Annual Report on the U.S. Fluid Power Industry
Fluid power is a workhorse of the U.S. economy—a cross-cutting technology of choice for dozens of industries and hundreds of applications. That’s one of the many conclusions in the 2018 Annual Report on the U.S. Fluid Power Industry, published by the National Fluid Power Association. The report reviews both the size and economic impact of the industry, as well as explores the energy consumption, best practices and current R&D directions of fluid power technology.
The information provided in the report is useful to people in and out of the fluid power industry. Contrary to what you might have heard, fluid power is a modern and thriving technology.
Key conclusions include:
- In 2018, the manufacture of fluid power components was a $23.5 billion industry in the United States. It was also competitive worldwide with 2018 exports valued at $6.5 billion.
- It is estimated that 862 companies in the United States employ more than 67,149 people in the manufacture of fluid power components, representing an annual payroll of more than $4.3 billion.
- Fluid power has a major downstream economic impact. Ten key industries that depend on fluid power include an estimated 23,200 companies in the United States, employing more than 778,056 people for an annual payroll of more than $49.5 billion.
- Fluid power and the industries it serves depend on a highly educated workforce, leading to investment in new fluid power education and training resources. More two-year and four-year colleges are teaching fluid power.
- Fluid power systems consume a major portion of our nation's energy. Existing technologies and best practices have been shown to reduce energy use in some fluid power systems by 30% or more.
- The fluid power industry is identifying and addressing key research challenges to continue meeting the needs of its diverse customer base.
- Fluid power has an active industry/academic coalition that focuses on these key research challenges. Significant industry and government resources support this important cause.
- And many more...
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Request a Presentation
Did you know you can request a custom presentation specific to your company?
Using the information that is summarized in the report, you can request additional information on a variety of topics such as:
- Workforce and Fluid Power Education/Training
- Hydraulic and/or Pneumatic US Markets
- Energy and Efficiency Systems
- Research and Development
- Technology Roadmap for the Fluid Power Industry
NFPA President and CEO Eric Lanke, is available to attend your company meetings to expand on these topics and many more.