Fluid Power Industry Growth Trend
The latest data published by the National Fluid Power Association shows the 12 month moving average of shipments for hydraulic and total fluid power plateau while pneumatic continues to increase. The year-to-date % change (2032 vs. 2022) for total fluid power shipments in May 2023 is 8.7%. Mobile hydraulic orders received from June 2022 to May 2023 are currently 93.5% of the orders received from July 2021 to June 2022. When looking at raw index data, pneumatic, mobile hydraulic, and industrial hydraulic shipments decreased when compared to last month. These charts are drawn from data collected from more than 70 manufacturers of fluid power products by NFPA’s Confidential Shipment Statistics (CSS) program.
Hydraulic and Pneumatic Shipments
Raw Index Data, Index: 2018=100
This graph of raw index data is generated by the total dollar volume reported to NFPA by CSS participants and compared to the average monthly dollar volume in 2018. For example, the June 2023 total dollar volume for pneumatic shipments is 123.0% of the average monthly dollar volume in 2018. (Base Year 2018 = 100)
Pneumatic, Mobile, and Industrial Hydraulic Orders 12/12 Ratio
Each point on this graph represents the most recent 12 months of orders compared to the previous 12 months of orders. Each point can be read as a percentage. For example, 109.9 (the June 2023 level of the industrial hydraulic series) indicates that industrial hydraulic orders received from July 2022 to June 2023 were 109.9% of the orders received from July 2021 to June 2022. (Base Year 2018 = 100)
Total – Hydraulic and Pneumatic Shipments 12 Month Moving Average
Each point in this graph represents the average index for the 12 most recent months of shipments. Moving averages help clearly identify trends. (Base Year 2018 = 100)
Shipments – Cumulative year‐to‐date % change (2023 vs. 2022)
The table above is expressed in terms of cumulative percent changes. These changes refer to the percent difference between the relevant cumulative total for 2023 and the total for the same months in 2022. For example, June 2023 pneumatic shipments figure of 7.7 means that for the calendar year through June 2023, pneumatic shipments increased 7.7% compared to the same time-period in 2022.
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