The industrial gases market in Austria experienced a steady decline from 2013 to 2015, reflected in significant year-on-year decreases. A period of recovery was observed between 2016 and 2019, with moderate annual growth. However, from 2020 onwards, the market faced another decline, characterized by minor fluctuations and a slight year-on-year decrease, reaching a value of 162.36 million Euros in 2023.
The Compound Annual Growth Rate (CAGR) over the last five years was -0.41%, indicating a marginal contraction in the market. Forecast data suggests a continued downward trend, with a projected CAGR of -0.5% from 2024 to 2028, implying that the market could further decline by approximately 2.49% over the next five years.
Future trends to watch for include technological advancements in gas production, increasing demand for sustainable and clean energy solutions, and potential regulatory changes that could impact market dynamics. Additionally, the development of emerging industries may present new opportunities for industrial gas applications.
