In 2023, The United States Sees a 10% Rise in Machine Tool Imports, Reaching $9 Billion - News and Statistics - IndexBox

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In 2023, supplies from abroad of machine tools increased by 2.2% to 452K tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.6% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2022 when imports increased by 19%. Over the period under review, imports attained the maximum in 2023 and are expected to retain growth in years to come.

In value terms, machine tool imports totaled $9B (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +2.0% from 2013 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2022 with an increase of 16% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in the near future.

Japan (86K tons), China (85K tons) and Germany (43K tons) were the main suppliers of machine tool imports to the United States, with a combined 47% share of total imports. Taiwan (Chinese), South Korea, Italy and Canada lagged somewhat behind, together accounting for a further 30%.

From 2013 to 2023, the biggest increases were recorded for Canada (with a CAGR of +7.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest machine tool suppliers to the United States were Japan ($2.2B), Germany ($1.5B) and Italy ($805M), with a combined 50% share of total imports. South Korea, China, Canada and Taiwan (Chinese) lagged somewhat behind, together comprising a further 26%.

South Korea, with a CAGR of +5.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2023, the machine tool price stood at $19,858 per ton (CIF, US), rising by 7.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $21,214 per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Switzerland ($43,661 per ton), while the price for China ($6,704 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the machine tool market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles