Within the 2018-2023 timeframe, our forecast models predict growth from 15.4% p.a. in a low scenario to 22.4% p.a. in a high scenario. Accordingly, the industry in Saudi Arabia is expected to achieve revenues of between $1.70bn to $2.43bn by 2023.
The industrial gases business in the Kingdom of Saudi Arabia is by far the largest in the Arabian Peninsula. The commercial industrial gases market in Saudi Arabia was estimated to have generated revenues of $797m in 2018. This was an increase from $473m in 2008, indicating an average annual growth rate of 5.5% p.a.
Between 2008-2018, GDP in Saudi Arabia grew by an average of 6.7% p.a. The economy has experienced high growth in this period with peaks of 27.1%, and has also struggled with harsh falls in 2009 and 2015 respectively.
Report Data: 2019
Each report contains a 10-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