Number of Cutting Tool and Machine Tool Accessory Manufacturing Businesses in the US (2000–2023)
As of 2023
5,234
cutting tool and machine tool accessory manufacturing businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The cutting tool and machine tool accessory manufacturing industry has declined 43% since 2000 (from 9,180 to 5,234 firms).
- •The peak year was 2000 with 9,180 firms.
- •Recent trend (last 5 years): the industry is shrinking (-9.8%).
- •Employment: 136,234 workers in 2023 (-41.9% change since 2000).
- •Estimated 5-year survival rate: 74%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 5,234 | 5,555 | 136,234 | 3.4% | 5.8% | -0.2% |
| 2022 | 5,369 | 5,670 | 136,102 | 4.6% | 6.3% | +2.3% |
| 2021 | 5,497 | 5,799 | 134,883 | 3.4% | 7.4% | -7.1% |
| 2020 | 5,619 | 5,912 | 143,918 | 3.7% | 6.6% | -4.3% |
| 2019 | 5,800 | 6,074 | 149,987 | 3.0% | 4.9% | +0.4% |
| 2018 | 5,944 | 6,196 | 149,722 | 3.9% | 5.2% | +0.3% |
| 2017 | 5,797 | 6,043 | 147,501 | 4.0% | 5.9% | +0.3% |
| 2016 | 5,978 | 6,229 | 146,292 | 4.0% | 4.9% | -1.4% |
| 2015 | 6,040 | 6,273 | 148,499 | 3.3% | 4.5% | +2.0% |
| 2014 | 6,128 | 6,353 | 147,011 | 3.3% | 4.7% | +0.3% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.