The fifth Annual Report on the U.S. Fluid Power Industry was recently released on the NFPA website. Download and share it with your colleagues and customers today to get a quantified summary of the impact of the fluid power industry on the U.S. economy.
Fluid power is a workhorse across the U.S. economy and is used in dozens of industries and hundreds of applications. This new report outlines the thriving impact the fluid power industry has both domestically and worldwide in key areas like exports, employment, and more.
The information the report provides is useful to fluid power professionals, customers, and prospects alike. Key conclusions include:
- U.S. manufacturing of fluid power components reached a record-high of $23.5 billion in 2018.
- Fluid power exports continue to increase since recession-era lows, reaching customers around the globe.
- Fluid power has a major downstream economic impact. Ten key industries depend on fluid power, with an estimated 23,200 companies in the US, employing more than 778,056.
[button link=”https://www.nfpa.com/home/industry-stats/Annual-Report-on-US-Fluid-Power-Industry.htm” target=”blank” style=”primary”]Download the Report[/button]
The National Fluid Power Association (NFPA) has entered into a partnership agreement with UKI Media & Events to convene and co-locate an advanced hydraulics conference for off-highway vehicle and fluid power engineers at iVT EXPO, to be held August 21-22, 2024, in Chicago, IL. iVT EXPO is an annual exposition for the off-highway vehicle design…
There is still time to register for April’s Fluid Power Vehicle Challenge Final Competitions. We need industry attendees to judge all aspects of the final competitions: the races, final presentations and vehicle design reviews. Industry attendees also participate in exclusive networking opportunities to recruit the next generation of talented engineers. Please register by March 1st.…
A new series of quarterly forecast updates from Oxford Economics is now available on the NFPA website at Global Industry Forecasts. These reports cover the global economy, as well as regional and country developments, and some detailed global industry forecasts. Oxford predicts a slow first half of 2024 with US industrial output being particularly stagnate.…