The sixth Annual Report on the U.S. Fluid Power Industry has just been released on the NFPA website.
This new report outlines the impact the fluid power industry has worldwide and is a tool that members can use to promote the fluid power industry to external stakeholders—customers, users, government officials, the public at-large—anyone who doesn’t know as much as they should about fluid power and the industry that represents it.
Key conclusions from the report include:
- In 2019, the manufacture of fluid power components was a $22 billion industry in the United States.
- Many key industries depend on fluid power. Ten of the largest include an estimated 21,189 companies in the US, and employ more than 920,340.
- The fluid power industry is building for the future, with more than 588 schools in the NFPA Educator Network and over $50 million in federal research grants focused on fluid power technology.