New York, NY (PRWEB) July 23, 2014
In the five years to 2014, IBISWorld estimates that revenue for the Barbecue and Grill Manufacturing industry will increase in 2014. During the past five years, industry growth was initially hampered by the collapse of the housing market and the subsequent economic recession that ensued. The recession's impact on per capita disposable income diminished housing starts and private spending on home improvements, which ultimately caused industry revenue to fall in 2011. However, recovering downstream markets and more favorable consumer conditions have since led to revenue growth.
Prior to the recession, the industry benefited from a strong housing market, which caused many consumers to spend money on outdoor kitchens. The recession, however, significantly slowed demand for high-end grills in favor of more affordable imports. Furthermore, many consumers who were forced to downsize houses switched to more compact grills. Unfortunately for domestic manufacturers, growth in the number of inexpensive imports has eaten into the domestic market over the past decade. With improving consumer conditions, the Barbecue and Grill Manufacturing industry has returned to growth, particularly with the success of its higher-value products. The trend towards more expensive and advance barbecues and grills has allowed industry operators to widen their profit margins and combat increasing competition from imports.
In the five years to 2019, IBISWorld estimates that industry revenue will increase. Over the next five years, the industry will benefit from an increase in per capita disposable income and the continued recovery of the residential construction market. Furthermore, demand for high-end, domestically produced grills is expected to fend off import growing imports and drive growth over the next five years. As a result, imports will continue to increase in value; however, their proportion of domestic demand is expected to decrease over the next five years.
For more information, visit IBISWorld’s Barbecue and Grill Manufacturing in the US industry report page.
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IBISWorld industry Report Key Topics
The Barbecue and Grill Manufacturing industry comprises establishments that manufacture barbecue and grilling equipment, including gas and solid fuel barbecues, grills and braziers as well as parts and accessories. Other outdoor cooking equipment, like outdoor stoves, is excluded from this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.