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: -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: -33.9%
The Casino Hotels industry is expected to decline over the five years to 2020. Domestic competition has increased during the current period, as states that did not previously permit gambling loosened regulations. Meanwhile, competition from international gaming capitals that attract operators by offering tax exemptions for new establishments, such as Macau, remains significant. Moreover, the COVID-19 (coronavirus) outbreak occurred in early 2020 has weighed on the industry dramatically as all casino hotels are required to temporarily shutter. Consequently, industry revenue is expected to decrease at an annualized rate of 6.7% to $44.2 billion over the five years to 2020, including... Learn More
2019-2020 Revenue Growth: -33.4%
The ATV, Golf Cart and Snowmobile Manufacturing industry produces many of the most popular recreational vehicles on the market. Consequently, industry revenue performance is sensitive to changes in consumer spending. As unemployment has increased, more Americans have experienced weakened levels of disposable income. This is due to the COVID-19 (coronavirus) pandemic and its effect on macroeconomic conditions. This trend explains why many Americans are putting off purchasing more high-value items, such as recreational vehicles, hindering industry revenue over the five years to 2020. Due to these negative trends, industry revenue growth has been drastically weakened. IBISWorld expects industry revenue to... Learn More
2019-2020 Revenue Growth: -29.4%
The Tanning Salons industry, which provides indoor UV tanning beds and spray tanning services, was on a steady growth path over the five years to 2020 until the onset of COVID-19 (coronavirus) halted all revenue streams due to the closure of all nonessential businesses. For the majority of the five-year period, consumers became wealthier due to higher employment and rising per capita disposable income, making demand for personal services and other luxury services rise alongside discretionary spending. However, these growth trends were offset by the estimated 30.7% decline in revenue in 2020, which caused the industry to shrink an annualized... Learn More
2019-2020 Revenue Growth: -29.1%
The Excavation Contractors industry derives more than three-fourths of its revenue from the private residential and nonresidential building market. The remainder of revenue stems from the excavation of land in nonbuilding construction markets, such as sports fields, roadwork and water supply facilities. Industry operators typically compete with general construction companies and heavy construction contractors, highway and road contractors, engineering companies, demolition and wrecking contractors and other specialist contractors. Over the five years to 2020, the industry has performed strongly on a year-over-year basis; however, large declines in 2020 as a result of the COVID-19 (coronavirus) outbreak, which has roiled construction... Learn More
2019-2020 Revenue Growth: -26.1%
The Indoor Climbing Walls industry is estimated to decline at an annualized rate of 1.5% to $530.3 million over the five years to 2020. Companies in the Indoor Climbing Walls industry operate indoor climbing centers, which are typically classified as either full-service climbing gyms or bouldering-only facilities. Over the past five years, the popularity of indoor climbing gyms has grown rapidly as consumers seek out alternative and individual methods for exercise. Climbing provides a full-body workout, making it popular among a variety of athletes for cross-training. However, the ongoing COVID-19 (coronavirus) pandemic has forced industry players to temporarily close operations.... Learn More
2019-2020 Revenue Growth: -26.0%
The Department Stores industry has continued its long-term decline over the five years to 2020, with revenue expected to fall at an annualized rate of 11.0% to $100.0 billion. The industry's continued decline has been accentuated by a 27.4% fall in 2020 alone as operators shut facilities amid the COVID-19 (coronavirus) pandemic. Additionally, while rising competition from e-commerce has accelerated declines, revenue contraction is primarily attributable to the increasing number of major players that have expanded their product ranges to include groceries, which transitions their revenue to the Warehouse Clubs and Supercenters industry (IBISWorld report 45291), a trend that is... Learn More
2019-2020 Revenue Growth: -25.8%
The Document Preparation Services industry experienced remarkable growth less than a decade ago; however, the industry's growth rate has slowed considerably with the introduction of automated systems, which are decreasing the need for industry services. Confronted with decelerating demand from small businesses and an increasing pressure to lower prices, the industry has failed to sustain its previous levels of growth and is entering a declining life cycle phase. Moreover, recent developments in automated technology solutions, such as voice recognition technology (VRT) and other artificial intelligence (AI) systems, have increased competition from other industries, posing significant threats to the industry's long-term... Learn More
2019-2020 Revenue Growth: -23.9%
Companies in the Gasoline and Petroleum Bulk Stations industry manage bulk storage tanks and terminals for crude oil and petroleum products such as gasoline, diesel fuel, fuel oil and liquid petroleum gases (LPGs). These bulk stations are often located near major refineries, ports and industrial centers to quickly and efficiently receive products and unload it to customers, playing an important role in the crude oil and petroleum products supply chain. Operators can be as large as a multi-tank facility with the capacity to store millions of gallons of product or as small as a single-tank outpost that supplies gasoline to... Learn More
2019-2020 Revenue Growth: -22.8%
The Cut and Sew Manufacturers industry encompasses apparel contractors that cut and sew apparel and accessories using materials owned by others. For decades, increasing competition from low-cost foreign apparel manufacturers has diminished demand for services rendered by industry operators. To remain competitive, operators have increasingly abandoned lower-value products in favor of premium segments, opting to compete on the basis of quality rather than price. Furthermore, industry operators have benefited from rising disposable income over the five years to 2020, which has bolstered demand for domestically produced apparel. Despite beneficial demand trends, the industry has still experienced declining revenue due to... 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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