The Canadian industrial gas market was the second largest market in North America in 2018.
Between 2008 and 2018 nominal GDP in Canada grew by an average 3.3%. There has been a period of solid growth over the course of the last decade, with the only significant decline being experienced during the financial crisis. In 2018 the rate of GDP growth was 4.2%.
Inflation rates in the country have generally remained low and steady. In 2018 the Canadian inflation rate stood at 2.0%.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 3.3% p.a. in a low scenario to 4.4% p.a. in a high scenario. Accordingly, the industry in Canada is expected to achieve revenues of between $2.23bn to $2.36bn by 2023.
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