Modern Machine Shop

MAY 2018

Modern Machine Shop is focused on all aspects of metalworking technology - Providing the new product technologies; process solutions; supplier listings; business management; networking; and event information that companies need to be competitive.

Issue link: https://mms.epubxp.com/i/971097

Contents of this Issue

Navigation

Page 81 of 179

MMS MAY 2018 80 mmsonline.com WORLD MACHINE TOOL SURVEY The Machine Tool Industry Is Booming Globally U.S. machine tool purchases rose in 2017, as shown by the 2017 World Machine Tool Survey. A global boom now makes it hard for U.S. shops to get new machines. The U.S. metalworking industry is red-hot. The Gardner Business Index (GBI): Metalworking averaged nearly 56 in 2017, which was easily the best year since Gardner Intelligence started the Index almost seven years ago. The Metalworking Index continued to increase in the beginning of 2018, hitting an all-time high of 61.3 in February. The strong performance of metalworking facilities throughout 2017 resulted in a signifi- cant increase in machine tool consumption, as ref lected by data from Gardner Intelligence's latest World Machine Tool Survey. Machine tool consumption in the United States totaled $8.142 billion in 2017, an increase of 6.8 percent from 2016. This increase represented the fastest growth rate since 2011, and the second fastest since 2007. While a 6.8-percent increase is commendable looking at consumption in the last 10 years, it is rel- atively low compared to, let's say, a 60-year history of U.S. machine tool consumption. So, why do I say that the machine tool industry is booming? In 2017, 12 of the top 15 countries that con- sume machine tools increased their consumption from the previous year. This occurrence is rather STEVEN KLINE, JR. | CHEIF DATA OFFICER In 2017, global real machine tool consump- tion was $82.9 billion, which was an increase of 4.5 percent. This was the most significant increase in global machine tool consumption since 2011. 110B 100B 90B 80B 70B 60B 50B 40B 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 Global Real Machine Tool Consumption 2011 $103B 2014 $90.7B 2017 $82.9B

Articles in this issue

Links on this page

Archives of this issue

view archives of Modern Machine Shop - MAY 2018