ITR’s Q4 2023 U.S. Customer Markets Forecast Report is now available. This report forecasts over 30 different popular fluid power markets. Identify which phase of the business cycle a market is in and where it is headed in the future. Forecasts for fluid power, pneumatics, and hydraulics have been updated. Highlights include:
- Total Hydraulic Shipments index is currently in phase C, slowing growth, and the forecast for the balance of 2023 remains unchanged. 2024 looks rough with a forecasted decline of -11% compared to 2023.
- Construction machinery is projected to decline 13.1% next year, pulling downward on expectations for hydraulics.
- Pneumatic Shipments index is currently in phase C, slowing growth, but is now expected to finish 2023 up 5.3% over 2022. The trend is downward for 2024, with expected decline of 5.9% versus 2023.
- Looking for a bright spot in 2024? Farm Machinery shipments will be flat. Power Gen, Oil & Gas, Electrical Components sectors are all positive for 2024 and in Phase B Accelerating Growth.
If you have any questions about interpreting or using the data in this report, please contact Pete Alles at palles@nfpa.com.
Like this post? Share it!
Recent Posts
Reserve Your Spot at the 2024 IEOC Lunch Tabletop Exhibition!
August 13–14, 2024The Westin Chicago Northwest, Itasca, ILLearn More | Register Get your business in front of attendees at 2024 Industry & Economic Outlook Conference (IEOC) via the new Lunch Tabletop Exhibition! For $2000*, each participating company will receive an 8-foot, black clothed table with two chairs in the location during the networking lunch break on Tuesday,…
Oxford Reports Updated: Fluid Power Forecast, By Country Briefings and Forecasts, and Monthly Industry Briefings
Global Fluid Power Report and Forecast Includes a global macro summary, by-country customer market forecast & analysis, as well as by-country fluid power industry forecasts. Countries covered in the report: US, Canada, Mexico, Brazil Poland, Netherlands, Italy, Germany, France, Belgium, UK, Russia, Taiwan, South Korea, Japan, Indonesia, India, China, Australia, UAE, and South Africa. Insights include: By Country Briefings…
NAM Regulatory Update: Q&A – The Looming 2025 Tax Challenge
As part of an effort to bring more information about the regulatory and legal environment facing American manufacturers, NFPA is monitoring the newsfeed of the National Association of Manufacturers (NAM) and will be bringing important updates like this to the attention of NFPA members. The NAM recently launched “Manufacturing Wins,” the manufacturing industry’s campaign to…