In 2016, machine tool consumption showed growth, following a 3% decline the previous year
From 2008 to 2016, the U.S. machine tool market showed mixed dynamics. A significant drop in 2009 was followed by growth over the next five years, until the market decreased again in 2015. In 2016, the machine tool market increased by 5% to 9,715 million USD due production growth.
Steady U.S. machine tool market growth is expected
U.S. growth in machine tool consumption is expected to accelerate to +2.6% (currently +2.3%) in the medium term, amid the current economic recovery and a growing demand from downstream industries due increasing manufacturing and investment activity.
U.S. machine tool production increased by 5% in 2016
U.S. machine tool manufacturing illustrated mixed dynamics over the last few years. In 2016, the value of shipments in the industry reached 7,468 million USD, after 5% decline of the previous year.
Metal machining centers recorded the largest share in terms of machine tool production
Metal machining centers (multifunction numerically controlled machines) accounted for the highest share (18% in 2016) of U.S machine tool manufacturing, followed by rebuilt metal-cutting machine tools, remanufactured metal-cutting machine tools, and parts for metal-cutting-type machine tools (sold separately) (8.7%), metal punching and shearing machines (including power and manual) and bending and forming machines (power only) (8.1%), metal grinding, polishing, buffing, honing, and lapping machines, excluding gear-tooth grinding, lapping, polishing, and buffing machines (7.9%), metal gear cutting machines (7.9%) and metal lathes (turning machines) numerically and nonnumerically controlled (6.7%). The remaining categories occupy about 43% in the aggregate.
The most notable growth rates in U.S machine tool manufacturing from 2008 to 2016 were attained by rebuilt metal-cutting machine tools, remanufactured metal-cutting machine tools, and parts for metal-cutting-type machine tools (sold separately) (+5.1% per year), while the other leading categories experienced more modest paces of growth.
Mexico, Canada and China were the main export destinations of the U.S. machine tool
The U.S. exported 3.4 billion USD of machine tool in 2016, which accounted for 46% of U.S. machine tool output. There was a mixed trend of exports value. After the decline in 2009, it recovered over the next two years and downturned from 2013 to 2016.
In 2016, the main destinations of U.S. machine tool exports were Mexico (26%), Canada (17%) and China (12%). China had the highest annual average growth rate of imports (+5.1%) among the leaders from 2007 to 2016. The share exported to Mexico (+11 percentage points) and China (+4 percentage points) increased, while the share sent to Canada illustrated negative dynamics (-5 percentage points). The shares of the other countries remained relatively stable throughout the analyzed period.
Japan was a leader among the main suppliers of the machine tool into the U.S.
The value of total U.S. machine tool imports totalled 5.7 billion USD in 2016, with a declining trend over the last four years. Intense competition from imports, particularly from Japan and Germany, has increasingly constrained industry performance during this period. As a result, the share of imports in consumption has reached 58% in 2016.
Japan (33%, based on USD), Germany (18%), Italy (9%), China (6%) and Canada (6%) were the main suppliers of total machine tool into the U.S., with a combined share of 72% of total U.S. imports in 2016. Italy (+7.1% per year) and China (+5.7% per year) were the fastest growing suppliers from 2007 to 2016. Italy (+4 percentage points), Germany (+2 percentage points) and China (+2 percentage points) strengthened its position in the U.S. imports from 2007 to 2016. By contrast, Japan and China saw its share reduced by –7 percentage points and -2 percentage points, respectively.
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