NAICS 2371 - Utility System Construction
This industry group comprises establishments primarily engaged in the construction of distribution lines and related buildings and structures for utilities (i.e., water, sewer, petroleum, gas, power, and communication). All structures (including buildings) that are integral parts of utility systems (e.g., storage tanks, pumping stations, power plants, and refineries) are included in this industry group.
Industry trends:
The fur goods industry, classified under NAICS 2371, is experiencing several notable qualitative trends. A prominent shift is towards ethical and sustainable sourcing, driven by increased consumer awareness and activism against animal cruelty. Companies are transitioning to faux fur and other animal-friendly alternatives to cater to this growing demand. This trend is complemented by advances in technology, producing high-quality faux fur that rivals real fur in aesthetics and functionality.
Another significant trend is the impact of regulation and policy changes, with many regions implementing stricter controls on the fur trade. This has led to a decline in traditional fur farming and has prompted industry players to explore synthetic options or diversify their product lines to include non-fur items.
The luxury fashion sector continues to influence the market, with some high-end brands committing to fur-free policies, while others innovate by blending fur with other materials for unique fashion statements. Customization and personalized fur goods are also on the rise, catering to affluent consumers seeking bespoke fashion.
Looking ahead, forecasts indicate that the fur goods industry will increasingly align with global sustainability goals, with a predicted rise in demand for cruelty-free and eco-conscious products. Technological innovations in fabric and manufacturing processes will likely enhance the quality of faux fur, making it a more attractive option for both consumers and producers. Regulatory landscapes will continue to evolve, posing both challenges and opportunities for industry players to innovate and adapt.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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