*Editor's Note: This article was originally published July 5 and updated with new/additional information July 27.
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
- Networking
- 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.
READ MORE: Fluid Power Shipments Rose in May 2022
In addition, industry analysts will provide a look at some of the top industry trends which are also expected to impact the fluid power market in the coming years.
The NFPA has released its finalized speaker lineup for the event. Alan Beaulieu of ITR Economics will return once again to provide an outlook for the future of the U.S. economy. His colleague Connor Lokar is also scheduled to present on the subject of the global marketplace and how it could impact the fluid power industry.
Several breakout sessions will be held as well during which Eric Starks of commercial vehicle research firm FTR Associates will discuss the current and future market outlook for the light- and heavy-duty truck segment. Donna Ritson of DDR Communications LLC will bring her expertise on pneumatics to a presentation on cybersecurity and IoT technologies.
Nate Evans of Argonne National Laboratory and George Lawson of HYDAC will also cover the topic of cybersecurity and offer actions manufacturers can take to prevent issues in this area.
The full event schedule and speaker lineup can be viewed on the event website.
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.
