kiplinger.com • Vol. 99, No. 15
Expect another year of robust machine tool orders, which will grow by 11.2%. That’s down from last year’s torrid 54.4% growth rate, but further extends the recovery from the pandemic-induced slump of 2020.
Sectors that will see the greatest increase in machine tool demand: Motor vehicles, bodies and trailers, plus parts. Computer and electronic products. Fabricated metal products. Electrical equipment, appliances and components.
Growth will slip into negative territory next year, before reaccelerating in subsequent years. Figure on a 3.0% decline in 2023 and a 3.1% rise in 2024. The struggle will be meeting demand amid ongoing supply chain issues.