Metalworking Machinery Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 4/15/2024
SIC Codes: 3541, 3542, 3544, 3545
NAICS Codes: 3335
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Metalworking Machinery Manufacturing Industry Profile

Companies in this industry manufacture metalworking machinery, including molds, dies, cutting tools, and machining centers. Major companies include Hardinge, Hurco, and Kennametal (all based in the US), along with Amada and DMG Mori (both located in Japan), Fives (France), Shenyang Machine Tool (China), and TRUMPF (Germany).

The global machine tools market is expected to reach over $114 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.7% over the period, according to Astute Analytics. The Asia-Pacific region continues to be the largest importer of machine tools due to the growing manufacturing sector in the region and the rising demand for goods and services.

The US metalworking machinery industry consists of about 6,400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of more than $30 billion.


Demand is closely linked to US industrial activity. The profitability of individual companies depends on the complexity of their product designs and their manufacturing efficiency. Large companies have the resources to make complex, automated machinery. Small companies can compete successfully by making specialty products, replacement parts, or accessories. The US industry is fragmented: the 50 largest firms generate 30% of revenue.

International trade in metalworking machinery is substantial because of the high value of the products, mainly for machining centers and cutting tools. Many US manufacturers have foreign sales of operations, and some have foreign manufacturing sources. Imports, largely from ...

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