fast growing industries
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Special Report April 2012 1
Top 10 Fastest-Growing Industries
Special Report
April 2012
Top 10 FastestGrowing Industries
By Lauren Setar & Matthew MacFarland
With environmentally friendly practices or technological advances, these industries are outpacing the economic recovery.
Consumer
concerns about health and the environment bode well for some industries
Across the United States, industries, businesses and consumers are climbing out of the Great Recession’s lows. US gross domestic product is forecast to grow 3.3% per year over the next five years, a welcome change from the meager growth of 0.6% per year between 2007 and 2012. Some industries, however, aren’t just recovering – they’re flourishing.
IBISWorld has compiled a list of these standout industries based on their contributions to the economy as a whole (measured as industry value added), absolute revenue growth and establishment growth over the past 10 years, as well as performance expected through 2017. Whether by focusing on environmentally friendly practices and operations or benefiting from technological advances, these industries are expected to continue their meteoric rise and far outpace the rest of the economy.
Thinking green
Over the past decade, the dramatic rise in energy costs and an increasingly vocal, environmentally conscious public have led to the growth of green industries. The
Solar Panel Manufacturing industry has been at the forefront of the green industrial movement with average annual
revenue growth of 32.3% from 2002 to
2012, including expected growth of 9.4% in 2012. As the federal government looks to reduce the United States’ dependency on fossil and other non-renewable fuels, green energy firms have reaped the benefit of substantial subsidies. Without assistance, solar power generation firms would have little chance against entrenched, traditional fuel sources.
Moreover, falling silicon
Special Report April 2012 1
Top 10 Fastest-Growing Industries
Special Report
April 2012
Top 10 FastestGrowing Industries
By Lauren Setar & Matthew MacFarland
With environmentally friendly practices or technological advances, these industries are outpacing the economic recovery.
Consumer
concerns about health and the environment bode well for some industries
Across the United States, industries, businesses and consumers are climbing out of the Great Recession’s lows. US gross domestic product is forecast to grow 3.3% per year over the next five years, a welcome change from the meager growth of 0.6% per year between 2007 and 2012. Some industries, however, aren’t just recovering – they’re flourishing.
IBISWorld has compiled a list of these standout industries based on their contributions to the economy as a whole (measured as industry value added), absolute revenue growth and establishment growth over the past 10 years, as well as performance expected through 2017. Whether by focusing on environmentally friendly practices and operations or benefiting from technological advances, these industries are expected to continue their meteoric rise and far outpace the rest of the economy.
Thinking green
Over the past decade, the dramatic rise in energy costs and an increasingly vocal, environmentally conscious public have led to the growth of green industries. The
Solar Panel Manufacturing industry has been at the forefront of the green industrial movement with average annual
revenue growth of 32.3% from 2002 to
2012, including expected growth of 9.4% in 2012. As the federal government looks to reduce the United States’ dependency on fossil and other non-renewable fuels, green energy firms have reaped the benefit of substantial subsidies. Without assistance, solar power generation firms would have little chance against entrenched, traditional fuel sources.
Moreover, falling silicon