In the most recent edition of NFPA’s Confidential Shipment Statistics (CSS), members collectively reported the highest value of shipments and orders in the history of the program. Seasonally, March is the strongest month of the year which plays a part in the high numbers. However, despite lingering supply chain problems, fluid power shipments and orders hit an all-time high.
Here is the latest update:
Base Year 2018 = 100. All data non-seasonally adjusted and not adjusted for inflation
The latest point in each graph represents data for March 2022.
How Does Fluid Power Compare?
Fluid Power was not alone in reporting highs for shipments and orders. We can look to the U.S. Census Bureau’s M3 report detailing value of shipments and orders for many different manufacturing markets. In March, shipments hit an all-time high in these popular fluid power markets:
- Automobile, Light Truck, and Utility Vehicle
- Heavy Duty Truck
- Construction Machinery
- Material Handling Equipment
- Chemical Products
- Durable Goods Shipments
This data can be found in NFPA’s Customer Market File (CMF): Download CMF
Will This Momentum Continue?
In ITR’s latest fluid power forecast report, they predict NFPA’s fluid power shipments index will end 2022 up 7.0% over 2021. Year-to-date 2022 shipments are up 14.9% over the same time period last year. We can expect shipments to continue to increase, but at a decreasing rate for the remainder of 2022.
This holiday season, we are thankful for each of our members. All your staff at NFPA want to thank you for all of the efforts that you have put in to help grow the fluid power industry. We couldn’t fulfill our mission without your dedication and support. Enjoy this time off with your loved ones,…
Doug is the Application Engineering Supervisor for HAWE North America, a manufacturer of hydraulic power units, pumps, valves and cylinders. HAWE will be showcasing their water resistant hydraulics that help deliver power to speed boats at IFPE – the International Fluid Power Exposition — and we invited Doug into our forum to learn more about…