Global Fastest Growing Industries by Revenue Growth (%) in 2020

1. Global Respiratory Ventilator Manufacturing

2019-2020 Revenue Growth: 54.8%

Products produced by the Global Respiratory Ventilator Manufacturing industry have long been a staple of the global healthcare sector. Demand for ventilators has historically been stable since they are a life-saving device for patients with limited breathing function. While hospitals do not usually need a significant number of ventilators, the COVID-19 (coronavirus) pandemic has caused demand for ventilators to skyrocket in 2020. Patients with severe coronavirus symptoms often need to be ventilated because their lungs become so inflamed that they are unable to provide the body with enough oxygen. While ventilation is not always successful, at this stage of the... Learn More

2. Global Sugar Manufacturing

2019-2020 Revenue Growth: 8.8%

Over the five years to 2019, the Global Sugar Manufacturing industry has experienced massive fluctuations in global sugar prices. Increased diversion of sugar stocks for ethanol production and adverse weather conditions have caused instability in the sugar stocks-to-use ratio, which, in turn, has caused the world price of sugar to experience intense volatility over the past five years. As a result, industry revenue is anticipated to decrease at an annualized rate of 4.2% to $58.5 billion over the five years to 2019, including revenue increasing 0.9% in 2019 alone.

Brazil is very influential to the health of the Global Sugar Manufacturing... Learn More

3. Global Military Shipbuilding & Submarines

2019-2020 Revenue Growth: 8.5%

Over the five years to 2019, the Global Military Shipbuilding and Submarines industry has expanded, tempered by pressured defense spending in Europe and the United States during the first half of the period. Western governments make up the largest market for industry operators, which design, build, repair, maintain and overhaul naval vessels ranging from aircraft carriers to submarines. However, as western governments have dealt with the fiscal consequences of the global economic slowdown, they, in turn, cut back on naval spending, which has only recently begun to recover. In particular, European countries have reduced spending on naval vessels as the... Learn More

4. Global Public Relations Agencies

2019-2020 Revenue Growth: 6.3%

Revenue for the Global Public Relations Agencies industry largely depends on the incomes of businesses and consumers. Clients use public relations (PR) agencies for a variety of reasons, including managing a company's image or promoting products to target certain demographics. Over the five years to 2019, operators have dedicated a greater proportion of their budgets to public relations in place of traditional advertising, as PR firms have effectively manipulated the power of digital media. Additionally, burgeoning consumer markets across emerging countries have contributed to revenue growth in developing regions. Accordingly, industry revenue is expected to increase at an annualized rate... Learn More

5. Global Consumer Electronics Manufacturing

2019-2020 Revenue Growth: 6.2%

The Global Consumer Electronics Manufacturing industry is expected to grow at an annualized rate of 1.9% to $1.4 trillion over the five years to 2019, including a 3.8% increase in 2019 alone. The past five years have been characterized by growth in emerging markets and the introduction of new products, leading to more people buying consumer electronics. Innovative products, falling prices, growing household incomes and rising consumer sentiment have supported demand for consumer electronics. Still, many industry products have approached market saturation, leading to price competition and downward pressure on profit margins across the industry. Meanwhile, consumers have been spending... Learn More

6. Global Music Production and Distribution

2019-2020 Revenue Growth: 6.2%

Digital music has ultimately created a shift in the way artists engage with fans, a transition that has had major implications for the Global Music Production and Distribution industry. In general, low-margin digital distribution of music has prompted the industry's largest companies to generate revenue through a range of services that extend beyond simply generating income from record sales, as record labels have traditionally done in the past. Moreover, declines in profitability over the past two decades, in part due to the rise of the internet and consequent proliferation of peer-to-peer (P2P) file sharing that permitted the illegal downloading of... Learn More

7. Global Airport Operation

2019-2020 Revenue Growth: 5.0%

The Global Airport Operation industry has reached its cruising altitude. Rising levels of airline passenger traffic over the five years to 2020 have enabled airports to earn significant revenue through passenger charges and services provided directly to airlines. Increased capital expenditures have slightly constrained industry profit over the past five years, as any significant addition or renovation to an existing facility can cost hundreds of millions of dollars, while an entire new commercial airport can be worth billions of dollars. At the same time, improving economic conditions have increased corporate profit and fueled global manufacturing activity, causing airlines to operate... Learn More

8. Global Bakery Goods Manufacturing

2019-2020 Revenue Growth: 4.8%

The Global Bakery Goods Manufacturing industry has risen over the five years to 2019 despite numerous challenges. Demand for bakery products has risen slowly in the mature markets of Western Europe and North America, which has caused manufacturers to seek opportunities in higher growth regions. Additionally, despite tepid demand growth, global disposable income levels have risen, and consumers have increasingly turned to high priced and premium baked goods, including organic and gluten-free options. Overall, IBISWorld anticipates industry revenue to increase at an annualized rate of 4.2% to $586.2 billion over the five years to 2019. This includes a forecast increase... Learn More

9. Global Accounting Services

2019-2020 Revenue Growth: 4.8%

Operators in the Global Accounting Services industry commonly provide a variety of services, such as the preparation of financial statements, the development of budgets and the review of auditing records for small, medium and large businesses. Stabilization and steady economic growth in developed nations, as well as continued strength in many emerging nations, have encouraged business creations and expansion, thereby increasing the potential pool of clientele for accounting firms. In addition, rising global equity values and an increase in investor optimism has sparked a jump in revenue from assurance-related work, as the industry commonly provides expertise for mergers and acquisitions,... Learn More

10. Global Cheese Manufacturing

2019-2020 Revenue Growth: 4.3%

The value of the Global Cheese Manufacturing industry has grown over the five years to 2020, primarily as a result of stable demand for dairy products, improved per capita consumption of cheese worldwide and continued product innovation. Overall, IBISWorld estimates that industry revenue has increased an annualized 2.6% to $119.0 billion over the five years to 2020. While the industry has performed well over the years leading up to the reporting period, a steady rise in the price of milk has placed upward pressures on cheese prices. In addition, a depreciating euro during the majority of the period cut into... Learn More