US Machine Tool Demand, Shipments to See Near-Terms Gains Following Pandemic Lows

CLEVELAND, March 2, 2022 /PRNewswire/ -- Demand for machine tools in the US is forecast to grow 6.7% yearly in nominal terms through 2025 from a suppressed 2020 base, according to Machine Tools: United States, a report recently released by Freedonia Focus Reports. Continued growth in manufacturing activity, and recovery from the economic impact of the COVID-19 pandemic will generate demand. In addition, as machine tools are utilized at higher rates, wear on equipment will increase and spur replacement sales. However, market saturation, as well as the reparability and long lifespan of many machine tools, will continue to weigh on demand.

Machine tool shipments are expected to advance 7.2% annually to 2025 from a low base in 2020, which was suppressed by the onset of the COVID-19 pandemic. Shipments will generally lag demand, as imports – which comprised 61% of demand in 2020 – are expected to grow as a share of demand. Supply chain issues will encourage ongoing reshoring efforts. Automation will also encourage onshoring efforts, as higher labor costs in the US will become less of a factor. Improvements in automation technology will also encourage purchases of new machines as a means of reducing labor costs.

These and other key insights are featured in Machine Tools: United States. This report forecasts to 2021 and 2025 US machine tool demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by type in terms of:

• metal cutting
• metal forming
• accessories
• rebuilt and remanufactured machine tools, and parts

To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2010 to 2020.

Excluded from the scope of this report are tools designed primarily for nonmetal applications, as well as industrial patterns, welding apparatus, and other types of metalworking machinery (e.g., foundry equipment). Also excluded are additive manufacturing machines and metal casting equipment. Re-exports of machine tools are also excluded from demand and trade figures.

More information about the report is available at:
https://www.freedoniafocusreports.com/Machine-Tools-United-States-FF75018/?progid=91541 

About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Industrials reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:

• total historical market size and industry output
• segmentation by products and markets
• identification of market drivers, constraints, and key indicators
• segment-by-segment outlook in five-year forecasts
• a survey of the supply base
• suggested resources for further study

Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com 

SOURCE The Freedonia Group