1. Global Life & Health Insurance Carriers
Revenue for 2021: $4,384,3B
The Global Life and Health Insurance Carriers industry has decreased over the five years to 2020 despite growth in global demand for insurance products. The industry provides crucial risk management services to downstream consumers and is a vital part of the financial sector, particularly with respect to the industry's massive asset holdings. Industry operators protect individuals from current, immediate and long-term costs arising from illness, injury and death. Life and health insurers provide protection at a fraction of the potential loss by merging various risks. The role of life and health insurers has become increasingly important as the global population.
2. Global Pension Funds
Revenue for 2021: $3,564,4B
The Global Pension Funds industry has experienced strong growth as a result of favorable investment returns and growing levels of contributions over the majority of the five years to 2020. Pension funds, composed of defined benefit (DB) and defined contribution (DC) plans, have been the primary means for meeting the retirement requirements of an aging global population. Industry revenue consists of contributions, investment income, net sales of securities and more. Positive investment returns from equities have driven the growth of revenue despite volatility in financial markets. As a result, the Global Pension Funds industry is expected to grow an annualized.
3. Global Commercial Real Estate
Revenue for 2021: $3,167,8B
The Global Commercial Real Estate industry grew over much of the five years to 2020 after a slow start. Investor confidence took a hit in 2015, which continued into 2016 largely due to global political uncertainty and low oil prices. This negatively affected investment in the industry and revenue declined 0.6% in 2016. Global investment has since rebounded strongly amid strong global economic growth, which propelled industry revenue to recover. However, the outbreak of COVID-19 (coronavirus) is expected to severely constrict demand as economic uncertainty skyrockets. As a result, industry revenue is expected to fall at an annualized rate of.
4. Global Car & Automobile Sales
Revenue for 2021: $3,138,5B
Over the five years to 2020, revenue for the Global Car and Automobile Sales industry is expected to fall, mainly due to the economic fallout as a result of the COVID-19 (coronavirus) pandemic. The industry experienced growth during the beginning of the period as rising global per capita income and increased global consumer spending encouraged global auto sales, primarily in emerging economies. However, several factors have limited industry expansion. For example, several European nations experienced weak economic growth. The United States also experienced a slump in auto sales going into 2020 after previously posting strong sales between 2009 and 2016.
5. Global Car & Automobile Manufacturing
Revenue for 2021: $2,689,0B
Over the five years to 2021, revenue for the Global Car and Automobile Manufacturing industry has decreased due to the COVID-19 (coronavirus) pandemic. Despite improving economic conditions, IBISWorld anticipates this to not be enough to offset the overall decline experienced in 2020. However, industry demand has been lifted by significant improvements on the technological front, particularly in regard to vehicle fuel efficiency, entertainment and autonomous driving capabilities. Automakers have gradually put a greater emphasis on increasing fuel efficiency in light of stricter regulatory requirements and consumer demand. Moreover, internet connectivity, advances in safety features and navigation capabilities are becoming staples.
6. Global Direct General Insurance Carriers
Revenue for 2021: $2,535,2B
The Global Direct General Insurance Carriers industry has encountered headwinds over the five years to 2020, as a softening insurance market, low interest rates and numerous catastrophic disasters have hurt operators in major mature markets. However, the growth of emerging markets has outpaced the slowdown in mature markets and has driven the growth of the industry over the past five years. The growth of the middle class in emerging markets, such as China, has underpinned the expansion of demand that has driven the industry's growth as more consumers have purchased insurance products. As a result, industry revenue is forecast to.
7. Global Commercial Banks
Revenue for 2021: $2,489,0B
The Global Commercial Banks industry has continued recovering as major developed markets experience increasing commercial banking activity as a result of strong economic performance over most of the five years to 2021. The industry closely follows global economic performance since demand for loans is heavily influenced by business and consumer confidence as well as the level of activity that requires financing. The strong global economic performance fueled by the United States and emerging markets, such as China and South East Asia, are expected to improve from increased aggregate private investment, which has supported loan origination.
8. Global Oil & Gas Exploration & Production
Revenue for 2021: $2,073,5B
Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from oil and gas reserves across the world. Over the five years to 2021, the prices of crude oil and natural gas have fluctuated despite steady growth in production, which has caused wild revenue fluctuations. Slowing global demand alongside continually rising supply caused prices to plummet in 2016 and 2020, although they have begun to recover in 2021. Overall, industry revenue is forecast to decline an annualized 2.2% to $2.1 trillion over the five years to 2021, with an expected rise.
9. Global Auto Parts & Accessories Manufacturing
Revenue for 2021: $1,872,8B
Over the five years to 2020, the Global Auto Parts and Accessories Manufacturing industry is expected to decline, as automakers, the industry's largest customers, have been hurt by the economic fallout stemming from the COVID-19 (coronavirus) pandemic. Barring 2020, per capita income levels climbed across the globe and the burgeoning middle classes in emerging economies were able to purchase their own cars. As demand for new automobiles has risen, original equipment manufacturers have demanded more components from industry operators. Additionally, the auto parts aftermarket has helped generate revenue as average vehicle ages moved higher. Demand for this segment tends to.
10. Global Tourism
Revenue for 2021: $1,541,0B
The Global Tourism industry is expected to increase at an annualized rate of 0.2% to $1.5 trillion over the five years to 2020. Global tourism has performed well during the five-year period, with emerging economies continuing to stimulate growth. Moreover, 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. However, due to the global spread of COVID-19 (coronavirus) in 2020, industry revenue is expected to decline 8.9% over the year.
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Revenue for 2021: $4,384,3B
The Global Life and Health Insurance Carriers industry has decreased over the five years to 2020 despite growth in global demand for insurance products. The industry provides crucial risk management services to downstream consumers and is a vital part of the financial sector, particularly with respect to the industry's massive asset holdings. Industry operators protect individuals from current, immediate and long-term costs arising from illness, injury and death. Life and health insurers provide protection at a fraction of the potential loss by merging various risks. The role of life and health insurers has become increasingly important as the global population.
2. Global Pension Funds
Revenue for 2021: $3,564,4B
The Global Pension Funds industry has experienced strong growth as a result of favorable investment returns and growing levels of contributions over the majority of the five years to 2020. Pension funds, composed of defined benefit (DB) and defined contribution (DC) plans, have been the primary means for meeting the retirement requirements of an aging global population. Industry revenue consists of contributions, investment income, net sales of securities and more. Positive investment returns from equities have driven the growth of revenue despite volatility in financial markets. As a result, the Global Pension Funds industry is expected to grow an annualized.
3. Global Commercial Real Estate
Revenue for 2021: $3,167,8B
The Global Commercial Real Estate industry grew over much of the five years to 2020 after a slow start. Investor confidence took a hit in 2015, which continued into 2016 largely due to global political uncertainty and low oil prices. This negatively affected investment in the industry and revenue declined 0.6% in 2016. Global investment has since rebounded strongly amid strong global economic growth, which propelled industry revenue to recover. However, the outbreak of COVID-19 (coronavirus) is expected to severely constrict demand as economic uncertainty skyrockets. As a result, industry revenue is expected to fall at an annualized rate of.
4. Global Car & Automobile Sales
Revenue for 2021: $3,138,5B
Over the five years to 2020, revenue for the Global Car and Automobile Sales industry is expected to fall, mainly due to the economic fallout as a result of the COVID-19 (coronavirus) pandemic. The industry experienced growth during the beginning of the period as rising global per capita income and increased global consumer spending encouraged global auto sales, primarily in emerging economies. However, several factors have limited industry expansion. For example, several European nations experienced weak economic growth. The United States also experienced a slump in auto sales going into 2020 after previously posting strong sales between 2009 and 2016.
5. Global Car & Automobile Manufacturing
Revenue for 2021: $2,689,0B
Over the five years to 2021, revenue for the Global Car and Automobile Manufacturing industry has decreased due to the COVID-19 (coronavirus) pandemic. Despite improving economic conditions, IBISWorld anticipates this to not be enough to offset the overall decline experienced in 2020. However, industry demand has been lifted by significant improvements on the technological front, particularly in regard to vehicle fuel efficiency, entertainment and autonomous driving capabilities. Automakers have gradually put a greater emphasis on increasing fuel efficiency in light of stricter regulatory requirements and consumer demand. Moreover, internet connectivity, advances in safety features and navigation capabilities are becoming staples.
6. Global Direct General Insurance Carriers
Revenue for 2021: $2,535,2B
The Global Direct General Insurance Carriers industry has encountered headwinds over the five years to 2020, as a softening insurance market, low interest rates and numerous catastrophic disasters have hurt operators in major mature markets. However, the growth of emerging markets has outpaced the slowdown in mature markets and has driven the growth of the industry over the past five years. The growth of the middle class in emerging markets, such as China, has underpinned the expansion of demand that has driven the industry's growth as more consumers have purchased insurance products. As a result, industry revenue is forecast to.
7. Global Commercial Banks
Revenue for 2021: $2,489,0B
The Global Commercial Banks industry has continued recovering as major developed markets experience increasing commercial banking activity as a result of strong economic performance over most of the five years to 2021. The industry closely follows global economic performance since demand for loans is heavily influenced by business and consumer confidence as well as the level of activity that requires financing. The strong global economic performance fueled by the United States and emerging markets, such as China and South East Asia, are expected to improve from increased aggregate private investment, which has supported loan origination.
8. Global Oil & Gas Exploration & Production
Revenue for 2021: $2,073,5B
Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from oil and gas reserves across the world. Over the five years to 2021, the prices of crude oil and natural gas have fluctuated despite steady growth in production, which has caused wild revenue fluctuations. Slowing global demand alongside continually rising supply caused prices to plummet in 2016 and 2020, although they have begun to recover in 2021. Overall, industry revenue is forecast to decline an annualized 2.2% to $2.1 trillion over the five years to 2021, with an expected rise.
9. Global Auto Parts & Accessories Manufacturing
Revenue for 2021: $1,872,8B
Over the five years to 2020, the Global Auto Parts and Accessories Manufacturing industry is expected to decline, as automakers, the industry's largest customers, have been hurt by the economic fallout stemming from the COVID-19 (coronavirus) pandemic. Barring 2020, per capita income levels climbed across the globe and the burgeoning middle classes in emerging economies were able to purchase their own cars. As demand for new automobiles has risen, original equipment manufacturers have demanded more components from industry operators. Additionally, the auto parts aftermarket has helped generate revenue as average vehicle ages moved higher. Demand for this segment tends to.
10. Global Tourism
Revenue for 2021: $1,541,0B
The Global Tourism industry is expected to increase at an annualized rate of 0.2% to $1.5 trillion over the five years to 2020. Global tourism has performed well during the five-year period, with emerging economies continuing to stimulate growth. Moreover, 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. However, due to the global spread of COVID-19 (coronavirus) in 2020, industry revenue is expected to decline 8.9% over the year.
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