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gasreport: Middle East – Saudi Arabia



The commercial industrial gases market in Saudi Arabia is estimated to have generated revenues of $1.08bn in 2022. This is up from $0.78bn in 2012, indicating a compound annual growth rate of 3.3% p.a. for the decade. The market has grown significantly with recent years and is set for unprecedented expansion with the worlds largest industrial gas plant – the Jazan industrial gas complex – beginning operations in 2023. We expect a large 59.1% growth in 2023 because of this (without Jazan we’d expect market growth of between 0.2% and 5.5% YoY in 2023).

Using our models, we anticipate steady growth overall within the 2023-2027 timeframe, stretching from 3.3% p.a. in a low scenario to 8.5% p.a. in a high scenario. This will see the industry in Saudi Arabia achieve revenues between $1.96bn and $2.38bn by 2027.

Published: 2023

Report Data: 2022

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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