The commercial industrial gases market in Singapore is estimated to have generated revenues of $926 million in 2017. This is up from $372 million in 2007, indicating an average annual growth rate of 10.2% for the decade.
Between 2007 and 2017 nominal GDP grew by an average of 6.1% p.a. One slight concern is that export demand since the global financial crisis of 2008-9 has remained somewhat sluggish. However, with on-going efforts to raise productivity and diversify the economy still further, we feel confident that there are continued good prospects for Singapore’s economy.
Report Data: 2018
The commercial industrial gases market in the Philippines estimated to have generated revenues of $300 million in 2016. This is up from $110 million in 2006, indicating an impressive average annual growth rate of 11% for the decade.
Within the 2018-2023 timeframe, gas world business intelligence predict growth from 7.9% p.a. in a low scenario to 8.2% p.a. in a high scenario. Accordingly, the industry in is expected to achieve revenues of between $31.5m to $31.9m by 2023.
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