The National Fluid Power Association (NFPA) has published its latest data for the fluid power market. The 12-month moving average for shipments of pneumatic, hydraulic and total fluid power components continues to show a growth trend.
According to the NFPA, there has been a steady rate of growth since February 2021. However, the market is shifting to a slowing growth rate.
Total fluid power shipments in April 2022 showed a 13.6% year-to-date percent change. Orders for mobile hydraulic components from May 2021 to April 2022 is 129.2% of those received from May 2020 to April 2021. In NFPA's prior report, orders received from April 2021 to March 2022 were 137.9% of those from the previous period.
Shipments for pneumatic and mobile and industrial hydraulics declined in April compared to the previous month when looking at the raw index data, states NFPA in its latest data report.
