16 Countries Present Fluid Power Market Trends at Fluid Power Summit

Fluid power-focused organizations from across the globe came together in late April for the virtually held Fluid Power Summit, hosted by the VDMA. Twenty-seven representatives from 16 countries – Belgium, Finland, France, Germany, India, Italy, Japan, the Netherlands, Poland, Spain, Sweden, Switzerland, Taiwan, Turkey, United Kingdom, and the United States – participated and shared information on fluid power and economic trends in their home markets.

Highlights from NFPA’s presentation on the U.S. include:

  • Production of non-aerospace hydraulic products in the U.S. during 2020 is estimated to be $9.2 billion dollars, while production of non-aerospace pneumatic products in the U.S. during 2020 is estimated to be $2.7 billion dollars.
  • U.S. fluid power shipments decreased 17.3% in 2020, following another decrease of 5.9% in 2019. This decline has been mainly attributed to unfavorable economic conditions surrounding the COVID-19 pandemic and uncertainty in foreign trade policies/tariffs.
  • U.S. hydraulic shipments decreased 20.2% in 2020, following another decrease of 7.1% in 2019, while U.S. pneumatic shipments decreased 8.2% in 2020, following another decrease of 4.0% in 2019.
  • U.S. fluid power product exports dropped 14.3% in 2020, a decline of nearly one billion dollars since 2019, while U.S. fluid power product imports fell 16.9% in 2020, declining one and half billion dollars since 2019.

Explore the presentations from the event at the links below:

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