The commercial industrial gas market in Austria is estimated to have generated revenues of $465 million in 2014. This is up from around $300 million in 2004, indicating an average annual growth rate of 4.6% for the decade.
Between 2004 and 2014 GDP grew by an average of 5.7% p.a., or 1.4% if adjusted for inflation. An advanced economy with a high standard of living, Austria’s economy is closely interwoven with a number of other EU economies, including the continent’s main economic powerhouse, Germany.
The global crash resulted in an intense, yet relatively short-lived recession. Unemployment has not risen as high as in many other European nations, in part due to government intervention in the labour market to subsidise sections of working hours to alleviate some of the cost of that businesses face in maintaining employees.
Packaged gas supply is the most commonly used method for delivering industrial gas in Austria, accounting for almost 55%. Around 20% of the market is supplied through bulk, whereas onsite/pipeline supply comes in at 9%. Captive stands at 13%.
The most important end-use sectors from a point of view of gas sales are the manufacturing and metallurgy industries by far, at 30% and 28% respectively. After this, the chemicals sector has around 10-11%, and the food and beverage sector is the next largest, at 8%.
Within the 2015-2020 timeframe, our forecast models predict growth from 1.8% p.a. in a low scenario to 2.9% p.a. in a high scenario. Accordingly, the industry in the Austria is expected to achieve revenues of between $530 million to $600 million by 2020.
For more in-depth analysis of national gas markets across the globe, subscribe to Business Intelligence Online: http://www.gasworld.com/intelligence/online/ or email firstname.lastname@example.org for more information.