EIC’s 8th annual Survive & Thrive

In its eighth year, EIC’s Survive and Thrive initiative continued to research the 15 most popular growth strategies used by the world’s energy supply chain in challenging market conditions. New and important findings have been revealed, such as the conundrum of record growth, with 96% of companies forecasting record revenues in 2024, offset by clear and worrying growing geopolitical and policy uncertainties, resulting in more cautious decision-making by energy bosses, which hampers investment.

The report featured success stories and insights from 134 member companies and underscored the need for clearer policies and trade agreements to support market expansion. It reflected that leaders are now more committed than ever to pursuing the energy transition, with or without total policy clarity, but just not on pace with 2050 net zero timelines.

Exporting to new markets remained the least used growth strategy due to excessive risks, cost, and time to market. Companies called for more government support and funding with market access. The #1 growth strategy was to develop client-facing solutions and services, with 82% of these companies working directly with operators, increasingly side-stepping the Tier 1 EPC contractors.