Fluid Power Shipments Remain on a Decline
Total fluid power shipments decreased 9.4% in September 2024 compared to the previous month according to the latest data published by the National Fluid Power Association (NFPA). Shipments were also 13.2% below those in September 2023.
This data is not surprising given the more difficult market conditions faced by the hydraulics and pneumatics industry, as well as its various customer markets, in 2024. High interest rates and inventory levels as well as uncertainty about the global economy and geopolitical landscape have all contributed to the down market according to discussion's Power & Motion has had with fluid power executives.
Read Power & Motion's recent state of the industry interviews with Bailey Group, SMC Corp. and Danfoss Power Solutions to hear these companies' take on current fluid power market conditions.
Per NFPA, the 3/12 and 12/12 rates of change for total fluid power, hydraulic, and pneumatic shipments are negative and trending downward.
However, with interest rates lowering and many starting to work through their inventory there is hope for improved market conditions in the coming year. Interact Analysis is projecting the global mobile hydraulics segment will return to growth in 2025 due to an easing of these factors which will lead to increased demand for machines and components. The same is projected for the manufacturing sector as well, benefiting both hydraulics and pneumatics.
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.
