The National Fluid Power Association's (NFPA) annual Industry & Economic Outlook Conference (IEOC) is set to take place Aug. 16-17, 2022 in Itasca, Ill. Once again the event will provide economic insights into the various markets which the fluid power industry serves. And with supply chains, inflation and global events continuing to impact many industries, information presented at the 2022 event will be of particular value to attendees.
Registration is open to anyone working within the fluid power supply chain, whether or not they are a member of NFPA. The hotel block at The Westin Chicago Northwest—the location for the event—closes July 25.
According to NFPA, there is a high number of already registered attendees and high expectations for the 2022 event.
In addition to the conference presentations, various networking opportunities will also be held during the IEOC. Among them:
- NFPA Foundation Golf Fundraiser,
- Future Leaders Network activities,
- networking receptions and meals,
- committee meetings, and
- Power of Association Networking Reception and Dinner.
Market Insights to Aid Future Business Planning
According to the NFPA, the top 5 reasons to attend the IEOC are:
- Industry Projections
- Global Economics
- Technology & Business Information
- Strategic Planning Solutions.
The economic forecasts and market outlooks provided by top economists are a major draw for the IEOC. With the insights offered during the event, those working in the fluid power industry can better determine their business plans.
Well-known economists and industry analysts will present during the conference. Among them will be Alan Beaulieu of ITR Economics who is scheduled to provide an outlook on the U.S. market and its impact on the global economy. NFPA says his speaking points will include:
- Economic impact of COVID-19
- Macroeconomic effects on the U.S. marketplace and fluid power industry
- Macroeconomic effects on management objectives
- Macroeconomic effects on the global marketplace.
Also scheduled to present is Eric Starks of FTR Transportation Intelligence, a research firm focused on the commercial vehicle industry. Starks will provide his forecast for the heavy truck market, offering:
- Heavy and light truck analysis
- Future technological trends for trucks
- Macroeconomic impact on freight market.
Additional topics and speakers include:
- Overview of Key Customer Markets Overview – Alexandra Hermann, Oxford Economics
- Cybersecurity: Threats and Practical Actions – Nate Evans, Argonne National Laboratory
- Construction Machinery Forecast – Alexandra Hermann, Oxford Economics
- Robots and Cobots: An Automated Future - Donna Ritson, DDR Communications LLC
- Agriculture Machinery Forecast – Eli Lustgarten, ESL Consultants
- Metalworking/Machine Tool Market Forecast – Pat McGibbon, Association for Manufacturing Technology (AMT)
- Electric and Hydrogen Power and What it Means for Fluid Power – Interact Analysis
- Global Markets Overview – Conor Lokar, ITR Economics
- Fluid Power Industry Forecast – Jim Meil, ACT Research CO., LLC
Networking Opportunities Bring Industry Together
An always popular networking event at the IEOC is the NFPA Foundation Golf Fundraiser, which takes place Monday, Aug. 15 before the conference begins the following day. In addition to providing a networking opportunity, the event helps to raise funds for the NFPA Foundation which provides resources for workforce development in the fluid power industry.
All meals are included as part of registration for the IEOC and offer additional opportunities for industry networking. A special lunch for those in the NFPA Future Leaders Network will be held Aug. 16. This provides a further networking event for those in the Future Leaders Network to connect with others who are on a leadership path within the fluid power industry.
This article appeared in Power & Motion.