Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Industries with the Biggest Increase in Profit Margin in the US in 2024
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View a list of the Top 25 industries with the biggest increase in profit marginPercentage Point Increase for 2024: 13.3pp
Demand for the Airport Operations industry is influenced by trends in domestic and international air travel. Overall, lightly competing enterprises benefited from economic growth, which led to increased spending on air travel among businesses and consumers. Similarly, an increase in the number of high-income households spiked demand for private air travel services. While these dynamics precipitated revenue growth, the industry has suffered from a significant amount of volatility as a result of the unprecedented COVID-19 disruption in 2020. However, thanks to government investment, airport operators were able to withstand the low periods until demand for travel returned. Therefore, revenue increased... Learn More
Percentage Point Increase for 2024: 7.8pp
Demand for the International Airlines industry has experienced significant volatility over the past five years. During the beginning of the current period, mounting competition from foreign competitors and chronic overcapacity within the industry's cargo transportation segment forced industry operators to slash ticket prices and reduce freight shipping rates, causing industry revenue to decline. Unprecedented disruption from the COVID-19 (coronavirus) pandemic generated the most substantial revenue decline in industry history. As global economies and health recover, pent-up consumer demand is anticipated to drive industry recovery toward the end of the period. Overall, industry revenue has decreased at a CAGR of 0.5%... Learn More
Percentage Point Increase for 2024: 7.5pp
The industry provides healthcare coverage and welfare benefits to employees, unions and other professional associations. These funds function similarly to pension funds and employee benefit programs, which aim to provide cost-effective medical and welfare coverage on a nonprofit basis for the benefit of members. The current period has been tumultuous for the industry. COVID-19 caused states and localities to shut down businesses and enforce social distancing rules, which resulted in a drop in stock prices. Since health and welfare funds invest heavily in the stock market, this led to a decline in revenue for the industry. Asset markets have been... Learn More
Percentage Point Increase for 2024: 6.0pp
Over the past five years, more visitors and rising consumer spending drove industry revenue. Amusement and theme park companies operate mechanical rides, water rides, games, shows, exhibits and refreshment stands, among many other attractions for consumer entertainment. Five major companies dominate the industry: Walt Disney, Universal Parks & Resorts, SeaWorld, Six Flags and Cedar Fair. The industry is highly competitive and major amusement park operators have used intellectual property rights to use film franchises and entertainment to attract consumers. Despite the COVID-induced decline, industry revenue grew at a CAGR of 2.4% to $25.7 billion through 2023.
Despite solid revenue growth, this... Learn More
Percentage Point Increase for 2024: 4.8pp
The Video Conferencing Software Developers industry has become indispensable over the past five years, transformed extensively by extreme digitization pressures during the COVID-19 pandemic, particularly at large corporations. This trend has been encouraged by several key factors shaping the corporate landscape, including highly globalized workforces, work-from-home policies and flatter organizational structures. The functionality and accessibility of video conferencing software were also forced to improve dramatically during the pandemic, as consumers spent more on webcams, microphones and laptops than ever. Seamless functionality and greater integration have popularized the unified communications as a service (UCaaS) designation for more robust, enterprise-level platforms serviced... Learn More
Percentage Point Increase for 2024: 4.0pp
Demand for movie theaters will significantly decline through the end of 2023 as a result of intense competition from online streaming platforms. The industry experienced its largest drop in performance amid the COVID-19 pandemic, which fueled at-home viewership. Still, rising per capita disposable income and the success of blockbuster films prior to the pandemic brought some revenue growth, though this has been significantly offset by other declines. Industry revenue has fallen at a CAGR of 15.9% to $8.9 billion through the end of 2023. Profit has also declined as drops in box office attendance made paying fixed costs, such as... Learn More
Percentage Point Increase for 2024: 3.5pp
The Auto Leasing, Loans and Sales Financing industry includes establishments that provide sales financing or leasing in combination with sales financing for automobiles. To start the period, increased consumer spending drove demand for industry services, while a rising prime rate drove up the cost of (and therefore revenue generated by) industry services, resulting in revenue growth. The industry saw negative revenue growth in 2020 as it faced depressed consumer demand and a lower prime rate due to the pandemic. The industry returned to growth in 2021 as consumer spending rebounded, as well as in 2022 as the prime rate has... Learn More
Percentage Point Increase for 2024: 2.8pp
Industrial and fluid power valve manufacturers offer general-purpose flow-control devices for widespread uses in manufacturing processes and water utilities infrastructure. The industry also manufactures specialized aerospace, oil and energy valves. Over recent years, valve manufacturers benefited from elevated steel prices, which enabled them to raise valve prices and generate higher revenue. However, elevated levels of economic uncertainty and high inflation slowed down manufacturing activity, hindering growth. Demand from the energy market boomed following skyrocketing oil prices, boosting specialized valve sales from the energy market. These trends have caused revenue to grow at an estimated CAGR of 1.0% to $30.3 billion... Learn More
Percentage Point Increase for 2024: 2.7pp
Valve manufacturers produce plumbing fixture fittings and other general-purpose valves, primarily used in construction, manufacturing and energy markets. Oil and natural gas extractors, which use highly specialized valves with better resistance to extreme conditions, have sharply influenced valve manufacturer revenue and have experienced pronounced volatile swings in prices. Revenue was additionally altered by supply chain issues and lowered demand brought upon by the pandemic. The industry has since undergone a resurgence in unison with improving macroeconomic conditions, delayed construction and backlogged projects coming to fruition, and recent inclines in the price of oil as a byproduct of the Russia-Ukraine conflict.... Learn More
Percentage Point Increase for 2024: 2.7pp
The Trusts and Estates industry comprises trusts, estates and agency accounts administered on behalf of beneficiaries under the terms established in a fiduciary contract. Industry revenue, composed primarily of capital gains on trusted assets and ordinary dividends, exhibited an increase over the past five years. The industry benefited from substantial yields in equity markets and appreciation in house prices during the current period. Over the past five years, revenue has climbed at a CAGR of 2.8% to $221.4 billion, including an expected 4.2% increase in 2023. Profit is expected to dip to 50.5% of revenue in 2023 from 51.1% in... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Most Profitable Industries in the US in 2024
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Fastest Growing Industries in the US by Revenue Growth (%) in 2024
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