Dull blade: Although revenue is expected to increase, growth has been volatile
Cutting Tool & Machine Tool Accessory Manufacturing This industry manufactures accessories and attachments for tools that cut and form metals. Industry products include small knives, blade cutters and drilling bits, as well as holders, clampers and tapering attachments.
Cutting and machine tools and their accessories are primarily demanded by machine shops, automotive manufacturers and heavy equipment manufacturers. Improving activity in those sectors has pushed demand for cutting tool and machine tool accessories and has driven industry revenue growth over the five years to 2017. The industry is expected to contend with similar conditions in the five years to 2022.
Industrial activity is expected to exhibit similar annualized growth trends and is not forecast to experience any sharp year-over-year declines. Growing demand for cutting tool and machine tool accessories is expected to be derived from nonresidential building activity, which is expected to grow at an accelerated rate. However, less of this demand will be directed at US manufactured products as import penetration increases.
This industry manufactures accessories and attachments for cutting tools, such as small knives and drilling bits. It also manufactures accessories for machine tools such as mechanical clampers. Operators may also provide custom fabrication and repair work on a contract basis.
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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We have upgraded our forecast for world basic metals production for 2018 from 3.2% to 4.2%. Whilst we have downgraded the outlook across a number of economies as Section 232 tariffs and escalating trade tensions weigh on growth, this is more than offset by stronger-than-expected production in China.