Uganda Petroleum Products Companies (2024 - 2029)

Uganda Petroleum Products Market Companies Summary

The petroleum products market in Uganda is expected to see growth, despite a decrease in demand due to the COVID-19 pandemic. The market is driven by the use of these products for various commercial purposes, such as in the fishery industry. However, the market's growth could be hindered by the country's heavy reliance on wood fuel. The consumption of diesel, which is used in a variety of industries, is likely to increase during the forecast period. Companies in the petroleum sector have significant opportunities for expansion, particularly if the government provides a legal and institutional framework for downstream operations. The market is also influenced by the increase in transportation services, which are a major consumer of petroleum products. Diesel is a significant petroleum product, consumed mainly in the road and fishery industries. Although these products are not produced locally and are instead imported, the country is expected to commission its first oil refinery by 2027 to meet domestic demand. The growth of the automobile, rail, and aviation industries is expected to drive the market. The Uganda petroleum products market is fragmented, with several major firms operating within it.