From 2012 to 2022, the industrial gases market in Belgium experienced notable fluctuations. Early data shows a growth phase until 2013, followed by a period of decline until 2017. A significant resurgence was observed in 2018, continuing until 2019, only to dip in 2020. A rebound was seen in 2021 and 2022, culminating in substantial growth figures.
Key variations:
- 2012 to 2013: 1.94% year-on-year growth
- 2013 to 2014: 1.9% year-on-year growth
- 2014 to 2015: -1.04% year-on-year decline
- 2015 to 2016: -1.05% year-on-year decline
- 2016 to 2017: -5.13% year-on-year decline
- 2017 to 2018: -5.41% year-on-year decline
- 2018 to 2019: 18.9% year-on-year growth
- 2019 to 2020: 10.44% year-on-year growth
- 2020 to 2021: -18.56% year-on-year decline
- 2021 to 2022: 16.51% year-on-year growth
- 2022: 7.08% year-on-year growth
The CAGR over various periods further highlights these variations, peaking at 5.94% for the last five years ending in 2022.
In 2023, the market stood at €500 million, continuing its recovery and growth trend. Future trends to watch include technological advancements in gas production, regulatory changes, and shifts in major industrial consumers' demand patterns. The market may also see increased competition and consolidation amongst key players, affecting overall market dynamics.
How does Belgium rank in Industrial Gases Market Size Value?
| # | 14 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,428,600,000 | 2023 | +0.22% | -0.67% | View data |
| 2 | 2 Italy | 1,218,600,000 | 2023 | -1.91% | +0.77% | View data |
| 3 | 3 Spain | 1,026,600,000 | 2023 | +3.09% | +2.5% | View data |
| 4 | 4 Netherlands | 804,330,000 | 2023 | -0.87% | -0.46% | View data |
| 5 | 5 Poland | 483,380,000 | 2023 | +2.51% | +2.56% | View data |
| 6 | 6 Belgium | 478,520,000 | 2023 | +1.66% | +2.67% | |
| 7 | 7 Finland | 323,510,000 | 2023 | +2.65% | +1.37% | View data |
| 8 | 8 Czech Republic | 170,670,000 | 2023 | -1.87% | -2.53% | View data |
