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U.S. Machine Tool Market. Analysis And Forecast to 2030
Report Update: Feb 1, 2025

U.S. Machine Tool Market. Analysis And Forecast to 2030

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Nov 7, 2024

In 2023, the United States Sees a 10% Rise in Machine Tool Imports, Reaching $9 Billion

U.S. Machine Tool Imports

In 2023, supplies from abroad of machine tools increased by 2.2% to 452K tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.6% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2022 when imports increased by 19%. Over the period under review, imports attained the maximum in 2023 and are expected to retain growth in years to come.

In value terms, machine tool imports totaled $9B (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +2.0% from 2013 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of 16% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in the near future.U.S. Machine Tool Imports By Country (Million USD)

COUNTRYImport Value of Machine Tool in U.S. (million USD)
20132014201520162017201820192020202120222023
Japan2,4772,5162,2712,0632,0962,3422,3821,6371,8412,0932,184
Germany1,2151,1391,1841,1961,3961,6081,3261,0891,1411,2061,472
Italy493505529544495511583521537654805
South Korea462443445283416596607459482629793
China539544564554629697514483541607568
Canada477423466418458439416365442531557
Taiwan (Chinese)464469452390403515479315356526448
Others1,2611,3231,3141,2871,3741,6231,6001,3271,6761,9042,150
Total7,3897,3617,2246,7357,2678,3317,9066,1977,0168,1508,977

Imports by Country

Japan (86K tons), China (85K tons) and Germany (43K tons) were the main suppliers of machine tool imports to the United States, with a combined 47% share of total imports. Taiwan (Chinese), South Korea, Italy and Canada lagged somewhat behind, together accounting for a further 30%.

From 2013 to 2023, the biggest increases were recorded for Canada (with a CAGR of +7.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machine tool suppliers to the United States were Japan ($2.2B), Germany ($1.5B) and Italy ($805M), with a combined 50% share of total imports. South Korea, China, Canada and Taiwan (Chinese) lagged somewhat behind, together comprising a further 26%.

South Korea, with a CAGR of +5.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the machine tool price stood at $19,858 per ton (CIF, US), rising by 7.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $21,214 per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Switzerland ($43,661 per ton), while the price for China ($6,704 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the machine tool market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • NAICS 333517 - Machine tool manufacturing

Companies mentioned:

  • The Scotts Miracle-Gro Company
  • Electroimpact
  • Noble Drilling Services
  • Trumpf
  • Haas Automation
  • Gleason Corporation
  • Hypertherm
  • Victor Technologies Group
  • Mazak Corporation
  • Hardinge
  • Makino Inc.
  • Wagstaff
  • Atlas Copco Drilling Solutions
  • U. S. Tool Grinding
  • Wilson Tool International
  • Stolle Machinery Company
  • Nidec Minster Corporation
  • Peddinghaus Corporation
  • Kps Capital Partners
  • Ridge Tool Company
  • Husqvarna Construction Products North America
  • Fives Landis Corp.
  • Madison Capital Partners
  • Graywood Companies
  • Schick Manufacturing
  • Victor Technologies International
  • U.S. Union Tool
  • NM Group Global
  • Milacron Marketing Company
  • Manan Tool & Manufacturing Inc
  • Murata Machinery USA Holdings
  • Rockwood Service Corporation
  • Kobe Steel USA Holdings Inc.
  • Victor Technologies Holdings
  • Port City Group

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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