The commercial industrial gases market in the United Arab Emirates (UAE) was estimated to have generated revenues of $385.8m in 2018. This is an increase from $117.6m in 2008, indicating a compound annual growth rate of 12.6% p.a.
In the period of 2008-2018 GDP grew at a rate of 2.9% p.a. when adjusted for inflation. There was an extended period of economic growth in the country from the turn of the century until the financial crisis, where there was a decline in the rate of growth of -5.2%. In 2018 the GDP growth was 2.8% YoY.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 6.4% p.a. in a low scenario to 10.1% p.a. in a high scenario. Accordingly, the industry in the UAE is expected to achieve revenues of between $526m to $625m by 2023.
Report Data: 2018
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