The National Fluid Power Association (NFPA) Annual Industry and Economic Outlook Conference (IEOC) will be held August 16-17, 2022 in Itasca, Illinois. Once again, the event will provide economic insights into the various markets that the hydropower industry serves. And with supply chains, inflation and global events continuing to impact many industries, the insights presented at the 2022 event will be especially valuable to attendees.
Registration is open to anyone working in the hydraulic supply chain, whether or not they are a member of the NFPA. The hotel block at the Westin Chicago Northwest, the venue for the event, closes July 25.
READ MORE: How digitalization affects hydropower
According to the NFPA, there is a high number of participants already registered and high expectations for the 2022 event.
In addition to the conference presentations, various networking opportunities will also take place during the IEOC. Among them:
- NFPA Foundation Golf Fundraiser,
- the activities of the Emerging Leaders Network,
- networking receptions and meals,
- committee meetings, and
- Power of Association Networking Reception and Dinner.
Market overview to aid in future business planning
According to the NFPA, the top 5 reasons to attend the IEOC are:
- Industry projections
- Mondial economy
- Technology and Business Information
- Strategic planning solutions.
Economic forecasts and market outlooks provided by top economists are a major draw to the IEOC. With the information provided at the event, people working in the hydropower industry can better determine their business plans.
READ MORE: Electrohydraulic Disruption: New Technologies Lead the Way
Renowned economists and industry analysts will make presentations at the conference. Among them will be Alan Beaulieu of ITR Economics who is to provide perspective on the US market and its impact on the global economy. The NFPA says its speaking points will include:
- Economic impact of COVID-19
- Macroeconomic Effects on the U.S. Hydropower Market and Industry
- Macroeconomic effects on management objectives
- Macroeconomic effects on the world market.
Eric Starks of FTR Transportation Intelligence, a research firm focused on the commercial vehicle industry, is also scheduled to present. Starks will provide its forecast for the heavy truck market, offering:
- Analysis of heavy and light trucks
- Future Technology Trends for Trucks
- Macroeconomic impact on the 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
- Farm Machinery Forecast – Eli Lustgarten, ESL Consultants
- Metalworking / Machine Tool Market Forecast – Pat McGibbon, Association for Manufacturing Technology (AMT)
- Electric Power and Hydrogen and What It Means for Hydropower – Interaction Analysis
- Overview of global markets – Conor Lokar, ITR Economics
- Hydropower Industry Forecast – Jim Meil, ACT Research CO., LLC
Networking opportunities bring the industry together
An always popular networking event at the IEOC is the NFPA Foundation Golf Fundraiser, which takes place on Monday, August 15 before the conference begins the following day. In addition to providing a networking opportunity, the event helps raise funds for the NFPA Foundation which provides resources for workforce development in the waterpower industry.
All meals are included as part of IEOC registration and provide additional industry networking opportunities. A special luncheon for NFPA Future Leaders Network members will be held on August 16. This is another networking event for members of the Future Leaders Network to connect with others who are on the path to leadership within the hydropower industry.
This article originally appeared in Power & Motion.