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 2019 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 report serves as a tool that members can use to promote the fluid power industry to external stakeholders—customers, users, government officials, the public at-large—anyone who doesn’t know as much as they should about fluid power and the industry that represents it.
Key conclusions include:
In 2019, the manufacture of fluid power components was a $22 billion industry in the United States. It was also competitive worldwide, with 2019 exports valued at $6.6 billion.
It is estimated that 777 companies in the United States employ more than 66,875 people in the manufacture of fluid power components, representing an annual payroll of more than $4.2 billion.
Fluid power has a major downstream economic impact. Ten key industries that depend on fluid power represent $648 billion in the U.S. economy. It is estimated that those industries represent 21,189 companies in the United States, employing more than 920,340 people for an annual payroll of more than $55.6 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 middle schools, high schools, technical colleges, and universities are teaching fluid power than ever before.
Fluid power technology continues to advance to better meet the needs of its diverse customer base. Product development is supported by a growing research community that helps to bring new technologies to the marketplace.
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.