In the seventh instalment of the regional markets series, gasworld Business Intelligence investigates the structure and future prospects of the South East’s industrial gas market.
The industrial gas market of the South East region represented the largest in the US in 2016, with revenues peaking at $4.9bn. This was up from $3.2bn in 2006, indicating an average annual growth rate of 4.3% per annum (p.a.) for the decade.
The region’s economy was characterized by its extensive refining and chemicals industries, specifically along its south coast. According to the Bureau of Economic Analysis (BEA), GDP growth averaged 2.5% p.a. between 2006 and 2016, but did witness a minor contraction during the recession in 2009. Since 2010, annual GDP growth has remained at around 3%.
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