Hydraulics

Fluid Power Shipments and Orders Trend Downwards in June 2024

Aug. 7, 2024

Data from the NFPA shows shipments and orders for fluid power products were down in June from previous months.

The National Fluid Power Association (NFPA) has released its order and shipment data for June 2024 which shows month-over-month and year-over-year decreases for hydraulics and pneumatics.

Per NFPA's data, June total fluid power shipments decreased 7.6% month-over-month and 16.4% year-over-year. Rates of change for total fluid power, hydraulic and pneumatic shipments were all in negative territory as well and appear to be on a downward trend.

This is in line with data presented by Jim Meil, Principal, Industry Analysis at ACT Research during the NFPA's spring economic webinar. After a period of several ups and downs caused in part by the COVID-19 pandemic, he said the economy is settling a bit which is causing slower growth trends for many markets including fluid power and most of its customer sectors.

High interest rates are a factor as well. Meil and many other economists are projecting improved economic conditions once the U.S. Federal Reserve begins to lower rates; recent news reports indicate this could begin as soon as September. Several market reports indicate 2025 and the remainder of the decade should trend more positively, aided by lowering interest rates and continued investments in infrastructure, manufacturing and other sectors.

In this media gallery you'll find charts showing the current trend lines for fluid power shipments and orders and how they compare with previous years.

The charts in this media gallery are supplied by NFPA and drawn from data collected from more than 70 manufacturers of fluid power products by NFPA’s Confidential Shipment Statistics (CSS) program.

About the Author

Sara Jensen | Executive Editor, Power & Motion

Sara Jensen is executive editor of Power & Motion, directing expanded coverage into the modern fluid power space, as well as mechatronic and smart technologies. She has over 15 years of publishing experience. Prior to Power & Motion she spent 11 years with a trade publication for engineers of heavy-duty equipment, the last 3 of which were as the editor and brand lead. Over the course of her time in the B2B industry, Sara has gained an extensive knowledge of various heavy-duty equipment industries — including construction, agriculture, mining and on-road trucks —along with the systems and market trends which impact them such as fluid power and electronic motion control technologies.

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