According to the latest Fluid Power Industry Growth Trend report from the National Fluid Power Association (NFPA), average shipments for pneumatic, hydraulic and total fluid power components has seen a steady growth pattern. The growth rate has remained as such since February 2021.
Positive market trends in the many industries served by fluid power, including manufacturing and heavy-duty mobile equipment, have benefited the fluid power industry.
READ MORE: Fluid Power Market to Grow 7% in 2022
Recent figures according to NFPA's Fluid Power Industry Growth Trend:
The year-to-date percent change for total fluid power shipments in March 2022 is 14.9%. Mobile hydraulic orders received from April 2021 to March 2022 are currently 137.9% of the orders received from April 2020 to March 2021. When looking at raw index data, pneumatic, mobile hydraulic, and industrial hydraulic shipments all increased when compared to last month.
