Based on the expert analysis and our database of 70+ Global industries, IBISWorld presents a list of the Global Fastest Growing Industries by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest growing industries2021-2022 Revenue Growth: 43.3%
The Global Iron Ore Mining industry's financial performance has been strong over the five years to 2021. Industry revenue is a function of global demand conditions, and volatility in the world price of iron ore during the period has led to several years of double-digit rises. Due to a slight decrease in global production and increasing demand, industry revenue is projected to increase an annualized 20.1% to $374.6 billion over the five years to 2021, including an estimated rise of 40.8% in 2021 alone. The growth in 2021 can be mainly attributed to the recovering demand trends after the peak... Learn More
2021-2022 Revenue Growth: 40.1%
The Global Airport Operation industry has experienced complex operating conditions over the five years to 2021. Rising levels of airline passenger traffic through much of the period enabled airports to earn significant revenue through passenger charges and services provided directly to airlines. At the same time, improving economic conditions increased corporate profit and fueled global manufacturing activity, causing airlines to operate more flights to transport greater quantities of cargo. However, the COVID-19 (coronavirus) pandemic completely disrupted the industry over 2020, causing revenue losses of more than 50.0% in that year alone. Overall, industry revenue is estimated to decrease an annualized... Learn More
2021-2022 Revenue Growth: 37.4%
The Global Travel Agency Services industry has experienced revenue decline over the five years to 2021, all while the industry's core services dramatically changed due to consumers using online channels to research and book travel. Online booking agents now play a much larger role within the industry, alongside traditional brick-and-mortar travel agencies. International tourism grew strongly prior to the COVID-19 (coronavirus) pandemic, which is expected to severely cut into revenue over 2020, followed by a rebound of 35.1% in 2021 as the economy returns to normal. Overall, industry revenue is expected to shrink an annualized 3.0% to $290.5 billion over... Learn More
2021-2022 Revenue Growth: 33.6%
Despite rising levels of airborne passenger and cargo traffic through much of the period, revenue for the Global Airlines industry has declined over the five years to 2021 as volatile fuel prices and growing competition, as well as the COVID-19 (coronavirus) pandemic, have placed downward pressure on airline ticket prices and freight shipping rates. At the same time, recent growth in global per capita income, in addition to other solid macroeconomic indicators, fueled demand for airline passenger transportation prior to the pandemic. Overall, industry revenue is estimated to decrease an annualized 8.3% to $471.8 billion over the five years to... Learn More
2021-2022 Revenue Growth: 29.0%
The Global Heavy-Duty Truck Manufacturing industry has experienced an eventful time over the five years to 2020. Governments across the globe have imposed new regulations aimed at reducing truck emissions. When new standards are introduced, truck prices typically increase due to higher research and development costs to make truck emissions compliant. Truck buyers are aware of this trend, and when legislation change is announced, buyers tend to purchase vehicles in anticipation of rising prices once the new law is implemented.
Despite rising regulations, the industry grew between 2015 and 2019 due to growth in emerging economies such as China and India.... Learn More
2021-2022 Revenue Growth: 23.6%
The Global Deep-Sea, Coastal and Inland Water Transportation industry, which transports cargo and passengers across the world's waterways, has experienced strong growth over most of the five years to 2021. Rising global per capita income and increased production activity among the world's most developed economies have increased demand for industry services, though the COVID-19 (coronavirus) pandemic is forecast to severely cut into demand in 2020. These strong market conditions have offset an excess of maritime carrying capacity relative to downstream demand, which has constrained international freight rates and hindered industry growth. Additionally, industry revenue has been sustained by the strong... Learn More
2021-2022 Revenue Growth: 21.9%
The Global Tourism industry is expected to decrease an annualized 4.3% to $1.3 trillion over the five years to 2021. Global tourism has performed well during most of the five-year period, with emerging economies continuing to stimulate growth. Moreover, countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. However, due to the COVID-19 (coronavirus) pandemic, industry revenue is expected to decline nearly 50.0% in 2020. The global outbreak is expected to have an enormous effect on all tourism-related industries as many... Learn More
2021-2022 Revenue Growth: 21.6%
Coal mined by the Global Coal Mining industry plays a vital role in the world's ability to generate electricity and manufacture steel. Coal's position in global electricity markets stems from its relative accessibility, affordability and distribution across the globe. The world's largest coal producers are China, the United States and India, with these countries expected to retain their positions for the foreseeable future. Industry revenue is a function of global production of industry products alongside global coal prices, with prices being closely tied to global economic conditions. Over the five years to 2021, prices of thermal and coking coal have... Learn More
2021-2022 Revenue Growth: 17.0%
The Global Commercial Aircraft Manufacturing industry is expected to decline over the five years to 2021. Industry operators design, manufacture, overhaul and rebuild planes, helicopters, aircraft engines and various aircraft components and subsystems for the commercial and civil markets. The industry primarily depends on downstream demand from airlines, which make up most major markets for operators. The global rise in disposable income levels has driven major growth in demand for air travel during most of the period, although investment in new aircraft has fallen as many airlines have been using older aircraft. Additionally, the spread of COVID-19 (coronavirus) has lowered... Learn More
2021-2022 Revenue Growth: 16.0%
Over the five years to 2021, the center of the Global Casinos and Online Gambling industry has shifted from the United States, specifically Las Vegas and Atlantic City, to China, more specifically, Macau. A wave of recent casino openings in Macau has propelled this shift. As of 2021, there were 50 casinos located on the island. Additionally, casino openings in other parts of Asia are expected over the five years to 2026. Two mega casino developments in Singapore already rival casinos in Las Vegas, and Japan recently legalized casinos, raising the potential for billions of dollars in new investment. However,... Learn More
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