$40.4bn
$X.Xbn
192k
16,244
$XX.Xbn
The Machine Shop Services industry slumped in recent years, impacted by challenges like the COVID-19 pandemic in 2020 and accompanying economic volatility marked by heightened inflation. Revenue has depressed at a CAGR of 3.0% through the end of 2024 to an estimated $40.4 billion, including an expected 3.0% drop in 2024 alone. This downturn is partly because of volatility in steel and aluminum prices, driven by production halts in 2020 and ongoing post-pandemic supply chain issues, which have increased production costs across the industry.
Industry revenue has declined at a CAGR of 3.1 % over the past five years, to reach an estimated $40.4bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
BTM Company LLC | 51.3 | 2.3 | 4.5 | |
Karlee Company | 47.4 | 2.1 | 4.4 | |
3d Medical | 39.2 | 1.7 | 4.4 |
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Machine Shop Services in the US
Industry revenue is measured across several distinct product and services lines, including Machine centers, Turning centers and lathes and Grinding . Machine centers is the largest segment of the Machine Shop Services in the US.
Machine centers face decline from economic volatility
The Machine Shop Services industry cuts raw materials into specified shapes and sizes using tools such as lathes, milling machines, grinders and drill presses. Almost all forms of metal product fabrication involve machining and manufacturers may also machine plastic and composite materials.
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NAICS 33271 - Machine Shop Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Volatile commodity prices harm service providers. Since machine shops rely on growing input costs that can be passed onto consumers, the inconsistent steel and aluminum price...
Learn about an industry's products and services, markets and trends in international trade.
Technological innovation benefits a diverse set of products. Machine shops harnessed this development as technological innovation grew to refine their production process.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
A high manufacturing presence benefits machine shops. Since machine shops rely on downstream manufacturing markets, any region with a robust manufacturing base will benefit m...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
High industry fragmentation ensures that only some companies control a large market segment. The local nature of machine shops creates many small shops that operate with few ...
Learn about the performance of the top companies in the industry.
No company owns more than a 5.0% share of the market. The industry is highly competitive and lacks any clear leader in the market, with many companies competing over differen...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Strong manufacturing performance boosts machine shops. As growth in the manufacturing sector occurs, higher demand for machine shop services will enable industry growth.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Dependence on price stability harms profitability for machine shops. As costs for goods such as steel decline, industry shops cannot pass excess costs from price growth onto ...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Machine Shop Services in the US industry in United States is $40.4bn in 2024.
There are 16,244 businesses in the Machine Shop Services in the US industry in United States, which has declined at a CAGR of 1.7 % between 2019 and 2024.
The market size of the Machine Shop Services in the US industry in United States has been declining at a CAGR of 3.1 % between 2019 and 2024.
Over the next five years, the Machine Shop Services in the US industry in United States is expected to grow.
The biggest companies operating in the Machine Shop Services market in United States are BTM Company LLC, Karlee Company and 3d Medical
Turning services to produce cylindrical components and Drilling and boring services are part of the Machine Shop Services in the US industry.
The company holding the most market share in United States is BTM Company LLC.
The level of competition is high and steady in the Machine Shop Services in the US industry in United States.