2.3%) in the medium term, amid the current economic recovery and a growing demand from downstream industries due increasing manufacturing and investment activity.
U.S. machine tool production increased by 5% in 2016
U.S. machine tool manufacturing illustrated mixed dynamics over the last few years. In 2016, the value of shipments in the industry reached 7,468 million USD, after 5% decline of the previous year.
Metal machining centers recorded the largest share in terms of machine tool production
Metal machining centers (multifunction numerically controlled machines) accounted for the highest share (18% in 2016) of U.S machine tool manufacturing, followed by rebuilt metal-cutting machine tools, remanufactured metal-cutting machine tools, and parts for metal-cutting-type machine tools (sold separately) (8.7%), metal punching and shearing machines (including power and manual) and bending and forming machines (power only) (8.1%), metal grinding, polishing, buffing, honing, and lapping machines, excluding gear-tooth grinding, lapping, polishing, and buffing machines (7.9%), metal gear cutting machines (7.9%) and metal lathes (turning machines) numerically and nonnumerically controlled (6.7%). The remaining categories occupy about 43% in the aggregate.
Read more: HIGHLIGHTS OF THE U.S. MACHINE TOOL MARKET