Once again data from the National Fluid Power Association (NFPA) showed a growth trend for the 12-month moving average of shipments of pneumatics, hydraulics and total fluid power in October 2022.
The association reports year-to-date percent change for total fluid power shipments were up 17.5% in October; this was a slight increase over the previous month which came in at 17.2%.
When looking at specific fluid power types, mobile hydraulic orders received between November 2021 and October 2022 came in 104.6% above those received during the previous period (November 2020 to October 2021). Raw index data shows pneumatic and mobile hydraulic shipments increased in October but those for industrial hydraulics decreased compared from September.
READ MORE - 2023 Fluid Power Market Outlook: Slowing Growth Cycle Ahead
The above charts provided by NFPA are drawn from data collected from more than 80 manufacturers of fluid power products by NFPA’s Confidential Shipment Statistics (CSS) program. Much more information is available to NFPA members, which allows them to better understand trends and anticipate change in their market and the customer markets they serve. Contact NFPA at 414-778-3344 for more info.
