Q4 2023 ITR Forecast Report Now Available

ITR’s Q4 2023 U.S. Customer Markets Forecast Report is now available. This report forecasts over 30 different popular fluid power markets. Identify which phase of the business cycle a market is in and where it is headed in the future. Forecasts for fluid power, pneumatics, and hydraulics have been updated. Highlights include:

  • Total Hydraulic Shipments index is currently in phase C, slowing growth, and the forecast for the balance of  2023 remains unchanged.  2024 looks rough with a forecasted decline of -11% compared to 2023.
  • Construction machinery is projected to decline 13.1% next year, pulling downward on expectations for hydraulics. 
  • Pneumatic Shipments index is currently in phase C, slowing growth, but is now expected to finish 2023 up 5.3% over 2022.  The trend is downward for 2024, with expected decline of 5.9% versus 2023.
  • Looking for a bright spot in 2024?  Farm Machinery shipments will be flat.  Power Gen, Oil & Gas, Electrical Components sectors are all positive for 2024 and in Phase B Accelerating Growth. 

If you have any questions about interpreting or using the data in this report, please contact Pete Alles at palles@nfpa.com.

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