East Africa Refined Petroleum Products Market Size (2024 - 2029)

The East Africa petroleum products market is poised for growth, driven by increasing demand in the transportation and industrial sectors, despite challenges such as the impact of COVID-19 and slow urbanization in some areas. The market's expansion is supported by the rising need for electricity generation from oil, presenting opportunities for development in regions with limited access to electricity. Middle distillate oil products are anticipated to lead the market due to their application in power generation and transportation. Kenya is expected to be a key player in the market, reflecting its growing demand for gas and oil.

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Market Size of East Africa Refined Petroleum Products Industry

East Africa Refined Petroleum Products Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 3.50 %
Market Concentration Medium

Major Players

East Africa Refined Petroleum Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

East Africa Refined Petroleum Products Market Analysis

The primary energy consumption in East Africa is expected to record a CAGR of more than 3.5% during the forecast period of 2022-2027. The outbreak of COVID-19 in Q1 of 2020 negatively impacted the region's refined petroleum products market. Lockdown restrictions imposed by various governments in the region have lowered the demand for petroleum products. For instance, countries like Tanzania stopped flights to and from neighboring countries like Kenya. Factors such as increasing demand for refined petroleum products in the transportation and industrial sectors are likely to drive the market in the forecast period. An increase in electricity generation from oil also creates significant demand for refined products in East African countries. However, a lack of investments and slow urbanization in some countries in the region are expected to restrain the market growth during the forecast period.

Middle distillate oil products are expected to dominate the market in the forecast period, owing to demand in different sectors, like power generation, transportation, and others.

With more than 140 million people not having access to electricity in 2019 and growing consumption of refined petroleum products from end-user industries, East Africa can create ample opportunities for electricity generation using oil and gas products.

Kenya is expected to dominate the market during the forecast period due to the country's growing demand for gas and oil.

East Africa Refined Petroleum Products Industry Segmentation

The East African refined petroleum products market report includes:

Type
Light Distillates
Middle Distillates
Heavy Distillates
Geography
Uganda
Kenya
Tanzania
Mozambique
Rest of East Africa
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East Africa Refined Petroleum Products Market Size Summary

The East Africa petroleum products market is poised for growth, driven by increasing demand in the transportation and industrial sectors. The region's energy consumption is expected to rise steadily, with middle distillate oil products anticipated to dominate due to their essential role in power generation and transportation. Despite the challenges posed by the COVID-19 pandemic, which initially dampened demand, the market is recovering as countries like Kenya and Uganda invest in new refineries and oil terminals. These developments are expected to enhance the region's capacity to generate electricity and meet the growing energy needs of its population, which still faces significant electricity access challenges.

Kenya is projected to lead the market, supported by its expanding demand for gas and oil, alongside infrastructure developments such as the Kipevu Oil Terminal and new LPG storage facilities. The country's strategic initiatives, including the Turkana oil project and the establishment of petroleum sites in Ethiopia, underscore the region's potential for increased production and consumption of refined petroleum products. The market remains moderately fragmented, with key players like TotalEnergies SE, Shell PLC, and Vivo Energy PLC actively participating in the region's growth. As urbanization and industrialization continue, the demand for refined petroleum products is expected to rise, offering substantial opportunities for market expansion in East Africa.

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East Africa Refined Petroleum Products Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Light Distillates

      2. 2.1.2 Middle Distillates

      3. 2.1.3 Heavy Distillates

    2. 2.2 Geography

      1. 2.2.1 Uganda

      2. 2.2.2 Kenya

      3. 2.2.3 Tanzania

      4. 2.2.4 Mozambique

      5. 2.2.5 Rest of East Africa

East Africa Refined Petroleum Products Market Size FAQs

The East Africa Refined Petroleum Products Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)

National Oil Ethiopia Plc , TotalEnergies SE, Shell Plc, Vivo Energy Plc and KenolKobil Ltd are the major companies operating in the East Africa Refined Petroleum Products Market.

East Africa Petroleum Products Market Report Snapshots

East Africa Petroleum Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)