The National Fluid Power Association (NFPA) has released its most recent data on shipments and orders for fluid power components. According to the association's 12-month moving average, shipments for pneumatics, hydraulics, and total fluid power are growing once again after reaching a plateau in April.
NFPA reports the year-to-date percent change for total fluid power shipments remained at 10.7% in May 2023. This is a slight decline from March's percent change of13.6%, but the same as April which shows the declines that started at the beginning of the year may be subsiding.
Mobile hydraulic orders also demonstrate potential positivity in the market. Orders received from June 2022 to May 2023 are currently 95.8% of the orders received from June 2021 to May 2022, only a slight decline from the 97.4% reported for May 2022 to April 2023.
Raw index data for pneumatic, mobile hydraulic and industrial hydraulic components and systems shows shipments increased in May 2023 compared to the previous month.
The above charts are supplied by NFPA and drawn from data collected from more than 70 manufacturers of fluid power products by NFPA’s Confidential Shipment Statistics (CSS) program.