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 2022
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View a list of the Top 25 fastest declining industries2022-2023 Revenue Growth: -15.0%
The Scrap Metal Recycling industry collects and processes both ferrous (iron-based) and nonferrous metals. Recycling typically involves sorting, shearing, shredding and torching the metal before selling it to steel mills, foundries and other industrial consumers, which then use it as an input for their products. Metal recycling has become more popular over the past few decades because it offers energy savings and cost benefits when compared with primary production, which requires extracting metals from mined ores. In addition, scrap metal has become more readily available as businesses and consumers discard cars, electronic appliances and other products. Despite these advantages, industry... Learn More
2022-2023 Revenue Growth: -12.2%
Over the five years to 2021, the Unmanned Aerial Vehicles (UAV) Manufacturing industry has struggled, contending with government budget cuts. Industry companies produce and develop UAVs, or drones, which are remotely piloted or autonomously operated aircraft. Since most demand for drones comes from the US military, the overall decline in defense funding before and slow growth during the period led to a reduction of funding for industry products. Moreover, demand for new UAVs was further reduced because the industry supplied the military with an enormous fleet in the previous decade. Thus, industry revenue is expected to decline at an annualized... Learn More
2022-2023 Revenue Growth: -11.7%
The Sign and Banner Manufacturing Franchises industry has exhibited a steep decline over the five years to 2021. For most years during the period, the industry's struggles have had little to do with demand for signage. Growth in advertising spending as well as steady investment in commercial construction have boosted demand for signs. 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 five years to 2021, industry revenue is expected to plummet an annualized rate 16.1% to... Learn More
2022-2023 Revenue Growth: -11.0%
Over the five years to 2021, revenue for the Tunnel Construction industry is expected to grow, largely as a result of surging state and local spending in conjunction with sharp increases in federal funding for transportation in response to the COVID-19 (coronavirus) pandemic. Predominantly, the industry has had a beneficial period, with industry revenue rising in each year of the current period, barring 2016 and a slight dip in 2018. Increases in industry revenue have been driven by an annualized 12.4% increase in federal funding for transportation. Typically, this industry performs well during recessions due to the fact that over... Learn More
2022-2023 Revenue Growth: -9.9%
Operators in the Record Stores industry primarily retail prerecorded audio and videotapes, CDs, DVDs, Blu-ray discs and phonographic records. Over the five years to 2021, industry operators have competed with sustained shifts in consumer preferences and competition from large discount and online retailers, which has decreased demand for the industry. With greater accessibility to high-speed internet, streaming and affordable disc-burning hardware, album sales have declined at an annualized rate of 13.7% during the five-year period. Despite declining sales, large discount stores have used purchasing power to capture market share by offering a wider selection of physical media at discounted prices,... Learn More
2022-2023 Revenue Growth: -8.8%
The News Syndicates industry includes businesses that produce or distribute news reports, photography, columns, editorial cartoons and other informational products. News syndicates in general do not publish their own material, Rather, news syndicates primarily license their content to downstream print publishers in addition to TV and radio broadcasters, who use the syndicated content to supplement their own news coverage. Over the five years to 2021, the industry has declined due to falling spending on print advertising, which has in turn limited downstream publishers' investment in supplemental content. However, the industry has also received boosts from the US presidential elections and... Learn More
2022-2023 Revenue Growth: -8.2%
The Data Recovery Services industry in the United States salvages computer files from damaged, failed, corrupted or inaccessible storage media. Although the increasing number of households with at least one computer and the rising popularity of electronic devices were expected to provide ample demand for industry services, options for data recovery and data loss prevention have expanded in recent years, and demand for industry services has declined. Over the five years to 2020, industry revenue is estimated to fall an annualized 9.5% to $9.1 million, with an expected decline of 14.2% in 2020 alone, accelerated by the effects of the... Learn More
2022-2023 Revenue Growth: -7.9%
Operators in the Iron and Steel Manufacturing industry manufacture various shapes of steel, with a lesser focus on making pig-iron and ferroalloys. Industry operators have endured wide swings in operating difficulty over the five years to 2022 as the world price of steel, a key input for the industry, has fluctuated. Industry revenue follows changes in the world price of steel products, which reflects global supply and demand trends. During the beginning of the period, the price of steel fell, creating an oversupply due to weakened demand for tubular steel from energy-related industries and unfavorable exchange rates for domestic steel... Learn More
2022-2023 Revenue Growth: -6.8%
The Coffin and Casket Manufacturing industry has experienced significant volatility over the five years to 2022. Although demand for deathcare products and services generally increases in line with the aging baby-boomer population, the expenses associated with burial and a greater cultural acceptance of cremation have sharply muted demand for caskets. Since cremations are typically the lowest-cost funeral method, this has put pressure on funeral homes, increasing price-based competition in this upstream industry and curtailing manufacturers' profit. Nonetheless, the COVID-19 (coronavirus) pandemic caused an unprecedent number of deaths and as a result, boosted demand for industry products. Overall, industry revenue is... Learn More
2022-2023 Revenue Growth: -6.1%
The DVD, Game and Video Rental industry includes brick-and-mortar operators that primarily engage in renting DVDs, videos and video games. Over the five years to 2021, demand for industry services dropped, as consumers have pivoted to video on demand (VOD) and streaming services, continuing a decade-long trend in this direction. While COVID-19 (coronavirus) stay-at-home mandates led to an increase in demand for home entertainment, industry revenue was still negatively affected due to contamination concerns, social-distancing measures and because of the coronavirus Hollywood slowdown, which limited the number of new titles that industry operators could provide. Declining 16.5% in 2021 alone,... 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 2022
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 2022
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