Industrial Machinery Manufacturers

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 2,900 industrial machinery manufacturers in the US produce the machines required to make other products. These can range from relatively simple mechanical modules that perform a single function to complex computer-controlled machines that perform multiple processing functions. Key customer markets are woodworking, metals, plastics, paper, textiles, bookbinding, printing, food, and semiconductor production.

Keeping Up With Technology Advances

In order to remain competitive, manufacturing processes are rapidly and increasingly becoming automated.

Dependence On Exports

Exports account for about 58% of US industrial machinery manufacturers’ revenue and create additional risks for manufacturers.

Industry size & Structure

The average industrial machinery manufacturer has 40 employees and produces about $13 million in annual revenue.

    • About 2,900 companies employ 116,000 workers and generate $38 billion in annual revenue.
    • 64% of firms have less than 20 employees.
    • About 236 facilities are very large, employing 500 or more workers.
    • Large companies include Siemens AG, ABB, Honeywell, and General Electric.
                                  Industry Forecast
                                  Industrial Machinery Manufacturers Industry Growth
                                  Source: Vertical IQ and Inforum

                                  Recent Developments

                                  Feb 28, 2023 - Space-Saving Robots
                                  • Smaller manufacturers needn’t miss out on the opportunities and benefits of automation as the floor space required to accommodate robots shrinks, Modern Machine Shop (MMS) reports. The growing market for affordable, space-saving robots and pre-engineered robotic work cells enables shops that are tight on floor space to optimize workflows and deliver high consistency, efficiency and quality. Today’s robots boast smaller space requirements, with compact and lightweight six-axis robots that can be mounted close to workpieces and machines in existing lines and cells. Robots deployed for machine tending can improve throughput and operational safety while maximizing overall equipment effectiveness. Smaller robots can also be deployed for secondary operations such as trimming, laser cutting, laser marking, and deburring, according to MMS. Robots can help shops overcome challenges such as evolving customer requirements, supply chain issues, and labor shortages while elevating workforce productivity and maintaining fluid operations.
                                  • The surprisingly strong January jobs report held good news for the US manufacturers with the addition of 19,000 jobs, more than double the 8,000 jobs added in December, according to Labor Department statistics. Manufacturing sectors that added jobs in January included makers of non-durable goods, adding 15,000 jobs, while durable goods manufacturers added 4,000 jobs. The food products manufacturing sector added 6,900 jobs, followed by apparel manufacturing, which gained 2,100 jobs. On the durable goods side, gains were seen in the nonmetallic mineral products, which added 4,200; fabricated metals, which added 3,100; and machinery manufacturing, which gained 2,000. Semiconductor, electrical equipment, and plastics manufacturers also posted marginal gains in employment. Manufacturing industries that shed jobs include transportation equipment (-8,400 jobs) and chemicals (-3,500), as well as communications equipment manufacturing (-1,100) and furniture (-500).
                                  • Manufacturers are stepping up investment in advanced or emerging technologies, including artificial intelligence, virtual reality, machine learning, digital twins and threads, and data analytics, according to NAM’s Top 8 Manufacturing Trends for 2023. Digital technologies that present opportunities to enhance efficiencies, increase resilience and improve the bottom line require sophisticated analytics to maximize intelligence from the ever expanding dataset that new technologies enable. New technologies are also being used to generate top-line growth by accelerating innovation and providing the data necessary to create new products and business models, according to the NAM trend report. The challenge for manufacturers looking to make the most of the opportunities cutting-edge technologies present will be to hire more skilled employees and upskilling existing workers, given the ongoing talent shortage facing the industry.
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