Here are the most prominent takeaways from 2017 and what to expect for this year. With a brand new year upon us, industry-leading research analysts are busy releasing the final numbers for 2017. The machine tool industry is infamous for its sometimes chaotic periods of growth and retraction, but the numbers released from multiple sources confirm that we are indeed in a stable situation with sales and consumption up across the board. The Big Buyers for 2017 Industry analysts reported the top 20 biggest buyers and lenders for November of 2017 recently and the numbers look very good and provide hope for the future should the momentum from the last months of 2017 carry over into 2018. The top five U.S. buyers listed in the report are the following companies:
If you read the following insights report you can see the other companies that made significant purchases in November of 2017; however, we'll only focus on the U.S. companies for this piece. Where were these companies buying their machine tools? Well, the EDA report also lists the top 20 lenders for machine tools in the month, and they made significant boosts to help the market as a whole. According to EDA's research, these top five lenders accounted for over 42% of machine tool financing services: The Tops Five U.S. Lenders
Are We in a Boom or Bust? As Modern Machine Shop will point out, the machine tool industry has been plagued with tumultuous periods throughout the last could of decades. Before, when manufacturing was steady and followed a linear progression, the machine tools industry and financing also followed suit. However, with U.S. companies taking advantage of cheap labor costs and China continuing to expand its manufacturing sector in recent years, the market experienced sudden dips in demand and consumption of machine tools. Many Are Optimistic That being said, referring back to the industry analysts' yearly reports, sales and consumption showed promising signs towards the end of 2017. For example, Statista found that machine tool consumption reached into the positive range for the first time in years with 2017 netting a surprisingly significant 1.6% boost over 2016’s numbers. Additionally, research firm AMT pointed out that orders for machine tools rose by 7.6% above 2016’s numbers for the same month researched. All of this being said, nobody knows for sure what the future holds and with shifting political and economic climates, so much can still seem up in the air. All we can go by are the numbers presented by analysts and their predictions for the future. Taking all of those into account, we’d say that 2018 could be another positive year for the machine tools industry. Comments are closed.
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