The commercial industrial gases market in Russia was estimated to have generated revenues of $1.29bn in 2019. This was up from $650m in 2009, indicating an average annual growth rate of 9.5% p.a. for the decade.
Over the past decade the rate of GDP has experienced an average annual growth rate of 8.9% p.a. when adjusted for inflation. The rate of GDP was hit hard by the financial crisis in 2009, showing a decline of 6.1%, but did recover in the following years. In 2019, GDP grew at a rate of 5.3%.
Within the 2019-2024 timeframe, gasworld business intelligence predict growth from 2.8% p.a. in a low scenario to 3.7% p.a. in a high scenario. This should see the industry in Russia achieve revenues of between $1.48bn to $1.54bn by 2024.
Published: 2020
Report Data: 2019
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