IndustryNet
      

IndustryNet Blog

U.S. tool & die makers report strong sales, job growth

Posted by IndustryNet on Tuesday, September 5, 2017

100000101toolman2Tool and die makers are machinists who create the parts and tools used to manufacture everything from the smallest toy to the largest jet engine. Originally, all work was done by hand. Today, computer numerically controlled, or CNC, machines perform many of the tasks. Once programmed, CNC machines work quickly, efficiently, and to exact specifications whether an order is for 10 units or 100.

IndustryNet, the leading source for information on U.S. industrial companies, compiled statistical information analyzing tool and die makers in 2017 to gain perspective on current industry trends and compare company performance across a spectrum of data points. This article will explore the tool and die industry as a whole, including regional differences within the United States.

U.S. tool & die manufacturing picks up steam

The U.S. Department of Labor's Bureau of Labor Statistics estimates the median annual wage for tool and die makers is around $51,000 per year - well above the average national wage. While no higher education degree is required to enter the field, most tool and die manufacturers undergo an extensive apprenticeship, learning their craft on the job. Some advance from CNC machine operators to CNC programmers and, eventually, into engineering as all three fields are related. The bureau also projects a 6 percent growth rate in this field in the coming years.

According to its most recent analysis, IndustryNet is tracking 2,108 tool and die companies nationwide with 36,965 jobs and over $2 billion in sales annually. Sales have increased in this sector over the past year by 2.68 percent. Two percent of tool and die companies report sales growth, compared with only one percent of manufacturing companies as a whole.

Midwest leads the nation in tool & die makingtoolman

Regionally, the Midwest is the place to be for tool and die manufacturers. It houses 57 percent of all tool and die companies in the nation. The Midwest also boasts the greatest percentage of tool and die makers, with 63 percent of all tool and die machinists living in that area.

Tool and die employment growth is the highest in the nation in the Midwest with 63.16 percent of new jobs created in the last year found in the region. The proliferation of companies and employees leaves the Midwest with the highest sales growth as well with 73 percent of new sales located in the heart of the country.

All of the other regions trail far behind the Midwest. The Northeast places second in three of the four categories with 19 percent of the nation's tool and die companies, 17 percent of the industry's employees, and 15 percent of the sales growth. It drops to third in employment growth, capturing only 16 percent versus the South at 18 percent.

The South finishes a solid third in the remaining three categories, though, with 17 percent of the nation's tool and die companies, 15 percent of the employees, and 8 percent of the industry's national sales growth. The West finishes last in all categories. It houses only 6 percent of all U.S. tool and die companies, employs 5 percent of all tool and die machinists, representing 3 percent of the industry's growth nationally, and a mere 3 percent of the sales growth.

For more information

IndustryNet is a single resource that connects industrial buyers with suppliers. To connect with tool and die makers near you, as well as with 400,000+ U.S. industrial suppliers, start your free search on IndustryNet. By employing IndustryNet's free tools to request quotes and information, you can be confident of making the best choice to fit your company's production needs. Join the thousands of companies that rely on IndustryNet to advertise their goods and services and to search for solid, accurate information on potential partners and providers.

Related posts:
5 pro tips on finding the right tool & die manufacturer for your business
Meet America's largest and fastest-growing tool & die makers

Want to keep up with the latest industrial procurement & sourcing trends and exclusive statistics from MNI? Industry professionals trust the free weekly IndustryNet Insider email as their go-to source for industrial news & statistics you can't find anywhere else. Subscribe here.




Get 500 FREE
Industrial Leads from
IndustrySelect!
Reach U.S. manufacturers, suppliers, and industrial service providers with B2B company data
IndustrySelect
Researched firsthand by real people for unparalleled accuracy and detail, trusted by over 50,000 professionals at small businesses to Fortune 500 companies
IndustrySelect is the Industrial Database
Sales • Marketing • Recruiting • Research
Check  Identify prospects by location, industry, size
Check  View complete company profiles
Check  Executive contact data with direct emails
Check  Get instant counts, build unlimited lists
Check  Export profiles to your CRM
Check  Locate top executives by name & title
Check  Collaborate with your sales team
Check  See parent company and family tree
Check  Discover a company's key competitors
Check  Uncover hidden prospects with Intent Data
Check  Clone your best customers Customer Match
Check  Pricing levels for all budgets
Check  Use on your PC, Mac, tablet, or smartphone
Get 500 FREE demo leads now!
A service of MNI
 Find a Supplier  About IndustryNet  Contact IndustryNet
 Get a Quote  Buyer Reviews  Link to IndustryNet
 IndustryNet Blog  Marketing Solutions  Terms of Use
 Create Free Account  Add or Upgrade Listing  Legal Information
 Account Log In  Browse All Categories  Privacy Policy
 ISO Standards & Certifications  Browse All Companies  Do Not Sell My Personal Information