For the first instalment of gasworld’s 2018 series of US regional market reports, gasworld Business Intelligence focuses on the dynamics and market prospects for the industrial gases business in the West Coast.
The industrial gas market in the West Coast region of the US reached revenues of just over $2.2bn in 2016. This was up from $1.4bn in 2006, indicating an average annual growth rate of 4.7% per annum (p.a.) for the decade. The region is home to the fourth-largest market in the US, and if its economy was separated from the rest of the US, it would be the fifth largest in the world.
The West Coast’s GDP grew at an average annual growth rate of 3.3% p.a. between 2006 and 2016. The region did dip into a slight recession during the financial crisis but has since recovered, posting a growth rate of 4.4% in 2016.
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