The Fastest Growing US Industries Of 2014
While the overall American economy might be in a worrying state, US-based industries have been doing very well over the last twelve months. It’s always difficult to work out which are the fasting growing marketplaces. We’ve made our conclusions based on the amount of money taken during 2014 compared to the same figure from the previous two years. With that in mind, you can be sure that all the different industries mentioned in this post are hot property at the moment. Indeed, there are thousands of new companies reaching the market each month that come under these industry umbrellas.
Black gold (oil and gas)
America has always been famous for having one of the most-successful oil and gas industries in the world, and things don’t look set to change anytime soon. While the wars in Afghanistan and Iraq might have meant little to the average American citizen, they have vastly improved the state of the oil industry. UK and US drilling firms stand to make 25% of the profit from new Iraqi oil wells for the next twenty-five years under regulations that passed a few months ago. That means the oil industry will continue to go from strength to strength for a long time yet.
While many industries have taken a hit over the last couple of years due to the global financial downturn, distribution in the US is up considerably. That is because lots of savvy business people realized that using foreign companies simply wasn’t helping the economy. Sure, prices were a little cheaper. However, that just means there were fewer jobs for American citizens. On top of that, the service provided was inferior. That should help to explain why the distribution industry is slowly coming back home.
Some people would put this industry under oil and gas. Even so, companies like Inline Services that deal with the maintenance of pipelines have clients within many marketplaces. In the past, oil and gas companies would have to deal with their own maintenance, and that meant employing a lot of expert staff who knew how to handle the job. Thankfully, a new industry has sprung up over the last couple of decades. These days, the drilling companies simply outsource the job.
As numerous car manufacturers have gone out of business over the last few years, you would be forgiven for thinking the automobile industry is suffering. However, that simply isn’t the case. Established names like Ford are still producing record amounts of profit, and there are lots of new manufacturers and designers hitting the markets.
Now you know a bit more about some of the fastest growing industries in the US, we hope you will have a better idea about which you should join in the near future. As with anything in the business world, small changes can make a huge difference. So, now is the best time to jump on the bandwagon. Will these industries continue to grow at such high speeds as we move forward into 2015? That remains to be seen.