The turnover in the industrial gases market in Italy exhibited fluctuations over the past decade. Between 2013 and 2023, the turnover saw periods of decline, notably in 2014 and 2020, with the lowest point at €1.99 billion for three consecutive years starting in 2014. However, there were notable recoveries, with a significant peak in 2018 reaching €2.25 billion. As of 2023, the turnover stood at €2.13 billion, demonstrating a slight recovery from the prior dip. The year-on-year variation over the last two years showed minor increases of 0.2% and 0.19% respectively. The 5-year CAGR leading up to 2023 was slightly negative at -1.03%.
Looking forward, the forecast projects modest growth, with a 5-year CAGR of 0.12% and an overall forecasted growth rate of 0.61% by 2028, returning to €2.15 billion. Future trends to watch for include advancements in sustainable industrial gas production, demand increase driven by green energy initiatives, and technological innovations in gas applications that may drive market growth.
