The industrial gases market in Portugal has demonstrated fluctuating trends from 2013 to 2023, with significant volume changes. In 2023, the market volume stood at 441.07 million cubic meters. Notably, the market experienced substantial growth in 2021, with a recovery momentum after a steep decline in 2020 due to global disruptions. A steady increase followed into 2022 and 2023, highlighted by a year-on-year growth rate of 1.92% in 2023. The five-year CAGR indicates a 2.96% yearly average growth from 2018-2023.
Future trends to watch include:
- Advancements in technology for efficient gas production and distribution.
- Increased industry focus on sustainable and green practices.
- Potential impact of regulatory changes on market dynamics.
- Growing demand from emerging sectors such as healthcare and electronics.
