Between 2013 and 2023, the industrial gases market in Spain displayed significant fluctuations. The market value decreased from 1.32 billion euros in 2013 to 1.20 billion euros in 2014, showing a -9.56% variation. Despite minor gains in 2015 and 2016, the market consistently grew, reaching 1.41 billion euros in 2023, reflecting a 3.9% increase from 2022. The CAGR over the last five years (2018-2023) stood at 1.34%, indicating moderate growth.
Future forecasts predict a steady upward trend. By 2028, the market is expected to reach 1.53 billion euros, with an average annual growth rate (CAGR) of 1.3%. This translates to an overall growth of 6.66% over the forecast period from 2023 to 2028.
Future trends to watch for:
- Technological advancements and innovations in industrial gas applications.
- Increased demand in emerging industries and healthcare sectors.
- Environmental regulations and sustainability initiatives affecting production and distribution.
- Potential impacts of geopolitical and economic factors on market stability.
