Uganda Petroleum Products Market Size

Statistics for the 2023 & 2024 Uganda Petroleum Products market size, created by Mordor Intelligence™ Industry Reports. Uganda Petroleum Products 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.

Market Size of Uganda Petroleum Products Industry

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Uganda Petroleum Products Market - Market Overview
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 3.10 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

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Uganda Petroleum Products Market Analysis

The Uganda petroleum products market is expected to grow at a CAGR of around 3.1% during the forecast period. Due to the COVID-19 pandemic, the market witnessed a significant negative impact with a drop in demand for petroleum products due to the decline of economic activities in the country. Factors like growth in consumption of petroleum products for various commercial purposes like fishery are likely to propel the market. However, dominant reliance on wood fuel is expected to hinder the market growth during the forecast period.

  • Diesel is likely to have high consumption during the forecast period on account of wide applications like road, railway, and fishery industry.
  • Uganda is highly dependent upon wood fuel. Nearly 93% of the energy comes from wood fuel, the rest 5% comes from petroleum products, and 1.5% comes from hydro power. Hence, petroleum products companies operating in the country have ample opportunity for expansion if the government offers legal and institutional framework for downstream operations.
  • An increase in transportation services is expected to propel the market during the forecast period.

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