Machine Tool Orders Making a Second-Half Rebound
Release time：2024-10-17
After a double-digit rise in order volumes during August the industry is still trailing last year’s pace, but factors are in place for demand to remain strong in the remaining months of 2024.
U.S. manufacturers’ new orders for machine tools improved to $360.8 million in August, up 22.7% from July but still -12.0% behind the August 2023 new-order volume. The latest result brings the eight-month value for U.S. machine tool orders to $2.86 billion, -11.5% less than the January-August 2023 order total.
The totals are supplied by AMT - the Assn. for Manufacturing Technology in its monthly U.S. Manufacturing Technology Orders report, which tracks purchases of new metal-cutting machinery and metal-forming and fabricating machinery nationwide and in six regions, as an indicator demand for that capital equipment. USMTO also serves as an indicator of future manufacturing activity because it quantifies machining operations’ investments in preparation for new production programs.
AMT noted that the latest results show that new-order activity remains “above historic levels” for August, and concluded that this trend shows that the manufacturing-technology industry “is still undergoing a period of normalization following the COVID disruptions rather than a true decline. Historically elevated capacity utilization rates across durable goods manufacturers indicate a very real need for additional investment in manufacturing technology.”
AMT noted that contract machine shops (i.e., “job shops”), which represent the largest cohort of machine tool buyers, increased both the number and value of machines ordered for the first time since March. “Since job shops typically absorb elevated capacity needs from OEMs, this buying trend indicates that production could continue to grow,” according to the association.
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