NFPA’s Forecast Report: U.S. Customer Markets by ITR includes an annual outlook with phase identifiers for the current year and next two years ahead for 30 of fluid power’s most popular customer markets, as well as hydraulics, pneumatics and the overall fluid power industry. Highlights from the Q4 report include:
- Economic opportunities for NFPA members:
- 15 of the 30 key markets currently are in the accelerating growth phase, led by material handling and heavy trucks
- U.S. logging/wood production forecast for the next 12 quarters
- Industrial and retail sector growth including oil and gas industry predictions
- Economic risks for NFPA members:
- 6 of 30 markets are in the slowing growth phase, including construction machinery and light vehicles
- Semiconductor shortages and their continuing impact on automotive plants and light vehicle/heavy duty truck production
- U.S. farm and machinery challenges in the coming months as a result of drought and labor shortages
- Hindered rise of U.S. medical equipment and supplies production in the coming months due to COVID-19’s impact on elective surgeries.
- Management objectives to address opportunities and risks including investment strategies and preparation for an upcoming rise in economic activity
New to NFPA’s Market Information site is our Business Intelligence resource section. This content is an effort to bring valuable information to decision-makers on emerging issues for which formal data programs don’t currently exist. Information is drawn largely from surveys of members but may also include other sources such as relevant weblinks or related 3rd party white papers and survey reports. Survey results currently available to NFPA members include:
- Retaining, Recruiting and Compensating 2021 (October 2021)
- Current Challenges Facing Fluid Power Companies (July 2021)
- Cybersecurity: Threats and Responses (May 2021)
- Survey of Workplace Status: In-Person vs. Remote Work (March 2021)
If you are interested in participating in upcoming surveys, please contact Pete Alles at (414) 778-3350 or palles@nfpa.com.
Like this post? Share it!
Recent Posts
Fluid Power and the Drive Towards Performance and Productivity – Technology Conference Registration Now Open
June 6, 2024 | 9:00am– 11:10am* (Central)Virtual Delivery Registration is now open for the June NFPA Technology Conference. The upcoming conference will take place June 6, 2024 and will be held jointly with FPIC. The conference focus is “Fluid Power and the Drive Towards Performance and Productivity.” Presentations will be broadcast virtually over Remo. Sessions…
Northern Illinois University and Kennesaw State University are FPVC Grand Champions
Northern Illinois University and Kennesaw State University were named Grand Champions at the 2024 Fluid Power Vehicle Challenge Final Competitions held in April and hosted by Danfoss Power Solutions in Ames, IA and Norgren in Littleton, CO. Twenty-two schools competed in four races judged by fluid power industry professionals. In addition to the races, students…
Join Us on May 9 for an Economic Update with Jim Meil
Seats are still available for the May 9th Economic Update Event featuring Jim Meil of ACT Research. He has been recognized as a leading industrial sector economist and planner for over 30 years. Join NFPA and Jim Meil for this virtual update to see the current and upcoming trends that will impact your business. For…