Industrial Outlook from Top CEOs
Baird's 52nd annual Global Industrial Conference brought to light various dynamics underlying the sector as we go into 2023. We hosted 305 presenting companies and over 2,700 attendees across an in-person conference in Chicago and virtual private company track.
Baird's Global Industrial Investment Banking team is pleased to share our key takeaways. Most CEOs confirmed strong customer demand through Q3 2022 – the expectation is that industrial demand will soften next year, but record backlogs provide confidence for 2023.
- Single digit growth for most in 2023
- Ongoing supply chain normalization
- Automation and digitalization continue to progress
- Regional differences with US showing relative strength
- Reshoring in "critical" end markets, starting in the US
- Active market for highly strategic corporate M&A