Within the 2018-2023 timeframe, our forecast models predict growth from 3.3% p.a. in a low scenario to 6.2% p.a. in a high scenario. Accordingly, the industry in Bulgaria is expected to achieve revenues of between $84m to $97m by 2023.
The commercial industrial gases market in Bulgaria generated revenues of approximately $72m in 2018. This was up from $55m in 2008, indicating an average annual growth rate of 3.1% p.a. for the decade.
Between 2008 and 2018 GDP grew by an average of 4.8% p.a. when adjusted for inflation. While pre-2009 the economy benefited from significant amounts of bank lending, consumption, and foreign direct investment, growth in the years since 2010 has been slower to recover.
Published: 2020
Report Data: 2019
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