VALVE MAGAZINE Fall 2024

MARKET OUTLOOK

MARKET OUTLOOK Infrastructure Project Growth Expected to Continue

Speakers at the recent Market Outlook Workshop conducted by VMA and HI shared mixed predictions across industry sectors.

BY: HEATHER GAYNOR, Editor-in-Chief

In early August , the Valve Manufacturers Association and the Hydraulic Institute held their annual Market Outlook Workshop in suburban Chicago. Speakers included some return favorites and a few new experts. Among the sectors covered were oil and gas, water and wastewater and construction and HVAC, in addition to presentations that offered

outlook for the chemical and power industries in the U.S. and Canada. Burt shared that momentum for projects continues to grow thanks to government incentives, investor environmental and sustainability goals (ESG) and potential construction for new plants including hydrogen,

Industrial Production Growth will Overtake GDP Again

insight across multiple indus tries. The overall sentiment was positive with continued infrastructure investments offering opportunities for valve and pump manufac turers, and with industrial growth outpacing GDP again, but there are a few areas that may lag or even face a downturn, according to the speakers. Read on for high lights from each speaker. Chemical industry opportunities abound Britt Burt, senior VP of research for the power industry at Industrial Info Resources, discussed the

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VALVE MAGAZINE

FALL 2024