The Mexican industrial gas market is currently the third largest market in North America, behind Canada and the United States. Over the course of the last decade industrial gas revenues have grown at a rate of -0.1%.
Between 2008 and 2018 GDP grew by an average of 7% p.a. with the rate of GDP growth being low but steady over the course of the last decade. There was a decline during the worst year of the financial crisis, however, this was followed by an immediate recovery and reasonable growth in the following years.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 6.1% p.a. in a low scenario to 8.2% p.a. in a high scenario. Accordingly, the industry in Mexico is expected to achieve revenues of between $2.08bn to $2.35bn by 2023.
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