The metalworking machinery and machine tools market witnessed a significant demand for new and used equipment last year and continues to grow this year as well. The aerospace, automobile, and defense sectors in the U.S. are the major driving factors of this demand for metal-forming machine tools.
The supply chain issues and limited inventory drove higher costs, longer lead times, and extended delivery times for new equipment, boosting used equipment values. However, the demand of end-users for late-model used machinery outmatches supply.
The increased activities in aviation, automotive, and oil and gas markets drive the rising technology orders and demand for quality production equipment for manufacturing and late-model CNC machine tools particularly. Market conditions remained favorable for used equipment dealers and auctioneers since early 2021 and achieved significant value for machinery. The buyers are paying premiums for available machinery due to the limited supply of late-model used equipment.
These trends will continue in the near term, while the rising inflation and economic uncertainty will also shape the marketplace. Apart from this, vibration stress relief (VSR) technology and faster CNC machine tools with more advances in sensing and feedback technology can optimize and adjust cutting parameters in real time. The implementation of sensors and smart chip technologies provides even more cutting and performance data and insight, allowing manufacturers to build valuable databases for optimizing machining processes.
The advances in additive manufacturing today extend beyond rapid prototyping, and the industry is witnessing more hybrid machines that combine additive and subtractive processes. These machines can reduce tooling and material handling costs while increasing productivity.
The 3D printing of metal products for lower volume applications will be more prevalent in the future. As their speed and accuracy increase and these systems will be well suited for high-volume applications, it can help reduce the cost of the components as they are made out of powder metal materials.
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