The industrial gases market in Austria displayed growth from 2013 to 2017, peaking in 2017 with a volume of 1.7177 billion cubic meters. However, from 2018 onwards, the market experienced a consistent decline, with the volume dropping to 1.3752 billion cubic meters by 2023. This decline translates to a -3.57% year-on-year decrease for 2023, following a broader downward trend marked by an average CAGR of -3.06% over the past five years.
For the forecast period from 2024 to 2028, the market is expected to continue its downward trajectory with an anticipated CAGR of -3.16%, resulting in a total volume decrease of -14.83% by 2028. By 2028, the volume is expected to drop to 1.1284 billion cubic meters.
Future trends to watch for include technological advancements in industrial gas production, shifting regulatory landscapes, and emerging demands from new industries that could potentially alter the demand dynamics in this sector.
