The Industrial Gases Market in Germany has shown significant fluctuations over the years. From 2012 to 2016, the market experienced a consistent decline, with notable contractions year-on-year, reaching its lowest volume of 1.971 billion cubic meters in 2016. However, a positive turnaround began in 2017, reversing the declining trend with growth rates peaking in 2018 and 2019 at 8.37% and 7.73% respectively. Despite a sharp dip in 2020 due to external factors, a recovery was observed in subsequent years with volumes rebounding to 2.3537 billion cubic meters by 2022.
- The market volume stood at 2.3537 billion cubic meters in 2023, continuing the recovery trend begun in 2021.
- The year-on-year variation over the last two years (2022-2023) showed a continued recovery from the 2020 slump.
- Over the last five years, the CAGR indicated an average annual growth rate of 2.82%, suggesting a resilient bounce-back in the sector.
Future trends to watch for include advancements in green technologies, increased demand for medical gases, and potential impacts from regulatory changes and economic shifts. The ongoing recovery points towards a promising outlook for the industrial gases market in Germany.
