The industrial gases market in Spain experienced a notable growth over the past decade, starting from 680.02 million euros in 2013 to 1026.6 million euros in 2023. Despite minor fluctuations, the market maintained an overall upward trajectory. The market saw significant growth spurts in 2014, 2015, and 2017, with annual growth rates of 8.29%, 7.73%, and 9.82% respectively. However, there were years of contraction as seen in 2016 (-0.23%) and 2020 (-4.58%). The market rebounded strongly from 2020 onwards, culminating in a steady CAGR of 2.5% from 2018 to 2023.
Future trends to watch for:
- The forecasted 5-year CAGR from 2024 to 2028 stands at 2.15%, indicating a more moderate but steady growth pace compared to the past decade.
- Future trends in environmental regulations and technological advancements in gas production could shape market dynamics significantly.
- Potential disruptions due to geopolitical factors and supply chain challenges could impact growth projections.
