Metalworking Machinery Manufacturing in the US - Industry Market Research Report

Metalworking Machinery Manufacturing in the US - Industry Market Research Report

  • June 2021 •
  • 41 pages •
  • Report ID: 198776 •
  • Format: PDF
Forged in fire: Recovering commodity prices will likely support downstream demand


Metalworking Machinery Manufacturing in the US

Concentration in the Metalworking Machinery Manufacturing industry is low. This industry is highly fragmented into thousands of operators, with more than half of all companies employing fewer than 10 people. The top four companies combine for less than 10.0% of total market share. At an estimated 3.8% market share, Haas Automation Inc. is the largest industry operator in the United States. Other notable operators include Kennametal Inc. and Hardinge Inc., which was recently acquired by Pivet Fund Management LLC in 2018.

Product specialization causes industry fragmentation

• This industry is fragmented due to the specialized nature of downstream markets. The variety of downstream markets, such as automotive, airplane, defense, construction, mining, energy and gas, give smaller companies an advantage by specializing in individual product segments rather than producing a vast array of machinery.

Offshoring of manufacturing decreases market share concentration

• The relocation of manufacturing operations from the United States to countries with lower operating costs has decreased the costs of production; however, it has also made those operations excluded from the industry. This trend causes relevant domestic manufacturing operations to make up a smaller share of total market share.

Companies compete for local and regional market share
• Internal competition stems from metalworking machinery manufacturers vying for local and regional market share. Quality, reliability, price, delivery time, service and technological characteristics are the main bases of competition. Machine price, reliability and performance are critical for customers.

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.

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