Within the 2018-2023 timeframe, our forecast models predict growth from 15.4% p.a. in a low scenario to 22.4% p.a. in a high scenario. Accordingly, the industry in Saudi Arabia is expected to achieve revenues of between $1.70bn to $2.43bn by 2023.
Within the 2018-2023 timeframe, our forecast models predict growth from 15.4% p.a. in a low scenario to 22.4% p.a. in a high scenario. Accordingly, the industry in Saudi Arabia is expected to achieve revenues of between $1.70bn to $2.43bn by 2023.
The commercial industrial gases market in Saudi Arabia was estimated to have generated revenues of $797m in 2018. This was an increase from $473m in 2008, indicating an average annual growth rate of 5.5% p.a.
Between 2008-2018, GDP in Saudi Arabia grew by an average of 6.7% p.a. The economy has experienced high growth in this period with peaks of 27.1%, and has also struggled with harsh falls in 2009 and 2015 respectively.
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