The State of Fluid Power Industry Employment

The fluid power industry, as reported by the National Fluid Power Association, stands as a vital contributor to our economy, employing a workforce of 64,000 individuals and boasting an annual payroll of $4.4 billion. This dynamic sector provides essential solutions to various industries that heavily rely on fluid power, encompassing over 800,000 employees and a staggering annual payroll of $60 billion. 

Looking ahead, the general fluid power industry is projected to experience a modest, yet steady growth of 3% in 2023. Notably, the Hydraulics and Mobile Hydraulics segments show the most promising potential, with the agricultural equipment and light and heavy-duty vehicles sectors leading the way, expected to achieve an impressive 7% growth in the coming year. 

Recent developments in the fluid power industry were showcased at the IFPE event held in Las Vegas. Hundreds of manufacturers seized the opportunity to present their cutting-edge technologies, while professionals and experts congregated for enlightening educational sessions exclusively focused on the realm of fluid power. The exhibition proved to be a platform of innovation, with groundbreaking technologies unveiled and knowledge shared.

However, amidst all the excitement, a pressing question loomed large over the entire exposition: How will the industry secure the nearly 4 million skilled professionals required to fill positions directly related to fluid power or within industries dependent on it? This very question is the driving force behind our belief in the robust and enduring employment outlook for this industry, which we expect to thrive well into 2030. 

Fortunately, embarking on a career in the hydraulics industry does not demand extensive educational prerequisites. A high school diploma or graduation from a vocational school serves as the minimum requirement for becoming a technician in this field. Pursuing such a career path can earn an entry-level technician an average salary of $40,000. Moreover, many companies offer attractive sign-on bonuses, often exceeding $2,500, as an added incentive to join their workforce. 

By presenting these statistics and insights, we can paint a more vivid picture of the state of the fluid power industry’s employment landscape. It becomes evident that this dynamic sector not only sustains a significant number of individuals, but also provides enticing opportunities for aspiring professionals looking to make their mark in a vibrant and rewarding field.