The commercial industrial gases market in Vietnam is estimated to have generated revenues of $196m in 2017. This is up from $57m in 2007, indicating an average annual growth rate of 14.1% for the decade.
The Vietnamese economy has shown formidable growth over the past 15 years and is one of the real “Tiger” economies – attracting investment from across the world and especially from Japan. The economy itself grew at an annual average rate of 6% p.a. between 2007 and 2017. Since the 1980s the economy has transitioned rapidly from a poorly performing centrally planned communist marketplace to a dynamic, export-oriented, rapidly modernising entity.
Report Data: 2017
As our lead feature this month explains, the gases industry has always been a supplier of important welding gases, process gases, welding supplies, cutting machines, and other hardgoods. Here we explore the market drivers for welding gases and hardgoods.
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.
The commercial industrial gases market in Cambodia is estimated to have generated revenues of over $15 million in 2016. This is up from just less than $6 million in 2006, indicating an average annual growth rate of 10.8% for the decade.
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