Global energy and resources consulting market grows 6% to $14.7 billion

The global energy and resources consulting market has reached an unprecedented $14.7 billion, accounting for 13% of the $115 billion global consulting industry, a recent report by Consultancy.UK has been able to reveal.

The market's growth has accelerated, picking up to 6% in 2014, compared to the previous years. Efficiency and cost cutting services were most in demand, with demand for technology and M&A services also playing a driving force as companies look for ways to respond to challenging market conditions.

UK-based consultants have in particular seen demand from cost cutting and efficiency projects — the cost of extracting oil from the North Sea is relatively high compared with other markets around the globe, presenting consultants with an opportunity to help bring that cost down. Long planning cycles also helped to keep consulting work on an even keel and the market grew 6.1% to $816 million in 2014 as a result.

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