Fastest Declining Industries in the US by Revenue Growth (%) in 2019

1. Solar Panel Manufacturing in the US

2018-2019 Revenue Growth: -23.0%

The Solar Panel Manufacturing industry, which manufactures solar modules and cells in the United States, experienced large fluctuations in revenue over the five years to 2019. Between 2014 and 2016, the industry contended with intense competition from Asian manufacturers, which flooded the US market with low-cost solar modules and cells that drove down industry prices during the current period. However, stabilization of Chinese supply has yielded an increase in global solar panel prices, hindering domestic demand between 2017 and 2019. In addition, the relative strength of the US dollar over the past five years made exports more expensive for foreign... Learn More

2. Combine Harvester Manufacturing

2018-2019 Revenue Growth: -14.2%

The Combine Harvester Manufacturing industry has experienced severe declines. Over the five years to 2019, industry revenue is expected to fall an annualized 15.7% to settle at $2.8 billion, which includes an anticipated 0.5% increase in 2019 alone. A combine harvester is a piece of farm machinery that performs the tasks of harvesting, threshing and cleaning field crops; end users include a range of farmers, primarily those who harvest corn, soybeans, wheat, cotton and tobacco. As a result, demand for industry products is tied strongly to agricultural producers' returns at the farmgate. However, the agricultural price index declined an annualized... Learn More

3. DVD, Game & Video Rental in the US

2018-2019 Revenue Growth: -11.1%

The DVD, Game and Video Rental industry includes operators that primarily engage in renting DVD, videos and computer and video games. Over the past five years, the growing popularity and dominance of Video on Demand (VOD) and streaming services have hampered demand for traditional DVD renting services, forcing brick-and-mortar operators such as Blockbuster, into bankruptcy. Furthermore, as online streaming services are able to competitively price their products, they have forced industry operators to accept lower rental prices. As a result, industry operators have been struggling with a consistent fall in demand for their services. IBISWorld expects industry revenue to fall... Learn More

4. Oil and Gas Drilling Equipment Manufacturing

2018-2019 Revenue Growth: -10.6%

The Oil and Gas Drilling Equipment Manufacturing industry provides machinery and equipment to oil and gas extractors. This industry continued to benefit from a resurgence in the oil and gas extraction sector in the United States until 2014; however, the decline in oil prices beginning late 2014 affected the industry significantly. This is highlighted by the 34.8% and 34.4% declines in industry revenue in 2015 and 2016, respectively. Consequently, industry revenue is expected to decrease at an annualized rate of 12.1% to $15.6 billion over the five years to 2019. Sharply decreasing revenue has caused industry profit margins to shrink... Learn More

5. Sign & Banner Manufacturing Franchises

2018-2019 Revenue Growth: -9.9%

The Sign and Banner Manufacturing Franchises industry has exhibited a steep decline over the past five years. The industry's struggles have had little to do with demand for signage, which has actually increased steadily during the five-year period. Strong growth in advertising spending as well as steady investment in nonresidential construction have boosted demand for signs, since advertisers and most businesses exhibit some level of demand for signage. These two trends have pushed up US demand for signage over the past five years. However, franchises have had a greatly diminished role in providing industry products. As a result, over the... Learn More

6. Retirement & Pension Plans in the US

2018-2019 Revenue Growth: -9.7%

The Retirement and Pension Plans industry has experienced a large contraction over the five years to 2019, as strong gains in investment income and contributions during the latter half of the current period did not restore massive declines in investment income in 2015. Revenue for the industry is measured as the sum of plan contributions and investment gains. Performance in financial markets is closely tied to the yield on assets managed by pension funds. Despite volatility in investment income, defined benefit (DB) plan assets are expected to rise steadily during the current period due to growing contributions. Large declines in... Learn More

7. Tobacco Growing in the US

2018-2019 Revenue Growth: -9.6%

The 2005 deregulation of the Tobacco Growing industry continues to linger over tobacco farmers. The removal of federal production quotas and price supports initiated an exodus; an estimated one-third of tobacco farmers left the industry. Without government support, small and otherwise unprofitable farmers switched crops or were bought out by larger growers, decreasing the number of industry operators at an annualized rate of 7.6% over the past five years. Today, the remaining 2,728 operators engaged in tobacco growing are large, well-established operations with international reputations and reach. Ultimately, deregulation and the mass exit of farmers from the industry has led... Learn More

8. Cementing Oil & Gas Well Services

2018-2019 Revenue Growth: -9.2%

The Cementing Oil and Gas Well Services industry comprises companies engaged in providing cementing, well sealing and mixing services to oil and gas well operators. Cementing operations are performed so that oil and gas wells are secured in place and surrounding environments are not contaminated by the extraction process. The use of cementing also prevents caverns from forming and other parts of the borehole from collapsing. Companies also use cementing services to seal wells that are not being currently used.

Over the five years to 2019, the industry has been highly volatile due to massive fluctuations in crude oil and natural... Learn More

9. Body Armor Manufacturing

2018-2019 Revenue Growth: -8.5%

The Body Armor Manufacturing industry, which produces protective equipment such as hard and soft body armor, shields and headwear, took a major hit over the five years to 2018. The industry is highly reliant on demand from the US military, which receives its funding from the federal government. Over the past five years, industry revenue has fallen rapidly after reaching unprecedented levels earlier in the decade. In particular, reduced US combat operations and the overall decline in defense spending led to lower US military spending on armor. Therefore, as manufacturing contracts tapered off, industry revenue plunged at an expected annualized... Learn More

10. Lighting & Bulb Manufacturing in the US

2018-2019 Revenue Growth: -8.2%

The Lighting and Bulb Manufacturing industry produces a range of products including electric light bulbs, tubes, parts and components. However, this industry excludes light-emitting diode (LED) and lighting fixture manufacturers. Over the five years to 2019, the industry has struggled with import penetration and increasing input costs. Additionally, the increasing substitution of LEDs for traditional lighting systems has dramatically reduced demand for industry products. As a result, industry revenue is expected to decrease at an annualized rate of 9.8% over the five years to 2019 to reach $1.0 billion, including a decrease of 2.5% in 2019 alone.

Although the total value... Learn More