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: 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: 17.6%
Over the five years to 2020, 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 2020, there were 50 casinos located on the island. Additionally, casino openings in other parts of Asia are expected over the five years to 2025. 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
2021-2022 Revenue Growth: 16.6%
Over the five years to 2020, revenue for the Global Car and Automobile Sales industry is expected to fall, mainly due to the economic fallout as a result of the COVID-19 (coronavirus) pandemic. The industry experienced growth during the beginning of the period as rising global per capita income and increased global consumer spending encouraged global auto sales, primarily in emerging economies. However, several factors have limited industry expansion. For example, several European nations experienced weak economic growth. The United States also experienced a slump in auto sales going into 2020 after previously posting strong sales between 2009 and 2016.... Learn More
2021-2022 Revenue Growth: 15.3%
Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from oil and gas reserves across the world. Over the five years to 2021, the prices of crude oil and natural gas have fluctuated despite steady growth in production, which has caused wild revenue fluctuations. Slowing global demand alongside continually rising supply caused prices to plummet in 2016 and 2020, although they have begun to recover in 2021. Overall, industry revenue is forecast to decline an annualized 2.2% to $2.1 trillion over the five years to 2021, with an expected rise... Learn More
2021-2022 Revenue Growth: 13.7%
The Global Commercial Aircraft Manufacturing industry is expected to decline over the five years to 2020. 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 the bulk of the major markets for operators. The global rise in disposable income levels has driven major growth in demand for air travel, although investment in new aircraft has fallen as many airlines have been using older aircraft. Despite a decrease in the production of widebody and single-aisle... Learn More
2021-2022 Revenue Growth: 13.2%
Despite rising levels of airborne passenger and cargo traffic, revenue for the Global Airlines industry has declined over the five years to 2020 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. Moreover, the total value of world trade has increased slowly over the past five years, limiting demand for cargo transportation services. At the same time, recent growth in global per capita income has fueled demand for airline passenger transportation. Overall, industry revenue is estimated to decrease an annualized 1.8% to $686.0... Learn More
2021-2022 Revenue Growth: 12.4%
Operators in the Global Management Consultants industry provide advisory services to a range of clients to help improve organizational performance. Consultants focus on topics such as organizational design, process management and corporate strategy. Over the five years to 2021, demand for management consulting services has increased, despite the COVID-19 (coronavirus) pandemic negatively affecting the industry in 2020 and partially in 2021. However, industry profitability is expected to decline marginally during the period as wage pressure, competition and reduced demand in 2020 that are likely to persist into early 2021 weigh on industry profit. Between 2016 and 2019, global economic growth... Learn More
2021-2022 Revenue Growth: 11.9%
Revenue for the Global Automobile Engine and Parts Manufacturing industry, which produces motor vehicle engines and other engine parts such as valves, crankshafts, camshafts, fuel injectors and pistons, is expected to fall an annualized 0.8% to $290.7 billion over the five years to 2021. Ultimately, the industry is tethered to that of global car production, thus leaving operators vulnerable to a myriad of macroeconomic and political factors that affect the automotive sector in aggregate. During most of the period, an emphasis on engine efficiency and economic growth supported industry expansion. However, the rapid spread of COVID-19 (coronavirus) has brought industry... Learn More
2021-2022 Revenue Growth: 11.8%
Over the five years to 2020, the Global Hotels and Resorts industry experienced strong growth as both consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This culminated in a substantial increase in both travel rates and hotel room and occupancy rates, two indicators of a hotel's performance. Travel spending has also picked up quickly, especially in emerging economies where tourism is on the rise. Global tourist arrivals were steadily increasing between 2015 and 2019 until a drastic drop in 2020 due to the global spread of COVID-19 (coronavirus). As a result... Learn More
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