Industry Economics

Operators in the Bicycle Manufacturing industry manufacture bicycles and bicycle components.

During the five years to 2021, strong international competition inhibited greater industry growth; however, increases in disposable incomes and consumer confidence have led to rising demand for industry products.

Consequently, industry revenue has increased at an annualized rate of 2.7% to $1.1 billion during the five-year period to 2021, despite an estimated 0.1% decrease in 2021.

Demand for high-end bicycles has increased at a significant pace during the period.

As a result, many operators have refocused their efforts toward catering to this market, promoting more high-end bicycles to a younger and wealthier consumer base, resulting in higher revenue.

Moreover, demand for bikes actually surged in 2020 during the COVID-19 (coronavirus) pandemic, boosting industry revenue 4.9% in the year.

The Ceramics Manufacturing industry produces a diverse mix of products, including advanced and technical ceramics, plumbing fixtures, kitchenware, pottery products and lightweight body armor.

This industry has contended with high import competition, which has been exasperated by increases in the trade-weighted index and weakened demand from the Semiconductor and Circuit Manufacturing industry.

However, growth in housing starts and increased demand from automobile electronics manufacturing have supported revenue growth.

Over the five years to 2021, industry revenue is expected to increase at an annualized rate of 1.8% to $2.6 billion.

This includes a 6.6% decrease in revenue in 2020 caused by the COVID-19 (coronavirus), which has greatly reduced downstream demand in construction and housing markets, as well as exports.

Nevertheless, research anticipates industry revenue to rebound 4.3% in 2021 alone.

Furthermore, overall import competition is expected to remain high during the current period, with imports expected to account for 81.3% of domestic demand in 2021.

Additionally, industry profit is expected to remain steady during the current period.

Revenue growth for the Beer Wholesaling industry has been hindered by shifting alcohol consumption trends among consumers, particularly millennials.

Americans have been consuming less beer and opting for alternative alcoholic beverages.

However, the industry has continued to benefit from laws that prevent the vertical integration of breweries and retailers.

After the Prohibition era, nearly every state enacted a three-tier distribution system, requiring three distinct levels within the alcoholic beverage supply chain, including producer, distributor and retailer.

As a result, beer wholesalers have a protected role, purchasing beer from producers before storing and transporting it to downstream retailers.

Research estimates that industry revenue has grown at an annualized rate of 2.3% to $82.9 billion over the five years to 2021.

Since 2020, the COVID-19 (coronavirus) pandemic has resulted in rising demand for industry operators, with revenue projected to rise 1.0% in 2021 alone.

Over the five years to 2021, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with nearly 50 new active substances launched in 2019 alone.

According to research by Informa PLC, the number of new drug launches in 2019 was more than double the number launched in 2016, with many new drug launches focusing on rare diseases and oncology.

Given increasing price scrutiny, competition from generics, intensifying market competition among brand-name producers and rising research and development (R&D) expenses, many manufacturers have shifted their strategic focus to more lucrative therapy areas, such as rare diseases and oncology.

As a result, many operators pivoted their pipelines to rare diseases, in which low prescription volumes can be offset by high per unit costs and benefit from orphan drug exclusivity, which grants longer patent exclusivity in the United States and the European Union.

Over the five years to 2021, online media has challenged many traditional alternatives to billboards, such as newspapers and magazines, slowly seeping into billboard advertising as well.

Nonetheless, buoyed by growth in advertising expenditure and an uptick in business formation, advertisers have continued to value Billboard and Sign Manufacturing industry products as a way to reach mass audiences in an increasingly fragmented media landscape, benefiting demand for the industry.

Nonetheless, the effects of the COVID-19 (coronavirus) pandemic undermined industry revenue in 2020 as downstream demand declined broadly.

As a result, industry revenue is expected to decline an annualized 3.1% over the five years to 2021.

Notably, while nonresidential construction spending has largely risen during the current five-year period, boosting demand for general signage from commercial, public and institutional facilities, it has contract significantly since 2020.

However, as the pandemic begins to subside, industry revenue is expected to increase 3.4% to $13.2 billion.

Carbon fiber is a strong, extremely lightweight composite material that can be molded to take on a permanent shape.

Carbon fiber has many useful properties which make it a go-to in a wide range of applications.

These include corrosion-resistance, low upkeep, excellent durability, high stability and a high level of design freedom.

Demand for carbon fiber on an organic basis has grown significantly over the five years to 2021 and is likely to continue growing robustly over the five years to 2026.

However, Carbon Fiber and Graphene Manufacturing industry operators experienced declines in 2020 amid the COVID-19 (coronavirus) pandemic.

As consumer spending on air travel declined amid the pandemic, industry revenue followed.

During 2020, domestic trips taken by US residents is anticipated to have declined 59.5%.

Industry revenue is anticipated to follow, declining 16.0% in 2020.

Due to coronavirus-related volatility, overall revenue for the Carbon Fiber and Graphene Manufacturing industry is forecast to decline at an annualized rate of 0.5% to $1.7 billion over the five years to 2021, including an expected growth of 6.4% in 2021.