The commercial industrial gases market in Hungary is estimated to have generated revenues of $315m in 2013. This is up from $143m in 2003, indicating an average annual growth rate of 8.2% for the decade.
The commercial gases business in Hungary is dominated by Linde, which alone accounts for approximately 65% of the total market in the country. Of the other major companies, Air Liquide, Air Products, Praxair and Messer are all active, with the latter holding the second largest share at approximately 20%.
In terms of supply mode breakdown, the market favours onsite supply schemes and packaged product, generating around 35% of the supply mode shareeach. The ‘others’ share of the market, incorporates both captive and bulk supply, of which the latter holds a larger share.
Historically, the industrial gas sector has grown at a faster rate than the economy. In large, this is due to a significant number of large tonnage contracts related to the chemical industry that have come on-stream during the last decade. This sector has recorded substantial growth and we expect some further upside for this, as well as the steel industry going forward.
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.