Within the 2019-2024 timeframe, our forecast models predict growth from 5.4% p.a. in a low scenario to 7.2% p.a. in a high scenario. This should see the industry in India achieve revenues of between $1.84bn to $2.00bn by 2024.
The commercial industrial gases market in India was estimated to have generated revenues of $1.41bn in 2019. This was up from just $882m in 2009, indicating an average annual growth rate of 5.1% p.a. for the decade.
The Indian economy has expanded at an impressive rate since 2009, with an average GDP growth rate of 9.1% p.a., when adjusted for inflation. There have been only a single rate decline over the past decade (-0.5% in 2012), and in 2019 stands at a rate of 12.7%.
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