Industry experts that gathered and presented at the VMA Market Outlook Workshop this year, discussed swinging market conditions, political tensions, and trade battles. Among some common themes across presenters were those of concern for many years for them: lack of skilled labor, the need for infrastructure improvements and the effects of new technology. All of this culminating to one thing, uncertainty.
While uncertainty always looms, the overall outlook was positive. The water/wastewater industry will see “explosive growth” while midstream/downstream oil and gas, petrochemicals and mining are expected to see continued growth through 2020.
The United States have been in a prolonged economic recovery, noted as the longest expansion since World War II. Part contributor to this expansion, which is different than in past recoveries, is the investment in intellectual properties such as software.