U.S. Metalworking Facilities Projected to Spend $7.442 Billion in 2014 -- An Increase of Almost 20% on New Metalcutting Equipment

According to the 2014 Metalworking Capital Spending Survey conducted by Gardner Research, U.S. metalworking facilities will spend $7.442 billion, an increase of almost 20%, on new metalcutting equipment next year. In real dollars, this would be the largest volume of machine tools sold since 1998. Since 1957, machine tool sales have averaged $6.038 billion real dollars. Therefore, 2014 would be nearly 25% above the historical average if the forecast holds true.

• Job shops will account for almost 35% of all spending in 2014.
• Job shops will increase spending 36% over 2013 levels.
• Industrial mold shops are forecast to increase spending by 151%.
• Slightly more than 50% of job shop spending will come from the East North Central, which is more than four times bigger than the next largest region. The region will nearly triple in size.
• Increased spending will primarily come from plants with more than 50 employees.
• Turning Centers, Horizontal, >10-in Chuck
  o   2008 - $68.9 million
  o   2013 - $125.4 million
  o   2014 - $237.4 million
• Turning Centers, Horizontal, <10-in Chuck
  o   2008 - $110,0 million
  o   2013 - $73.1 million
  o   2014 - $220.8 million
• Machining Centers, Horizontal, >800-mm Pallet
  o   2013 - $28.7 million
  o   2014 - $483.5 million