Country Dashboard: Denmark

The commercial industrial gas market in Denmark is estimated to have generated revenues of $226.9m in 2017. This is up from $184.9m in 2007, indicating an average annual growth rate of 2.6% for the decade.

The Economy

Between 2007 and 2017 GDP grew by an average of 0.66% p.a. Denmark boasts a highly-advanced economy, with a number of leading industries in areas such as shipping, renewable energy and agriculture. The country is a net exporter of food and energy but needs to import materials to support its manufacturing sector. Denmark is characterised by low debt-to-GDP (45%). Though having previously met the criteria to join the European Economic and Monetary Union (EMU), the country has so far resisted any further steps to join the euro, although its currency, the krona, is closely pegged to the continent’s single currency.

The Gas Business

The industrial gas sector in Denmark is dominated by a handful of the major international companies, with Air Liquide, being the largest of these with just over 35% of the market. The next largest company is AGA (Linde), accounting for just over 26% of all activity. Yara Praxair has around a 21% share. The regional player Strandmollen, have a market share of around 16%.

Packaged gas supply is the most revenue-generating method for delivering industrial gas within the country, accounting for approximately $123m. Around $89m is generated through bulk deliveries, with the remaining revenues coming from the sale of gas related equipment. Currently, there is no dedicated on-site production operating in Denmark. Instead, end-users with a large demand have opted to operate their own gas production facilities. If all this capacity were to be converted to on-site contracts, we expect that a further $36m in revenue could be generated.

Nitrogen and oxygen account for the highest percentage of sales with around 21% each of the market share each, which equates to nearly $46m each. Carbon dioxide generates sales of $37m, whilst hydrogen accounts for a further $20 million. Argon accounted for $12m in revenues. The rest of the market ($58.6m) is made up of acetylene and other specialty gases.

The most important end-use sector from a point of view of gas sales are the food and manufacturing sectors, accounting for 27% and 26% of the market each respectively. Healthcare was the next biggest at 12.6%, whereas chemicals and refining sectors, combined, accounted for 14.3%. Metallurgy and Electronics were small sectors of the market in Denmark, neither accounting for more than 4% market share.

The Future

Within the 2017-2021 timeframe, our forecast models predict growth from 1.8% p.a. in a low scenario to 4.1% p.a. in a high scenario. Accordingly, the industry in the Denmark is expected to achieve revenues of between $225m (€203m) to $250m (€221m) by 2021.




GDP, IPI and Inflation 2017

  • GDP (%)
  • IPI (%)
  • GDP Deflator (%)
,GDP (%),IPI (%),GDP Deflator (%) 2000,3.75,6.29,3.02 2001,0.82,1.86,2.52 2002,0.47,1.46,2.35 2003,0.39,-0.04,1.48 2004,2.67,-1.23,2.1 2005,2.34,3.27,2.91 2006,3.91,2.98,2.08 2007,0.91,-2.67,2.43 2008,-0.51,-1.64,4.13 2009,-4.91,-14.31,0.53 2010,1.87,1.47,3.22 2011,1.34,1.92,0.64 2012,0.23,0.06,2.38 2013,0.93,0.82,0.89 2014,1.62,-0.26,1.03 2015,1.61,0.08,0.7 2016,1.96,4.19,-0.05 2017,2.24,2.01,1.56
Download CSV-Data

Between 2007 and 2017 GDP grew by an average of 0.66% p.a. Denmark boasts a highly-advanced economy, with a number of leading industries in areas such as shipping, renewable energy and agriculture. The country is a net exporter of food and energy but needs to import materials to support its manufacturing sector. Denmark is characterised by low debt-to-GDP (45%). Though having previously met the criteria to join the European Economic and Monetary Union (EMU), the country has so far resisted any further steps to join the euro, although its currency, the krona, is closely pegged to the continent’s single currency.



Top


Commercial Gas Market 2017

  • GDP (%)
  • IPI (%)
  • Gas Market (%)
,GDP (%),IPI (%),Gas Market (%) 2000,3.75,6.29,3.89 2001,0.82,1.86,0.46 2002,0.47,1.46,2.96 2003,0.39,-0.04,-6.13 2004,2.67,-1.23,1.44 2005,2.34,3.27,0.17 2006,3.91,2.98,12.17 2007,0.91,-2.67,6.53 2008,-0.51,-1.64,10.88 2009,-4.91,-14.31,-9.6 2010,1.87,1.47,-2.32 2011,1.34,1.92,1.75 2012,0.23,0.06,2.33 2013,0.93,0.82,3.17 2014,1.62,-0.26,4.44 2015,1.61,0.08,2.14 2016,1.96,4.19,0.44 2017,2.24,2.01,8.88
Download CSV-Data

The growth of the commercial gas market in Denmark has followed the same trends as the economy as a whole, but has witnessed more severe peaks and troughs. The recession hit the country’s industrial gas revenues hard, with a decline of 9.6% However, the Danish gas market recovered quickly and has experienced years of growth since 2011. Denmark's gas market had a strong growth rate of 8.9% in 2017.



Top


Market Share by Gas Company 2017

based on market total of $226.9m

Legend:
  • Air Liquide
  • Strandmollen
  • Linde
  • Yara Praxair
  • Others
Air Liquide,79.87 Strandmollen,35.81 Linde,59.22 Yara Praxair,47.05 Others,4.9
Download CSV-Data

The industrial gas sector in Denmark is dominated by a handful of the major international companies, with Air Liquide, being the largest of these with just over 35% of the market. The next largest company is AGA (Linde), accounting for just over 26% of all activity. Yara Praxair has around a 21% share. The regional player Strandmollen, have a market share of around 16%.


Top


Market Share by Supply Mode 2017

Legend:
  • Bulk
  • Packaged
  • Other
  • Captive
Bulk,88.7 Packaged,122.97 Other,15.18 Captive,36.28
Download CSV-Data

Packaged gas supply is the most revenue-generating method for delivering industrial gas within the country, accounting for approximately $123m. Around $89m is generated through bulk deliveries, with the remaining revenues coming from the sale of gas related equipment. Currently, there is no dedicated on-site production operating in Denmark. Instead, end-users with a large demand have opted to operate their own gas production facilities. If all this capacity were to be converted to on-site contracts, we expect that a further $36m in revenue could be generated.


Top


Commercial Gases Value 2017

Legend:
  • Oxygen
  • Nitrogen
  • Argon
  • Carbon Dioxide
  • Hydrogen
  • Helium
  • Other
Oxygen,45.76 Nitrogen,45.54 Argon,11.91 Carbon Dioxide,36.62 Hydrogen,20.19 Helium,3.35 Other,58.58
Download CSV-Data

Nitrogen and oxygen account for the highest percentage of sales with around 21% each of the market share each, which equates to nearly $46m each. Carbon dioxide generates sales of $37m, whilst hydrogen accounts for a further $20 million. Argon accounted for $12m in revenues. The rest of the market ($58.6m) is made up of acetylene and other specialty gases.


Top


Market Share by End-User 2017

Legend:
  • Chemicals
  • Refining & Energy
  • Metallurgy
  • Gen Manufacturing
  • Food
  • Electronics
  • Pulp & Paper
  • Healthcare
  • Glass
  • Others
Chemicals,21.3 Refining & Energy,11.06 Metallurgy,6.21 Gen Manufacturing,58.35 Food,61.29 Electronics,7.82 Pulp & Paper,0 Healthcare,28.63 Glass,0.85 Others,31.36
Download CSV-Data

The most important end-use sector from a point of view of gas sales are the food and manufacturing sectors, accounting for 27% and 26% of the market each respectively. Healthcare was the next biggest at 12.6%, whereas chemicals and refining sectors, combined, accounted for 14.3%. Metallurgy and Electronics were small sectors of the market in Denmark, neither accounting for more than 4% market share.


Top


Gas Market Forecast

  • Macro Economic Forecast
  • gasworld Forecast
,Macro Economic Forecast,gasworld Forecast 2000,154,154 2001,155,155 2002,159,159 2003,149,149 2004,152,152 2005,152,152 2006,170,170 2007,181,181 2008,201,201 2009,182,182 2010,178,178 2011,181,181 2012,185,185 2013,191,191 2014,199,199 2015,204,204 2016,204,204 2017,207,212 2018,211,221 2019,215,231 2020,219,240 2021,223,250
Download CSV-Data

Within the 2017-2021 timeframe, our forecast models predict growth from 1.8% p.a. in a low scenario to 4.1% p.a. in a high scenario. Accordingly, the industry in the Denmark is expected to achieve revenues of between $225m (€203m) to $250m (€221m) by 2021.


Top


Gas Production Facilities


Top