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gasreport: South Asia – India



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%.

Published: 2020
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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