The Automobile Electronics Manufacturing industry manufactures motor vehicle parts that have or operate with the aid of small components that control and direct an electric current.

Industry operators include manufacturers of lighting systems, electrical wiring, electrical control units, sensors, electronic ignition systems and driver displays.

The industry has experienced declines in recent years, with revenue falling at an annualized rate of 6.7% to $19.1 billion over the five years to 2020.

Increased unemployment and decreasing consumer confidence have ultimately hurt revenue during the period.

However, historically low interest rates have facilitated easier financing for big-ticket discretionary items such as car and truck purchases.

Additionally, the growing number of electronic devices inside vehicles has assisted in lessening revenue declines for operators.

In 2020, industry revenue is expected to decrease an estimated 24.5% as the COVID-19 (coronavirus) pandemic has caused vast declines in new car sales and has resulted in the temporary closure of industry facilities.

Over the five years to 2020, the Automobile Engine and Parts Manufacturing industry has had a bumpy ride.

Operators in this industry manufacture gasoline engines and related components that are essential to the production of automobiles.

Therefore, industry revenue performance is directly linked to the production of vehicles.

As vehicle sales have increased over most of the past five years, so did demand for engines.

However, as new car sales growth slowed down in recent years, engine manufacturers’ revenue fell.

This decline was accelerated in 2020 as the outbreak of COVID-19 (coronavirus) decimated demand for new cars and therefore, demand for new auto engines.

Consequently, industry revenue has decreased, falling at an annualized rate of 5.1% to $28.4 billion over the five years to 2020, including an anticipated decline of 28.9% in 2020 alone.

This decline in revenue has contributed to declining industry profit as well.

Operators in the Auto Parts Stores industry primarily sell new and used automotive parts and accessories, and may offer repair and installation services as well.

Over the five years to 2020, the industry has experienced fairly stable, albeit slow, growth.

Over the period, the industry benefited from increased levels of per capita disposable income, which enabled more consumers to spend on industry services.

Moreover, the average age of the vehicle fleet expanded slightly over the five years to 2020.

As vehicles become older, they require more frequent maintenance and repairs, which bolsters demand for industry products.

However, the industry is in a period of long-term stagnation, with profit declining and little room for substantial revenue expansion.

Revenue is estimated to grow only 0.9% per year on average to $62.7 billion over the five years to 2020.

Revenue for the Auto Parts Wholesaling industry is expected to have declined over the five years to 2020 at an annualized rate of 2.5% to $173.5 billion.

This rate includes an anticipated 10.3% decline in 2020 alone, as the COVID-19 (coronavirus) outbreak weakens new car sales.

Amid widespread stay-at-home orders, unemployment has spiked in 2020, discouraging consumers from making large purchases, such as automobiles.

Furthermore, consumers are driving less due to the prevalence of working from home, lessening consumers’ need for new cars.

Therefore, automobile manufacturers have reduced and even halted production, weakening demand for industry products.

Research

expects the number of new cars sold domestically to decline 29.9% in 2020 alone.

As a result, industry profit (measured as earnings before interest and taxes) is expected to decline notably during the current period.

The Auto Windshield Repair Services industry has experienced growth over the five years to 2020.

However, this growth was volatile due to conflicting trends that have created fluctuations in demand for industry operators from year-to-year.

For instance, as per capita disposable income increased, more consumers opted to purchase newer vehicles.

With improved safety features that decrease the likelihood of a car crash, new car sales severely hindered revenue growth during the early half of the five-year period.

Conversely, many consumers who initially postponed nonessential windshield repairs and replacements have also sought the services of industry operators due to increases in disposable income and consumer confidence.

Over the five years to 2020, revenue is expected to grow an annualized 1.4% to $5.5 billion, despite an increase of 0.3% in 2020.

Over the past five years, the Automated Guided Vehicle (AGV) Manufacturing industry has rapidly expanded.

Industry operators design, manufacture and install AGVs, which are mobile robots used for material handling and tracking or repetitive tasks.

Persistent economic growth has been driven by strong gains in consumer spending.

As a result, more manufacturers, logistics companies and others purchased AGVs to move the rising amount of goods throughout their facilities while reducing manual labor costs.

In particular, operators in these sectors used AGVs to improve efficiency and reduce operating costs in the long term.

As a result, industry revenue is expected to climb at an annualized rate of 25.5% to $804.5 million over the five years to 2020, including a 10.7% increase in 2020 alone.

Pain Galleries and auction houses that sell original works of art make up the Art Dealers market. The sector is extremely divided, with the majority of operators employing only one or four people. There are only a few major auction houses in the industry, such as Sotheby’s and Christie’s. The Art Dealers sector has benefited from growth in disposable income and the percentage of households making more than $100,000 over the five years to 2020. However, the era was also characterized by political and economic instability, which caused sales declines sufficient to offset growth. Overall, sales for the Art Dealers sector is expected to fall by 5.9 percent on an annualized basis, totaling $7.5 billion. Revenue is expected to decline 28.7 percent in 2020 due to the COVID-19 (coronavirus) pandemic and its economic implications. Profitability in the industry is also expected to fall.

Art Supply Stores offer a wide variety of art materials, from art mediums, canvases and surfaces, art equipment and accessories, and sculpting and modelling items. Because of its decentralized structure, the market is dominated by diverse macroeconomic factors rather than product-specific patterns. Individual segments, on the other hand, lead to complex changes in artists’ medium and surface preferences. Rising per capita disposable income has increased demand around the retail sector across the next five years, up to 2020. However, art supplies stores are facing heightened competition from big-box supermarkets and online rivals, which is diminishing the benefits of increased investment. As a result, market income is expected to fall by an annualized 2.6 percent to $789.2 million over the next five years, reaching $789.2 million in 2020. Industry sales is expected to fall 7.1 percent in 2020 due to global slowdowns and temporary shop closures caused by the COVID-19 (coronavirus) pandemic.

Over the five years leading up to 2020, the Armored Vehicle Manufacturing industry experienced substantial expansion. Combat armoured vehicles, such as infantry fighting vehicles, armored personnel carriers, mine-resistant ambush protected (MRAP) vehicles, self-propelled artillery, and armored utility vehicles, are researched, developed, manufactured, modified, and repaired by industry operators. Prior to the five-year mark, industry sales plummeted precipitously as US spending on industry goods decreased. However, in the current five-year cycle, the United States started to boost military budgets and scale up key business projects, reversing the trend. As a result, sector income is forecast to grow at an annualized rate of 3.6 percent to $2.6 billion over the next five years, including a 2.2 percent decrease in 2020 due to the completion of such projects.