The National Fluid Power Association's (NFPA) recent data for fluid power industry growth trends shows orders and shipments were positive again in August 2022. NFPA reports the 12-month moving average continued on its growth trend for pneumatics, hydraulics and total fluid power.
Per NFPA, the year-to-date percent change for total fluid power shipments in August 2022 is 16.4%. This is a slight increase from July's percentage of 15.2%.
Orders for mobile hydraulic components received from September 2021 to August 2022 are at 113.1% of those received during the previous period (September 2020 to August 2021). The mobile hydraulics market continues to show positivity as demand for the heavy-duty machines in which these components are used, such as construction equipment, also remain positive.
READ MORE: Mobile Hydraulics Market Rebound in 2021 Leads to Positive Future
After a slight decline in July, NFPA reports the raw index data shows an increase for pneumatic, mobile and industrial hydraulic shipments in August, again demonstrating the continued positivity within the fluid power market. Many of the industries served by hydraulics and pneumatics — such as manufacturing, heavy equipment and automotive — are forecast to grow in the coming quarters, although possibly at a slower pace than the previous year, benefiting the fluid power industry.
The above charts provided by NFPA are drawn from data collected from more than 80 manufacturers of fluid power products by NFPA’s Confidential Shipment Statistics (CSS) program. Much more information is available to NFPA members, which allows them to better understand trends and anticipate change in their market and the customer markets they serve. Contact NFPA at 414-778-3344 for more info.
