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.
NFPA supports student organizations at universities with annual stipend funding to help students learn about fluid power while they work on educational and technical projects. Currently for the 2023-24 academic year, there are 19 universities from across the country participating: If you are looking to get involved with these Fluid Power Clubs, see below for…
Mark your calendars for the NFPA Fluid Power Vehicle Challenge Design and Specification Midway Reviews, happening in December and January. This is a fantastic opportunity for industry members to get engaged and connect with students. The reviews are 45-minute webinar presentations with 10 minutes of Q&A from the judges. During this review, students will showcase…