Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Fastest Declining Industries in the US by Revenue Growth (%) in 2020
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View a list of the Top 25 fastest declining industries2019-2020 Revenue Growth: -62.2%
Due to social distancing measures associated with the COVID-19 (coronavirus) pandemic in 2020, revenue for the Move Theaters industry has declined over the five years to 2020. During most of the period, the industry experienced growth due to rising per capita disposable income and the success of blockbuster films, drawing more moviegoers to theaters. Competition from substitute film viewing methods, such as an online streaming platforms, and other forms of entertainment has posed significant sources of external competition for the industry. However, the coronavirus pandemic has had a disastrous effect on the industry. IBISWorld estimates that industry revenue has decreased... Learn More
2019-2020 Revenue Growth: -61.8%
The Musical Groups and Artists industry has been subject to a series of massive shake-ups over the five years to 2020 due to the popularity of mp3 players, music piracy, internet radio and online streaming. Furthermore, the ongoing COVID-19 (coronavirus) pandemic has disrupted the industry's ability to hold live events. The steady replacement of physical albums with digital downloads has slashed revenue from record sales largely as a result of digital music selling at a lower price point. However, industry revenue is forecast to increase in 2015, 2016 and 2018 as rising per capita disposable income provides consumers with the... Learn More
2019-2020 Revenue Growth: -49.4%
The Car Rental industry is expected to decline over the five years to 2020 despite improvements in the macroeconomic landscape for most of the five-year period. Rising per capita disposable income, coupled with growth in consumer spending, encouraged consumers to increase their level of spending on both car leases and car rentals for leisure trips before the COVID-19 (coronavirus) outbreak hit. Due to shelter-in-place orders, the industry has endured vanishing demand as customers fear the coronavirus spread, causing industry revenue to decline an expected 49.9% in 2020 alone. Therefore, IBISWorld expects industry revenue to fall at an annualized rate of... Learn More
2019-2020 Revenue Growth: -45.4%
The Airport Operations industry has experienced healthy growth over the five years to 2020 as improving economic conditions have fueled demand for airport services. Increased travel activity of both domestic and international consumers has stimulated flight activity and generated revenue through passenger charges and aircraft support services, while rising per capita disposable income has enabled consumers to spend more on duty-free retail outlets, car rentals and other nonaeronautical industry services. However, industry growth has been limited by the industry's capacity constraints, which have created congestion and other inefficiencies at several major airports. Additionally, demand has nearly halted amid the COVID-19... Learn More
2019-2020 Revenue Growth: -45.2%
The Hotels and Motels industry is highly susceptible to changes in the domestic and global economic environments, which has caused the industry to experience substantial volatility over the five years to 2020 due to the recent global COVID-19 (coronavirus) pandemic. During most of the period, the industry benefited from increases in travel spending, corporate profit and general consumer spending. These factors were all affected substantially by the coronavirus pandemic. The onset of coronavirus in the United States immediately reversed economic trends that were benefiting the industry by stifling spending and halting travel. As a result, the Hotels and Motels industry... Learn More
2019-2020 Revenue Growth: -44.2%
The Petroleum Refining industry has experienced volatile conditions over the five years to 2020. Crude oil is the primary input cost for refiners, and due to its sensitivity to microeconomic and macroeconomic factors, such as supply and demand and the health of economies domestic and overseas, crude oil is a highly volatile commodity. The US oil and gas production index has increased at an annualized rate of 5.9% over the five years to 2020, contributing to the world price of crude oil to decline an annualized 7.0% during the same period. Industry revenue is estimated to decrease at an annualized... Learn More
2019-2020 Revenue Growth: -43.4%
Over the five years to 2020, downstream volatility has rocked the Mining, Oil and Gas Machinery Manufacturing industry. Booming global demand for resources and energy promoted strong industry growth during the latter half of the period; however, appreciation of the US dollar and severe declines in oil prices severely destabilized revenue at the outset of the five-year period. Consequently, over the five years to 2020, revenue is expected to decline at an annualized rate of 14.1% to $11.0 billion. In 2020, a sharp decline in oil prices reduced downstream capital expenditure, thus greatly reducing demand for industry products. As a... Learn More
2019-2020 Revenue Growth: -42.6%
Operators in the Trade Show and Conference Planning industry organize, promote and manage conventions, conferences and related events. As a result, typical industry clients include corporations from nearly all sectors, along with government agencies and nonprofit organizations. As a result, demand for industry services is influenced by economic conditions regarding overall domestic business activity, consumer spending and tourism trends. Over most of the five years to 2020, growth in the broader economy bolstered demand for industry services, as business activity and consumer spending increased. Nonetheless, fallout from the COVID-19 (coronavirus) pandemic is forecast to generate the largest single year contraction... Learn More
2019-2020 Revenue Growth: -41.0%
The Sightseeing Transportation industry provides a variety of ground, nautical and aerial sightseeing transportation for everyday consumers. Industry operators generally offer services such as bus tours, whale watches, helicopter rides, boat and dinner cruises and locomotive excursions. Over the five years to 2020, the industry benefited from improving economic conditions, including rising levels of per capita disposable income, which resulted in many consumers increasing their recreational expenditure. However, travel activity during the five-year period decreased, most notably in 2020 due to COVID-19 (coronavirus), which restricted consumers from international and domestic travel. This severely affected industry operators and dragged down performance... Learn More
2019-2020 Revenue Growth: -40.4%
The International Airlines industry has declined over the five years to 2020 amid volatility brought on by COVID-19 (coronavirus). In recent years, mounting competition from foreign competitors and chronic overcapacity within the industry's cargo transportation segment have forced industry operators to slash ticket prices and reduce freight shipping rates, causing industry revenue to decline. Moreover, substantial declines in the world price of crude oil led the price of jet fuel to plummet during the five-year period, preventing operators from generating revenue through fuel surcharge fees. Thus, the industry endures high revenue volatility and industry demand is dependent on economic conditions,... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Riskiest Industries in the US in 2020
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Least Risky Industries in the US in 2020
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