The number of enterprises in the UK mining and quarrying sector is forecasted to show minimal growth from 2024 to 2028, maintaining at around 1.3 to 1.32 thousand enterprises. Compared to 2023, where the number stood at approximately 1.29 thousand enterprises, these figures suggest a slight upward trend. The year-on-year growth rate is expected to be relatively stable, with minor increases each year. Over the five-year period, the compound annual growth rate (CAGR) is expected to be minimal, indicating slow but steady progress.
Future trends to watch for in the mining and quarrying sector include:
- Technological advancements driving efficiency and productivity.
- Potential regulatory changes impacting sector dynamics.
- Shifts in global demand for raw materials.
- Sustainability and environmental practices gaining more focus.
- Investment in renewable energy resources possibly influencing mining practices.
