What markets for precision machined parts are likely to grow? Which are stagnant? Are North American producers always more expensive than foreign sources? Which customer trends are likely to influence your machining business in the years ahead?
These questions, and many others, are answered in PMPA’s newest “Business Intelligence Report: Trends in Markets for Precision Machined Products.” The PMPA Marketing Committee commissioned market research firm Kleinhenz & Associates to work with members of PMPA’s staff to explore the trends that would affect the industry in the near future.
There were two primary objectives. The first was to identify the key trends in customer procurement of precision machined parts through direct contact with senior-level purchasing executives and supply chain managers from major OEMs. The second objective was to provide PMPA member companies with industry data and business intelligence to help them better address the new realities of the marketplace. In addition, this report contains compiled statistical data using secondary research sources to provide answers about trends in specific customer sectors.
The report is divided into three sections. The first section summarizes key findings from interviews with customers of the precision machining industry. The second reports historical and forecast data for both the precision machined products industry and its customers. The final section discusses conclusions and implications regarding market developments and provides actions for precision machining firms to consider.
What are the five benefits that customers named when dealing with North American machined parts producers? You’ll find those answers in the section titled, “Offshore vs. North America.” Have the increased sales of the precision machining industry been driven by greater productivity, higher material prices, or both? You’ll see the actual numbers in the section titled “Precision Machined Products Industry Overview.”
Which customer industries do the figures show growing the most from 2008 to 2012? See “Figure 1—Value-Added for Precision Machined Products Association Customers, 1998-2012.” How does the precision machining industry compare with its customers in terms of production efficiency? (Hint: Not badly at all, except for one.)
A brief market research summary is included for each of the important customer sectors tracked by this report. The report has already been sent to PMPA member companies. If you are not a PMPA member and would like to see the report, go to www.pmpa.org for information on how you can obtain a copy.
The PMPA’s vision is to provide its members with services and information like this to advance the global competitiveness and sustainability of those members. If this is the kind of information that you believe would help your company to become more competitive and sustainable in today’s ever-changing customer and global markets, you should consider becoming a member of the PMPA. To join, or for more information on becoming a member, visit www.pmpa.org/join/.