Incorporating: Illinois, Indiana, Michigan, Ohio and Wisconsin.
The Great Lakes is home to the third largest industrial gas market out of the eight US regions.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 1.6% p.a. in a low scenario to 4.6% p.a. in a high scenario. Accordingly, the industry in the Great Lakes is expected to achieve revenues of between $3.32bn to $3.85bn by 2023.
The regions GDP growth has fared relatively well over the past 15 years. The Great Lakes did of course feel the impacts of the recession – the economy dropped by -0.5% and -2.4%, in 2008 and 2009, respectively. Average GDP growth for the past decade has equalled 1.8% p.a. The region’s economy is largely driven by its manufacturing sector, with global headquarters and major production units of Ford, General Motors and Chrysler located in the region.
Report Data: 2018
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