The industrial gases market volume in Germany stood at 2.3651 billion cubic meters in 2023. Examining historical data reveals initial declines from 2013 to 2016, followed by fluctuating growth and a significant drop in 2020, likely due to the COVID-19 pandemic. However, the market rebounded impressively in 2021 and continued to record positive year-on-year growth through 2022 and 2023, showcasing resilience and recovery.
Year-on-Year Variations:
• 2022-2023: +0.48%
• 2021-2022: +5.78%
5-Year Compound Annual Growth Rate (CAGR):
• 2018-2023: +1.27%
The forecast indicates a steady, albeit modest, growth with a forecasted 5-year CAGR of 0.4% and an overall growth rate of 2.04% by 2028.
Trends to watch for include technological advancements in gas production and distribution, increased industrial activity, and environmental regulations driving demand for cleaner industrial processes.
