U.S.: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in the U.S.

The U.S. machine-tool for working metal market reduced slightly to $X in 2021, standing approx. at the previous year. Overall, consumption showed a pronounced decline. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Machine Tools For Working Metal in the U.S.

In value terms, machine-tool for working metal production stood at $X in 2021. Overall, production saw a abrupt setback. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports from the U.S.

In 2021, overseas shipments of machine tools for working metal increased by 34% to X units, rising for the fourth consecutive year after two years of decline. Over the period under review, exports, however, saw a noticeable curtailment. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, machine-tool for working metal exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a noticeable reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for machine-tool for working metal exports from the United States, with a 57% share of total exports. Moreover, machine-tool for working metal exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), fourfold. The third position in this ranking was held by the UK (X units), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-4.2% per year) and the UK (-0.8% per year).

In value terms, the largest markets for machine-tool for working metal exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined 59% share of total exports. These countries were followed by India, the UK, Germany, Ukraine, Chile, Australia and Taiwan (Chinese), which together accounted for a further 13%.

Ukraine, with a CAGR of +22.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2021, reducing by -7.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 52% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into the U.S.

In 2021, machine-tool for working metal imports into the United States rose notably to X units, surging by 8% against the previous year. Overall, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +2.1% against 2017 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 29% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, machine-tool for working metal imports amounted to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 20%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X units), Taiwan (Chinese) (X units) and Italy (X units) were the main suppliers of machine-tool for working metal imports to the United States, with a combined 41% share of total imports. Japan, Germany, the UK, China, Canada, Vietnam, Mexico, Austria, Spain and India lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +27.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machine-tool for working metal suppliers to the United States were Japan ($X), Italy ($X) and Germany ($X), with a combined 42% share of total imports. These countries were followed by the UK, Austria, Canada, China, South Korea, Taiwan (Chinese), Spain, Mexico, India and Vietnam, which together accounted for a further 40%.

In terms of the main suppliers, the UK, with a CAGR of +32.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average machine-tool for working metal import price amounted to $X per unit, which is down by -2.6% against the previous year. Overall, the import price recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2014 an increase of 31% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per unit), while the price for Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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