The commercial industrial gases market in Vietnam is estimated to have generated revenues of $233.0m in 2019. This is up from $117.1m in 2009, indicating an average annual growth rate of 7.2% for the decade.
The Vietnamese economy grew at an average rate of 12.9% p.a. between 2009 and 2019. Since the 1980s the economy has transitioned rapidly from a poorly performing centrally planned communist marketplace to a dynamic, export-oriented, rapidly modernising entity. Throughout the last decade the economy of Vietnam has experienced good growth, with the rate of GDP growth not dropping below 6% in any given year.
Within the 2019-2024 timeframe, accordingly, our forecast models predict growth from 7.0% p.a. in a low scenario to 8.0% p.a. in a high scenario. This should see the industry in Vietnam achieve revenues of between $344m to $362m by 2024.
Report Data: 2019
Each report contains a 10-year history and 5-year forecast of the respective gas markets.
- Industrial gas supply structure
- Companies operating within each country
- Market structure in terms of demand for gases
- Macro-economic influences and drivers
- Future market forecasts
- Investment potential
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