It might come as a surprise to most people that America has a vibrant tool manufacturing industry. Over the five years leading up to 2021, the power tool manufacturing industry has experienced a considerable increase in growth and revenue. This growth and increase in revenue are probably due to the increase in consumer spending. Most consumers are starting to invest in large home improvement and construction projects that require power tools. This is expected to cause an increase in demand for residential and non-residential construction customers. As a result, the demand for power tools is likely going to increase as well.
Apart from the local market, you will also find that a good percentage of the commercial-grade power tools that are manufactured in America find their way out of the country. This is not surprising as America has some of the best power tool supplies in the world. As a result, several American brands can be found in any best tools shop around the world. You can also find that American power tools are among the best price tools online. Because of all this demand, the power tool industry can be expected to keep growing so it can meet the needs of consumers locally and abroad.
Over the last 35 years around 70% of United States manufacturing jobs have been lost to overseas manufacturing companies. So you would probably be surprised to know that the top five U.S. industrial tools supply companies generate approximately $55 billion dollars per year.
Of course, not all of mill cutters, aluminum cutters, HSK tool holders, ball end mills, and other precision cutting tools that the leading U.S. industrial tool companies distribute end up with U.S. companies. This is because the quality of American-made tools is well-known and respected all around the world.
When you consider how many U.S. manufacturing jobs have been outsourced to overseas companies over the last few decades, the thought of foreign manufacturing companies using American-made precision cutting tools is ironic, indeed. But it also goes to show that the United States still knows a quite a bit about producing both high-quality industrial and consumer goods. After all, it was not a lack of quality that sent American manufacturing jobs overseas, but the increasing cost of production.
While it would be nice if more manufacturing jobs could be brought back to the United States, at least Americans can still take comfort in the fact that American factory workers are still as capable as ever at turning out world-class products. Perhaps there will one day be a policy that will bring factory jobs back to American shores, but until that happens, U.S. factory workers can at least continue to prove that American-made quality is no myth.