Within the 2018-2023 timeframe our forecast models predict growth from 4.8% p.a. in a low scenario to 5.4% p.a. in a high scenario. This should see the industry in Hungary achieve revenues of between $374m to $386m by 2023.
The commercial industrial gases market in Hungary was estimated to have generated revenues of $296m in 2018. This was up from $234m in 2008, indicating an average annual growth rate of 2.9% p.a. for the decade.
During the period of 2008 to 2018 average GDP growth came to 4.3% p.a. The economy slowed marginally during the financial crisis, culminating in a decline of only -2.9% in 2009. While there was a return to growth in 2010 and 2011, there was further decline in 2012 of a 2.2% fall when compared to the pervious year, largely due to Hungary’s financing crisis. The economy has seemingly recovered since, posting positive growth rates of 7.8% and 6.1% in 2017 and 2018 respectively.
Published: 2020
Report Data: 2019
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