Metalworking Machinery Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 33351Revenue
$36.7bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
133k
Businesses
9,581
Wages
$X.Xbn
Metalworking Machinery Manufacturing in the US industry analysis
The Metalworking Machinery Manufacturing industry produces power-operated tools and machine accessories for finishing or shaping metal parts. Manufacturers develop products used by motor vehicle parts manufacturers. The pandemic significantly hurt metalwork manufacturing, as business closures and supply chain disruptions took a toll on manufacturers. This slowdown came amid decreases in industrial production, private investment in metalworking machinery and demand for automobiles and parts manufacturers. Metalworking Machinery Manufacturing industry revenue has inched downward at a CAGR of 0.6% over the past five years and is expected to total $36.7 billion in 2024, when revenue will fall by an estimated 0.7%. Profit has dropped over the past five years because of volatile input costs.
Trends and Insights
- The price decline of steel after its 2021 surge reduced manufacturers' revenue. Since steel is a crucial input for the industry, its lower cost means manufacturers earn less, as high prices typically allow them to increase revenue by passing costs downstream.
- Supply chain disruptions weakened demand for construction and automotive products, causing significant setbacks. However, with the normalization of operations, demand from these critical markets has resumed, signaling recovery and stabilization of the affected industries.
- The Great Lakes region hosts key manufacturing hubs, notably the automotive industry, enhancing the strategic position of metalworking machinery companies. Its proximity to Canada ensures efficient trade routes with a vital economic partner, boosting business opportunities.
- The industry's fragmented nature stems from the diverse needs of various downstream markets. Companies of different sizes find success by catering to these unique demands, allowing them to specialize in narrow, highly focused market segments.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.6 % over the past five years, to reach an estimated $36.7bn in 2024.
Trends and Insights
Volatility in the world price of steel spills over into metalwork performance
- The world price of steel, a key input in industry operations, exhibits significant volatility. Following a steep decline amid the pandemic, steel demand outpaced supply in 2021, dramatically increasing prices for the year. This was short-lived, however, as the price of steel plummeted in the following years, causing significant operational challenges for industry manufacturers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Private investment to stabilize
- Stronger business conditions and better access to credit will encourage investment in new metalworking tools. Rising capital expenditure in the manufacturing sector will boost demand for metalworking machinery. As demand from the construction sector normalizes, companies will invest in new metalworking machinery vital to their operations.
Biggest companies in the Metalworking Machinery Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Hyundai Motor Group | 2,863.2 | 69.8 | 2.4 | |
Haas Automation Inc. | 1,153.2 | 71.5 | 6.2 | |
Fives Landis Ltd | 697.5 | 43.2 | 6.2 |
To view the market share and analysis for all 62 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Special tools, dies, jigs and fixtures, Metal-cutting and machine-forming machinery and Industrial molds. Special tools, dies, jigs and fixtures is the largest segment of the Metalworking Machinery Manufacturing in the US.
Trends and Insights
Demand for special tools suffers as the automotive industry struggles
- Manufacturers of these products are typically small companies contracted by metal- and plastic-casting companies. Major casters include motor vehicle and parts manufacturers, so demand for these products has waned in line with the automotive industry's struggles
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Power Tools & Other General Purpose Machinery Manufacturing in the US
Complementors
- Woodworking Machinery Manufacturing in the US
- Plastics & Rubber Machinery Manufacturing in the US
- Printing, Paper, Food, Textile & Other Machinery Manufacturing in the US
International industries
- Global Auto Parts & Accessories Manufacturing
- Metalworking Machinery Manufacturing in Canada
- Iron & Steel Manufacturing in the UK
Table of Contents
About this industry
Industry definition
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).
What's included in this industry?
Manufacturing special dies, tools, die sets, jigs and fixturesManufacturing metal-cutting and forming machine toolsManufacturing industrial moldsManufacturing cutting and machine tool accessoriesManufacturing rolling mills and other metalworking machineryCompanies
Hyundai Motor GroupHaas Automation Inc.Fives Landis LtdPurchase this report to view all 62 major companies in this industry.
Related Terms
COMPUTER-AIDED DESIGN (CAD)LATHEJIGIndustry Code
NAICS 33351 - Metalworking Machinery Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The price decline of steel after its 2021 surge reduced manufacturers' revenue. Since steel is a crucial input for the industry, its lower cost means manufacturers earn less,...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Supply chain disruptions weakened demand for construction and automotive products, causing significant setbacks. However, with the normalization of operations, demand from th...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Great Lakes region hosts key manufacturing hubs, notably the automotive industry, enhancing the strategic position of metalworking machinery companies. Its proximity to C...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The industry's fragmented nature stems from the diverse needs of various downstream markets. Companies of different sizes find success by catering to these unique demands, al...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Hyundai Motor Group stands out with a market share exceeding 5.0% and its annual growth surpasses industry averages. Meanwhile, Japan leads the global market in manufacturing...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Hyundai Motor Group's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Haas Automation Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Fives Landis Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 59 additional companies
Detailed analysis
- Description and key data for Hyundai Motor Group, and factors influencing its performance in the industry
- Description and key data for Haas Automation Inc., and factors influencing its performance in the industry
- Description and key data for Fives Landis Ltd, and factors influencing its performance in the industry
- Description, key data and performance trends for 59 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The decline in steel prices comes after a significant surge in 2021, impacting various industries reliant on this essential material. This price drop may decrease production ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Volatile steel prices have disrupted the metalworking machinery industry, contributing to declining profit over the past five years. Since steel is a critical component, fluc...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Metalworking Machinery Manufacturing in the US industry in United States in 2024?
The market size of the Metalworking Machinery Manufacturing in the US industry in United States is $36.7bn in 2024.
How many businesses are there in the Metalworking Machinery Manufacturing in the US industry in 2024?
There are 9,581 businesses in the Metalworking Machinery Manufacturing in the US industry in United States, which has declined at a CAGR of 1.3 % between 2019 and 2024.
Has the Metalworking Machinery Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Metalworking Machinery Manufacturing in the US industry in United States has been declining at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Metalworking Machinery Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Metalworking Machinery Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Metalworking Machinery Manufacturing in the US market in United States?
The biggest companies operating in the Metalworking Machinery Manufacturing market in United States are Hyundai Motor Group, Haas Automation Inc. and Fives Landis Ltd
What does the Metalworking Machinery Manufacturing in the US in United States include?
Manufacturing special dies, tools, die sets, jigs and fixtures and Manufacturing metal-cutting and forming machine tools are part of the Metalworking Machinery Manufacturing in the US industry.
Which companies have the highest market share in the Metalworking Machinery Manufacturing in the US in United States?
The company holding the most market share in United States is Hyundai Motor Group.
How competitive is the Metalworking Machinery Manufacturing in the US industry in United States?
The level of competition is high and increasing in the Metalworking Machinery Manufacturing in the US industry in United States.
