The number of enterprises in the UK support activities for the oil and gas extraction sector is forecasted to decrease steadily from 2024 through 2028, starting at 202 enterprises in 2024 and declining to 188 by 2028. This gradual reduction indicates an average yearly decline, reflective of a challenging market environment. Comparing the figures from 2023 to 2028, we note a consistent downward trend with a cumulative average growth rate (CAGR) revealing a contraction over this timeframe. This trend aligns with broader industry transformations and transitions to sustainable energy sources.

Future trends to watch for include:

Increasing influence of green energy policies impacting traditional oil and gas operations.
Technological advancements aiming to optimize and streamline support activities.
Potential geopolitical shifts affecting oil and gas supply chains and demand for support activities.