Keep optimism through IFPE and beyond
Each week, we see more news of the dip occurring in the industrial market here in the U.S. Markets and shipments are down and have been across the board, particularly in the fluid power space.
The NFPA has indicated mobile hydraulic, industrial hydraulic and pneumatic shipments decreased when compared to last year and decreased when compared to last month. And, U.S. manufacturing technology orders fell 15% in November from the previous month to $320 million, according to a report published by The Association for Manufacturing Technology.
But these despite indicators manufacturers and users are optimistic about the industry. Alan Beaulieu of ITR Economics echoed these sentiments at the A3 Conference last month, where he said he expects industrial declines to continue until mid-2020, but we’ll see a pick-up in Q3 and Q4. And, notably, he pointed out that currently, there is tough competition for employees. This is reflected in our market, too, as Fluid Power World’s Ken Korane pointed out last month. Demand for fluid power specialists is still high, with opportunities for better jobs and better pay a strong possibility in the current market, Korane said.
Add all this news into the fact that it’s an IFPE year, and we’re bullish on fluid power. Things may be trending downward but with registrations trending at a record pace for CONEXPO-CON/AGG and IFPE next month, and an overall positive mindset, things are continuing to look up for fluid power.
It will be particularly interesting to hit the ground at IFPE and learn what manufacturers and users are saying about the industry and where it’s headed for the second half of this year and into 2021. Stay tuned for reports from the show, where our editorial team will be highlighting industry news with show daily newsletters, daily blogs, videos and more. Our post-show coverage will continue for months to come.
In the meantime, turn to page 37 for our record coverage of IFPE, with in-depth looks at the many education offerings, a full exhibitor list, show maps, technical component briefs and a round-up on mobile machine electrification highlights.
Mary C. Gannon
On Twitter @DW_marygannon