MARKET INSIGHT – Machine Tool Manufacturing
NACIS 333517 | $8,414,504,000
by Joe Jackson
Marketing & Events Assistant, PMPA
Published February 1, 2022
The parts that our precision machining shops manufacture provide essential functionality to many farming, metalworking, milling, grinding, and drilling machines that we use in our industry to make the critical parts that make a difference.
Top 5 Companies
- Gleason Corporation., NY
- Hypertherm Inc., NH
- Dmg Mori USA Inc., IL
- Hardinge Inc., NY
- Trumpf Inc., CT
- Our precision turned products manufacturing industry’s sales are 2.5 times that of the machine tool manufacturing industry.
- The machine tool manufacturing industry is one of the least concentrated markets we serve. Of the 1,309 companies verified in this NAICS Code, the top 5 companies make up 26% sales in this industry.
- At minimum, 14% of the sales in the machine tool manufacturing industry comes out of New York. The northeastern seaboard is a concentrated hub for machine tool manufacturing.
- The machine tool manufacturing industry spends roughly $3 billion on Materials, Components, Supplies, Minerals and Machinery.
- If precision turned products are only 1% of this industry’s spending, that would equate to $30 million in sales opportunity in NAICS 333517 for our precision machining shops.
Source: U.S. Census, NAICS.com