Cutting Tool & Machine Tool Accessory Manufacturing - Industry Market Research Report

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Cutting Tool & Machine Tool Accessory Manufacturing

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 Cutting Tool and Machine Tool Accessory Manufacturing industry revenue growth over the five years to 2018. Although revenue is expected to increase overall during the period, there has been some volatility. The US dollar has appreciated significantly during the five-year period, making exports more expensive to key markets, including Canada. Consequently, this hurts industry operators, who rely on exports for nearly one-fifth of their annual revenue. The industry is expected to contend with similar conditions over the five years to 2023. Industrial activity is expected to exhibit similar annualized growth trends and is not forecast to experience any sharp year-over-year declines.

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.