Stats Fact of the Week: Week of October 15, 2018
Understanding the consumption of U.S. fluid power products is not only necessary step to determine U.S. demand for fluid power products, but also helpful to predict future demand of your company’s products. In the U.S., production and total sales are two of the most common measurements for fluid power product market size, while overseas (most commonly in Europe) consumption or home sales are the most common measurements of market size.
NFPA’s Confidential Shipment Statistics (CSS) contains the three major components that are needed to calculate U.S. consumption, which are U.S. production, U.S. exports, and U.S. imports. The formula is:
U.S. Consumption = U.S. Production – U.S. Exports + U.S. Imports
The chart above highlights the monthly 2018 U.S. consumption of fluid power products. Participants in NFPA’s CSS program receive the three necessary components for calculating U.S. fluid power product consumption by both market segment and product segment, which in turn can help them predict the demand for their company’s products. The program is also the only monthly source of aggregated industry data for the U.S. fluid power industry and is the association’s primary resource for identifying industry trends and benchmarking company performance. For more information and to enroll, please CLICK HERE.
Questions? Please contact Eric Armstrong, NFPA’s Economic and Statistical Programs Manager, at firstname.lastname@example.org or (414) 778-3372.