Market Size of South Africa Petroleum Industry
Study Period | 2019-2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 8.30 Billion |
Market Size (2029) | USD 8.83 Billion |
CAGR (2024 - 2029) | 1.23 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South Africa Petroleum Market Analysis
The South Africa Refined Petroleum Products Market size is estimated at USD 8.30 billion in 2024, and is expected to reach USD 8.83 billion by 2029, growing at a CAGR of 1.23% during the forecast period (2024-2029).
- Over the medium term, the increasing infrastructure development activities in the country, the growing population, and the increasing consumption of petrol products are expected to drive the market during the forecasted period.
- On the other hand, an increasing fluctuation in crude oil prices is expected to hinder the market's growth during the forecasted period.
- Nevertheless, the increasing investments in the petrochemical market are expected to create huge opportunities for the refined petroleum products market.