Power Tools & Other General Purpose Machinery Manufacturing in the US - Market Research Report

Tough as Nails: Industry Revenue is Projected to Continue Growing Following the Reopening of the Economy

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.

The Power Tools and Other General Purpose Machinery Manufacturing industry produces a variety of products, including power-driven hand tools, welding equipment, packaging machinery, industrial-process furnaces, fluid-power cylinders and actuators. The industry fluctuates in-line with overall manufacturing and construction activity as downstream demand is concentrated primarily in these markets. Over the past five years, the industry has been boosted by rising construction activity and industrial production. However, the COVID-19 pandemic disrupted both commercial construction and manufacturing activity, but the industry was buoyed by gains in residential housing markets. Still, the industry has shrunk at an annualized rate of 1.1% to $56.1 billion over the five years to 2023, including an expected 2.3% drop in 2023 alone. Items manufactured in this industry include power-driven hand tools; welding and soldering equipment; packaging machinery; industrial-process furnaces and ovens; fluid-power cylinders and actuators; fluid-power pumps and motors; scales and balances; and miscellaneous general-purpose machinery.