The commercial industrial gases market in the Philippines is estimated to have generated revenues of $321.4m in 2019. This is up from $132.5m in 2009, indicating an average annual growth rate of 9.1% for the decade.
The Philippine economy grew at an average rate of 8.6% between 2009 and 2019. The economy is reasonably well-administered and has weathered recent financial turmoil in the wider global economy fairly well. However, there remains a great deal of poverty, unemployment is high and there is a lot of reliance on foreign remittances from Filipino expatriates around the world.
Within the 2019-2024 timeframe, our forecast models predict growth from 3.3% p.a. in a low scenario to 4.7% p.a. in a high scenario. Accordingly, the industry in the Philippines is expected to achieve revenues of between $377.5m to $403.4m by 2024.
Report Data: 2019
Each report contains a 20-year history and 5-year forecast of the respective gas markets.
- Industrial gas supply structure
- Companies operating within each country
- Market structure in terms of demand for gases
- Macro-economic influences and drivers
- Future market forecasts
- Investment potential
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