According to the latest data from the National Fluid Power Association (NFPA), total fluid power shipments declined a few percentage points in December 2022.
The year-to-date percent change for total fluid power shipments dipped 0.3%; in December the percent change was 16.6% while in November 2022 it was reported at 16.9%. However, NFPA reports the 12-month moving average for shipments of pneumatics, hydraulics and total fluid power remain on a growth trend, demonstrating the continued strength of the industry.
Orders received from January 2022 to December 2022 for mobile hydraulics stand at 103.4% of those received during the previous period (January 2021 to December 2021). In November, mobile hydraulic orders reached 104.2% which was a slight decline from those received through October 2022. The mobile equipment market continues to see strong demand for machinery, but like many markets is experiencing supply chain and workforce challenges which are impacting the market and suppliers such as hydraulic component manufacturers.
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NFPA reports raw index data showed a decrease in shipments for pneumatic and mobile hydraulics in December, but industrial hydraulic shipments saw a slight increase compared to the previous month.
The above charts are supplied by NFPA and drawn from data collected from more than 80 manufacturers of fluid power products by NFPA’s Confidential Shipment Statistics (CSS) program.
