Incorporating: Alaska, California, Hawaii, Oregon, Nevada and Washington.
The West Coast boast an extensively sophisticated industrial gas market, and features operations from all of the tier one industrial gas companies, with the exception of Messer, who divested its US business to Air Liquide in 2004.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 3.0% p.a. in a low scenario to 7.0% p.a. in a high scenario. Accordingly, the industry in the West Coast is expected to achieve revenues of between $4.48bn to $5.22bn by 2023.
The West Coast’s GDP grew at an average annual growth rate of 6% p.a. between 2008 and 2018. The region did dip into a slight recession during the financial crisis but has since recovered, posting a growth rate of 3% in 2018. Of course, GDP declined during the worst period of the recession, by -3.3% in 2009. The recession was short lived in the region, a recovery did ensue a year later and the economy has posted positive growth since.
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