Cutting Tool Market Overview in the USA
In value terms, cutting tool production amounted to $ in . The total output value increased at an average annual rate of +% over the period from 2013 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of % against the previous year. Cutting tool production peaked at $ in 2018; however, from 2019 to , production failed to regain the momentum.
The value of the cutting tool market in the U.S. fell to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a mild slump. The growth pace was the most rapid in 2018 when the market value increased by % y-o-y. Cutting tool consumption peaked at $ in 2013; however, from 2014 to , consumption failed to regain the momentum.