Based on the expert analysis and our database of 1,300+ US industries, Â鶹Éç presents a list of the Industries with the Biggest Decline in Imports in the US in 2024
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View a list of the Top 25 industries with the biggest decline in importsDecline in Imports for 2024: -44.4%
Sheep farmers have enjoyed growth over the current period. Rising red meat prices, which have stemmed from rising demand in downstream industries like slaughterhouses, have led to price-based gains for sheep farmers. Industry-wide revenue has been climbing at a CAGR of 1.6% over the past five years and is expected to total $802.8 million in 2023, when revenue will decrease by an estimated 0.5%.
The past five years have been tumultuous for profit. While sheep farmers enjoyed growth following the outbreak of COVID-19 as import penetration dropped, they have endured the effects of the COVID-19 pandemic on labor, as these... Learn More
Decline in Imports for 2024: -42.3%
The Headphone Manufacturing industry has grown considerably. Although competition from imports remains high, the industry has benefited from many technological developments sustaining demand for higher-quality domestic products, boosting exports. While foreign manufacturers win over price-sensitive consumers, domestic manufacturers can specialize in higher-end headphones, like Bluetooth-enabled and higher sound-quality headphones. In particular, rapid growth in the Bluetooth headphones product segment has benefited the industry, as many consumer electronics products offer wireless capabilities. Also, niche markets like gaming and luxury headphones have enabled certain companies to specialize in various headphones. Overall, industry-wide revenue has been increasing at a CAGR of 12.1% over... Learn More
Decline in Imports for 2024: -36.8%
Pesticide manufacturers produce chemical and pesticide products to manage pests and diseases. Through 2023, volatility from downstream markets has reduced purchases of pesticides, limiting the industry's growth. Alongside demand, industry revenue is forecast to decline at a CAGR of 1.0% to $16.8 billion, including a 1.2% decrease in 2023 alone.
Amid supply chain disruptions for seeds and grains, crop production declined between 2017 and 2019, stifling growth during those years. Profit has also fallen, accounting for an estimated 3.9% of revenue in 2023, down from 4.3% in 2018. Fluctuations in demand and fluctuating purchasing costs of key inputs, like oil, natural... Learn More
Decline in Imports for 2024: -32.7%
Demand for Men's and Boys' apparel manufacturing is derived from downstream markets as well as trade conditions. Trade issues presented the industry with a tough road during the five-year period, beginning with the trade war in 2019 between the US and China, which led to messy trade relations, hindering industry exports. The trade war was preceded by COVID-19 and the related disruptions that ensued in 2020, further depressing exports and hindering revenue. To contend with the high level of competition from foreign manufacturers, players in the industry must offshore their manufacturing process to utilize the cheaper labor costs. Falling at... Learn More
Decline in Imports for 2024: -28.6%
The industry has been relatively resilient, with revenue ultimately growing in recent years. As much of the agricultural sector was affected by the COVID-19 pandemic during 2020, industry revenue increased, unlike most crop growing industries. Overall, weather patterns are historically responsible for fluctuations in price and production. Following Hurricane Ida in 2021, industry performance was affected as production became limited due to the aftermath of the storm. Revenue is expected to rise at a CAGR of 1.4% to reach $1.3 billion in 2023, when revenue is set to fall 4.6% as falling fertilizer prices are passed along and per capita... Learn More
Decline in Imports for 2024: -24.4%
The Women's, Girls' and Infants' Apparel Manufacturing industry is in a state of long-term decline, as low levels of domestic product innovation and a falling number of industry operators have caused revenue to decrease over the five years to 2023. Largely as a result of overwhelming import competition, industry revenue fell an annualized 2.9% to $3.2 billion over the five years to 2023, including an increase of 0.7% in 2023. Labor costs are significantly lower in developing countries and automation for apparel manufacturing is somewhat limited. As a result, most companies have moved overseas and domestic operators satisfy a relatively... Learn More
Decline in Imports for 2024: -23.1%
The industry produces potatoes, sweet potatoes and yams for sale to fresh markets and food processors. Potatoes are the most widely produced vegetable in the United States and form a well-accepted component of prepared dishes and snack foods, including French fries and potato chips. In fact, over 50.0% of the annual potato crop is destined to become French fries, with about 70.0% of industry revenue stemming from sales to food processors in 2021 (latest data available). Overall, potato farmers have worked to reduce production to uplift potato prices, which has had a mixed effect on industry revenue growth. In recent... Learn More
Decline in Imports for 2024: -22.0%
The Toy, Doll and Game Manufacturing industry has struggled over the five years to 2023. The COVID-19 pandemic, volatile input costs, and rising wages have pressured profit, but nothing has constricted the industry more than competition from overseas manufacturing. Industry competitors, particularly in China, have taken advantage of lax labor laws and a close proximity to input materials to create similar products at significantly cheaper costs. American toy manufacturers simply can't keep up with the low prices offered by import competition, and renewed trade in the wake of the pandemic has upped imports even further. As it currently stands, imports... Learn More
Decline in Imports for 2024: -19.4%
Lithium battery manufacturers produce batteries for a variety of purposes including vehicles, mobile phones and other consumer electronics. The rapid rise of electric vehicles (EVs) has bolstered manufacturers, as consumer preference has steadily shifted away from gasoline-powered vehicles. This rise includes an agreement between Panasonic, a leading producer of lithium batteries, and the electric automaker Tesla to mass produce advanced lithium batteries. But this industry is highly globalized, with imports accounting for the majority of domestic demand. Less expensive labor both for upstream suppliers of input materials and for lithium battery manufacturers themselves combined with inexpensive shipping costs have incentivized... Learn More
Decline in Imports for 2024: -16.9%
The Commercial Cooking Equipment Manufacturing industry has grown, despite volatility in recent years. Through 2019, rising consumer spending, spurred by greater per capita disposable income and increased aggregate private investment, supported downstream demand. As consumers spent more on dining experiences, restaurants and other food-service companies invested in commercial cooking equipment to fulfill demand and adapt to the evolution of the restaurant industry. However, the COVID-19 pandemic injected volatility into the industry, as downstream demand dissipated in 2020 amidst widespread shutdown to stem the spread of the pandemic. Consumers have since returned to restaurants as the pandemic has abated, while downstream... Learn More
Based on the expert analysis and our database of 1,300+ US industries, Â鶹Éç presents a list of the Biggest Industries by Employment in the US in 2024
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, Â鶹Éç presents a list of the Biggest Industries By Revenue in the US in 2024
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