Based on the expert analysis and our database of 70+ Global industries, 麻豆区 presents a list of the Industries with the Biggest Increase in Profit Margin Global 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: 2.4pp
The industry will increase at a CAGR of 0.8% to $2.3 trillion over the five years to 2023, including a growth of 13.9% in 2023 alone. Global tourism has performed well during most of the five-year period, with emerging economies stimulating growth. Countries in Asia and South America have experienced robust growth in per capita income, which has enabled consumers in these regions to take overseas trips in increasing numbers. But because of COVID-19, industry revenue collapsed 40.1% in 2020. The global outbreak had an enormous effect on all tourism-related industries as many countries suspended international travel and limited the... Learn More
Percentage Point Increase for 2024: 1.7pp
Over the five years to 2023, the Global Hotels and Resorts industry has expanded. Initially, strong growth before the pandemic occurred as consumers and businesses became more confident about their finances and spent more liberally on luxuries, including travel. This factor resulted in a substantial increase in hotel rooms and occupancy rates, two indicators of a hotel's performance. Global tourist arrivals were also steadily increasing until a drastic drop in 2020 due to the worldwide spread of COVID-19. In 2020 alone, industry revenue declined 40.1% due to the pandemic effect. The pandemic has enormously influenced all tourism-related industries, as many... Learn More
Percentage Point Increase for 2024: 1.5pp
Global apparel manufacturers have benefited from strengthening consumer spending in developed economies combined with rapidly growing emerging economies in recent years. However, sudden changes in how consumers shopped worldwide following the COVID-19 pandemic shifted its trajectory. Dips in global consumer spending and lockdowns dropped production at factories. Even as economies reopened, bottlenecks and supply chain woes punctured footwear production globally, while rising costs for everything from cotton to crude oil shot up production costs. Uneven economic recoveries, recession concerns and inflation continue to strain performance despite surging consumer demand. In all, industry-wide revenue has been declining at a CAGR of... Learn More
Percentage Point Increase for 2024: 1.5pp
The Global Military Aircraft and Aerospace Manufacturing industry has continued to expand amid rising geopolitical tensions. The United States, other Western governments and Asian countries remain the largest markets for defense contractors. Countries continue to bolster their defenses by purchasing more military aircraft, missiles, satellites, radars and avionics. Overall, revenue is expected to grow at a CAGR of 0.4% to $316.6 billion over the five years to 2023, including a 1.5% in 2023 alone as profit creeps downward to 7.3%, barring supply chain disruptions. Non-Western countries have increased spending on defense.
Emerging economies have allowed more nations to spend on military... Learn More
Percentage Point Increase for 2024: 1.4pp
Despite rising levels of airborne passenger and cargo traffic throughout much of the period, revenue for the Global Airlines industry has declined over the five years to 2023 as volatile fuel prices and growing competition, as well as COVID-19, have placed downward pressure on industry revenue. At the same time, recent growth in global per capita income and other solid macroeconomic indicators fueled demand for airline passenger transportation before the pandemic. Overall, industry revenue is estimated to decrease an annualized 3.8% to $762.8 billion over the five years to 2023, despite an expected expansion of 5.3% in 2023 alone, stemming... Learn More
Percentage Point Increase for 2024: 1.0pp
Engineering companies apply the physical laws and principles of engineering to design and develop structures, machines, materials, instruments and other processes and systems. Services also include providing advice, feasibility studies, designs and technical services for construction or development. The performance of the industry relies on investment trends and the overall health of the economy to fuel projects where engineering services are needed. Strong investment in major markets, such as the United States, Europe and East Asia, has driven industry growth in recent years. Global engineering services revenue has been expanding at a CAGR of 3.9% over the past five years... Learn More
Percentage Point Increase for 2024: 1.0pp
The Global Movie Production and Distribution industry, the success of which hinges on the discretionary spending of moviegoers, has grappled with production disruptions and the transition to digital content. The North American, European and North Asian markets account for more than four-fifths of global revenue, and when disposable income and leisure time decline, so too does movie revenue. The COVID-19 pandemic rattled movie production, grinding production to a halt across the world as global revenue was reduced by one-third in 2020. Despite a rapid rebound, the operating difficulties wrought by the pandemic have remained and the digital transition has continued... Learn More
Percentage Point Increase for 2024: 0.9pp
The Global Spirits Manufacturing industry has benefited from premiumization trends in both developed and emerging economies over the past five years. Emerging markets like China and India have picked up the slack from declines in Eastern Europe resulting from political tensions and government intervention. Spirit consumption in emerging markets has flourished alongside population growth and urbanization, while consumers in developed economies have spent more on spirits by trading up to premium products. The rising trend of ready-to-drink cocktails has fueled growth in developed economies, staving off competition from substitute beverages like wine and beer. Over the past five years, revenue... Learn More
Percentage Point Increase for 2024: 0.6pp
Pharmaceutical manufacturers have benefited from an aging population in developed economies and a growing middle class in emerging economies, which has provided a larger customer base for companies in the Global Pharmaceuticals and Medicine Manufacturing industry. Many manufacturers have also tapped into regional demand for pharmaceuticals that may differ from developed markets and have expanded their global presence to tap into regional market needs and develop relationships with government entities that can accelerate drug approval or implement high reimbursement rates. The outbreak of COVID-19 presented drug manufacturers with new opportunities; however, only very few drug manufacturers were able to participate... Learn More
Percentage Point Increase for 2024: 0.5pp
Global travel agencies' revenue has grown despite core services dramatically changing due to consumers using online channels to research and book travel. Online booking agents now play a much more significant role alongside traditional brick-and-mortar travel agencies. International tourism thrived before COVID-19, but it severely cut into revenue in 2020, followed by a rebound in 2021 as the economy returned to normal. Global travel agencies' revenue has expanded at a CAGR of 2.5% to $474.7 billion through the end of 2023, including a 9.9% increase in 2023 alone.
Brick-and-mortar travel agencies have reinvented themselves to remain relevant and competitive as online... Learn More
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