South Africa Petroleum Market Size

Statistics for the 2023 & 2024 South Africa Petroleum market size, created by Mordor Intelligenceā„¢ Industry Reports. South Africa Petroleum size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

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Market Size of South Africa Petroleum Industry

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South Africa Petroleum Market Summary
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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

South Africa Petroleum Market Major Players

*Disclaimer: Major Players sorted in no particular order

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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.

Petroleum Industry in South Africa Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)