Tooling Market Worth $368.5 Billion in 2026 : Tooling is the process of producing or acquiring the manufacturing components required for bulk production of parts used in bigger machines such as automobiles, trucks, heavy engineering components, and others. It includes production of molds and dies (presses), forging, gauging, jigs & fixtures, and cutting tools for the manufacturing of different components such as automotive parts, turbines, propellers, plastic components, and many others.
According to a new report published by Allied Market Research, titled, “Tooling Market by Type and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global tooling market size is expected to reach $368.5 billion in 2026, from $200.8 billion in 2018, growing at a CAGR of 8.0% from 2019 to 2026. In 2018, dies & molds dominated the market, in terms of revenue, accounting for over 36.8% share of the global tooling market.
The designing and manufacturing of these tools directly affects the production quality of the end-user industry. Moreover, every manufacturing company requires tooling to conduct the production process of parts manufactured for assembling the machine; therefore, the tooling industry is termed as the backbone of the manufacturing industry.
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