The industrial gas manufacturing closing inventories in Canada exhibited considerable volatility from 2013 to 2023. The inventory levels peaked at CAD 106.45 million in 2017, followed by a sharp decline, with a slight recovery and subsequent downtrend leading to 2023's inventory value of CAD 43.50 million. Notably, the last two years showed significant contractions with a -10.38% decrease in 2022 and an -11.46% decrease in 2023. Over the last five years, the compound annual growth rate (CAGR) was -4.39%, indicating a steady decline in inventory levels.
Going forward, the forecast reveals a continued downtrend with a projected inventory of CAD 16.17 million by 2028. The forecasted 5-year CAGR stands at -15.68%, with an overall decline of -57.37% from 2023 to 2028.
Future trends to watch for:
- Potential impacts of technological advancements and efficiency improvements in manufacturing processes.
- Shifts in demand for industrial gases in key sectors such as healthcare, energy, and manufacturing.
- Effects of regulatory changes and environmental policies on production and inventory levels.
