---
title: Oxford Economics Spring Fluid Power Forecast Out Now
description: Discover Oxford Economics' Spring Fluid Power Forecast, covering global industry trends, market analysis, and the impact of tariffs on industrial production through 2025.
---

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# [Oxford Economics Spring Fluid Power Forecast Out Now](https://www.nfpa.com/news/oxford-economics-spring-fluid-power-forecast-out-now)

 Written by [Cecilia Bart](https://www.nfpa.com/news/author/cecilia-bart) | Apr 9, '25

**Global Fluid Power Report and Forecast**   

Includes a global macro summary, by-country customer market forecast & analysis, as well as by-country **fluid power** industry forecasts. Countries covered in the report: US, Canada, Mexico, Brazil Poland, Netherlands, Italy, Germany, France, Belgium, UK, Russia, Taiwan, South Korea, Japan, Indonesia, India, China, Australia, UAE, and South Africa.    

**Oxford Economics released the following summary of updates with the latest forecast** **release:** 

- Following a strong end to 2024 and despite world GDP surpassing our expectations, we have revised our 2025 outlook down marginally to a 2.6% expansion. The trade war has escalated, with Trump implementing various tariffs and delaying others. Many of these, including 25% US tariffs on Canadian and Mexican imports, as well as 10% blanket tariffs on EU imports and EU retaliation, are already factored into our baseline. The impact of these tariffs goes beyond rising inflation and reduced demand, as firms, households, and policymakers face extreme economic uncertainty, which is weighing on sentiment.  In Europe, the economic recovery remains delayed despite two rate cuts expected in April and June. As tariffs continue to affect business decisions and growth, European governments’ pursuit of fiscal consolidation will also limit recovery.    

- Similarly, we have revised down our 2025 industrial production forecast to approximately to 2.6%. Tariffs will curb industrial output by raising import costs, disrupting supply chains, and deterring investment. North American industry will be hit hardest, though the US is partly insulated by its large domestic market. The main US impact will stem from slower rate cuts and delayed corporate investment amid uncertainty. The outlook is gloomy in Europe too, as an industrial production recovery is no longer anticipated in 2025 as industry suffers from weak domestic demand amidst structural challenges, such as the erosion of EU competitiveness, itself a byproduct of rising Chinese competition. More positively, geopolitical realties have encouraged a surge in defence spending, which will stimulate some industrial sectors in the medium term. 

Global Fluid Power Report and Forecast can be accessed at this link: [https://www.nfpa.com/global-forecast-oxford-economics](https://www.nfpa.com/global-forecast-oxford-economics) 

The snapshot below from the NFPA [Stats Dashboard](https://www.nfpa.com/statsdashboard) provides a quick look at Oxford’s Fluid Power growth forecast for the United States and a few other countries. Please contact Cecilia Bart at [cbart@nfpa.com](mailto:cbart@nfpa.com) with any questions.

[View full post](https://www.nfpa.com/news/oxford-economics-spring-fluid-power-forecast-out-now)

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