Despite Automotive Uncertainty, Harbour Results is ‘Bullish’ on Tooling Future

A new forecast sees optimism for the North American automotive tooling, with OEMs continuing to spend on new programs throughout the rest of the decade. With labor strife as a backdrop, MetalForming in late October attended the Automotive Tooling Outlook, presented by Harbour Results Inc. at a MEMA-The Vehicle Suppliers Association conference and then in a Harbour Results webcast. In a word, Laurie Harbour, president and CEO of Harbour Results, is “bullish” on tool spend.

The current Harbour Results amended forecast sees North American die and mold spend for automotive totaling $5.1 billion in 2023, $7.4 billion in 2024, $6.2 billion in 2025 and $6.3 billion in 2026. New launches will drive tooling demand, with 47 launches planned for 2023, 64 for 2024, 48 for 2025 and 63 for 2026, according to Harbour.

“OEMs will conduct product development next year for vehicles that come out in 2025-2027, when the economy should return to a level of robustness,” she says. 

Also, battery electric vehicles (BEVs) will make an increasing impact, Harbour reports, though she envisions some program delays.