Q4 2024 ITR Forecast Report Now Available

ITR’s Q4 2024 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: 

  • NFPA Total Shipments index remains in phase D, recession, and the forecast for the balance of 2024 has been adjusted down to -7.6% from the previously forecasted -2.6%. Additionally, their previous report’s predicted growth expectation of 7.0% for 2025 has decreased to 6.0%. 
  • Construction Machinery Production is currently in phase A, recovery, and is expected to conclude 2024 at -3.2%. When examining the NFPA Markets table on page 10 of the report, US Construction Machinery Production is not expected to break into phase B, accelerating growth, until 2026.  
  • ITR Economics notes several economic opportunities and risks for NFPA members. For example, the utilities industry showing promise for growth as electrical grids are expected to increase in demand to support new datacenters and electric vehicles. US inflation, on the other hand, is showing signs of picking up again in the latter half of 2025 and 2026, producing a margin squeeze for NFPA members. 

If you have any questions about interpreting or using the data in this report, please contact Cecilia Bart at cbart@nfpa.com

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