The industrial gases sector in the Netherlands has witnessed a continuous decline in hours worked, standing at 1.5505 million hours in 2023. Over the last two years, the hours worked saw a contraction: a 1.46% decline in 2022 followed by a 1.47% decline in 2023. The compound annual growth rate (CAGR) over the past five years averaged at -3.08%, indicating a persistent downward trend.
Looking forward, forecasted data suggests this declining trend will continue, albeit at a slower average annual rate of -1.2% from 2024 to 2028, translating to an overall reduction of 5.84% over the five-year period.
Future trends to watch for in the industrial gases sector include:
- Technological advancements and automation potentially reducing the necessity for labor hours.
- Shifts towards more sustainable practices and the impact of environmental regulations.
- Market demand fluctuations influenced by broader economic conditions and industrial activity.
