Market Size of Africa Oil and Gas Downstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Africa Oil & Gas Downstream Market Analysis
The African oil and gas downstream market is expected to register a CAGR of over 4% in the current year.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, Africa's downstream market is increasing due to the economy's growth, and aiding the development and expansion of refined petroleum complexes are expected to drive the growth of the market studied.
- On the other hand, instability in the government of various African nations and militant attacks on oil and gas activities discourage foreign investments and are expected to hamper the growth of the African oil and gas downstream market during the forecast period.
- Nevertheless, Africa is one of the most underdeveloped natural resource-rich regions, making it open to the upstream oil and gas market development. Directly aiding the downstream demand will likely create lucrative growth opportunities for the African oil and gas downstream market in the forecast period.
- Nigeria is to witness significant growth and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with the forefront of downstream infrastructure development in the country.
Africa Oil & Gas Downstream Industry Segmentation
Oil and gas downstream is the portion of the oil and natural gas industry responsible for refining, distributing, and retailing petroleum products. This portion of the industry includes oil refineries, petrochemical plants, petroleum products distributors, and natural gas distribution companies. The African oil and gas downstream market is segmented by sector and geography. By sector, the market is segmented into the refinery and petrochemical sectors. The report also covers the market size and forecasts for the African oil and gas downstream market across major countries. For each segment, the market sizing and forecasts have been done based on refining capacity (million barrels per day).
| Sector | |
| Refinery Sector | |
| Petrochemical Sector |
| Geography | |
| Nigeria | |
| Egypt | |
| South Africa | |
| Others |
Africa Oil and Gas Downstream Market Size Summary
The African oil and gas downstream market is experiencing a resurgence, having rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The market is poised for growth, driven by economic expansion and the development of refined petroleum complexes. However, challenges such as political instability and militant activities in various African nations pose risks to foreign investments, potentially hindering market growth. Despite these challenges, Africa's rich natural resources present significant opportunities for upstream and downstream market development. Countries like Nigeria are at the forefront of this growth, with substantial investments in downstream infrastructure expected to drive significant market expansion.
The increasing demand for hydrocarbons, fueled by rapid industrialization and population growth, is bolstering the downstream market across Africa. The region's refining capacity is on the rise, with countries like Nigeria and Egypt investing heavily in new refineries and petrochemical projects to meet domestic and regional demand. These developments are aimed at reducing reliance on imported refined petroleum products and supporting economic growth. The market is moderately consolidated, with key players such as the Nigerian National Petroleum Company Limited and Egyptian General Petroleum Corporation leading the charge. Despite political and economic challenges, the African oil and gas downstream market is set to benefit from growing demand and strategic investments in infrastructure.
Africa Oil and Gas Downstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Refining Capacity and Forecast in million barrels per day, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Threat of New Entrants
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1.7.2 Bargaining Power of Buyers/Consumers
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1.7.3 Bargaining Power of Suppliers
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1.7.4 Threat of Substitute Products
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Sector
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2.1.1 Refinery Sector
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2.1.2 Petrochemical Sector
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2.2 Geography
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2.2.1 Nigeria
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2.2.2 Egypt
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2.2.3 South Africa
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2.2.4 Others
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Africa Oil and Gas Downstream Market Size FAQs
What is the current Africa Oil and Gas Downstream Market size?
The Africa Oil and Gas Downstream Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Africa Oil and Gas Downstream Market?
Nigerian National Petroleum Company Limited, Egyptian General Petroleum Corporation, Shell PLC, ExxonMobil Corporation and Midoil Refining & Petrochemicals Company Limited are the major companies operating in the Africa Oil and Gas Downstream Market.
