PUBLISHER: GlobalData | PRODUCT CODE: 1078304
PUBLISHER: GlobalData | PRODUCT CODE: 1078304
United Kingdom (UK) Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
The outlook for the UK construction industry has turned gloomy, and GlobalData forecasts that the industry will grow by 2.1% in real terms in 2022-down from the 3.4% previously projected-and that it will post a decline of 0.9% in 2023. The industry's growth has been revised downwards, primarily due to the impact of high construction costs and supply chain disruptions, as well as the looming economic downturn amid soaring energy prices. However, construction activity in 2022 will be supported by works on transportation infrastructure projects, and according to the Office for National Statistics (ONS), the total value of new orders for construction rose by 10.2% year on year (YoY) in the first half of 2022, following growth of 30.5% in 2021.
Reflecting the challenging outlook, the Bank of England (the Central Bank) reported in August 2022 that UK's inflation had reached a 40-year high of 10.1% in June 2022, with the Central Bank expecting inflation to peak at 13.3% in October 2022. Moreover, rising inflation is leading to higher interest rates, which are expected to dampen investment growth in general, as well as potentially hit demand for new residential construction.
Assuming that inflationary pressures are contained and that the war in Ukraine does not escalate, the UK's construction industry is projected to expand by an annual average rate of 3.3% between 2024 and 2026, supported by investments in the transport, energy, housing, and manufacturing sectors. According to the Analysis of the National Infrastructure and Construction Pipeline 2021, there is a total of GBP650 billion ($862.2 billion) in projected public and private infrastructure investment over the next ten years, with an estimated GBP400 billion ($530.6 billion)-worth of projects in the pipeline, including more than GBP200 billion ($265.3 billion)-worth of projects to be invested in by 2024-25
The report provides detailed market analysis, information and insights into the United Kingdom construction industry, including -
- The United Kingdom construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the United Kingdom construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
Scope
This report provides a comprehensive analysis of the construction industry in the United Kingdom. It provides -
- Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in the United Kingdom, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
Table of Contents
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 COVID-19 Status
- 3.5 Risk Profile
4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
6 Construction Market Data
7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 7.4 GlobalData Construction
- Contact Us
List of Tables
List of Tables
- Table 1: Construction Industry Key Data
- Table 2: The UK, Key Economic Indicators
- Table 3: The UK, Commercial Construction Output by Project Type (Real % Change), 2017-26
- Table 4: The UK, Top Commercial Construction Projects by Value
- Table 5: The UK, Industrial Construction Output by Project Type (Real % Change), 2017-26
- Table 6: The UK, Top Industrial Construction Projects by Value
- Table 7: The UK, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
- Table 8: The UK, Top Infrastructure Construction Projects by Value
- Table 9: The UK, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
- Table 10: The UK, Top Energy and Utilities Construction Projects by Value
- Table 11: The UK, Institutional Construction Output by Project Type (Real % Change), 2017-26
- Table 12: The UK, Top Institutional Construction Projects by Value
- Table 13: The UK, Residential Construction Output by Project Type (Real % Change), 2017-26
- Table 14: The UK, Top Residential Construction Projects by Value
- Table 15: The UK, Key Contractors
- Table 16: The UK, Key Consultants
- Table 17: The UK, Construction Output Value (Real, $ Million)
- Table 18: The UK, Construction Output Value (Nominal, GBP Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
List of Figures
List of Figures
- Figure 1: Western Europe, Construction Output (Real % Change), 2020-26
- Figure 2: The UK, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- Figure 3: The UK, COVID-19 Confirmed Cases
- Figure 4: The UK, Risk Summary
- Figure 5: The UK, Risk Regional Comparison
- Figure 6: The UK, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
- Figure 7: The UK, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Figure 8: The UK, Construction Output, Chained volume measures, seasonally adjusted (GBP Million)
- Figure 9: The UK, New Orders for Construction, GBP Million, Constant Prices
- Figure 10: The UK, Employment in the Construction Industry ('000)
- Figure 11: The UK, Construction Output Price Index, 2015=100, % Change YoY
- Figure 12: The UK, Construction Projects Momentum Index
- Figure 13: Region, Construction Projects Momentum Index
- Figure 14: The UK, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 15: The UK, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: The UK, Private Commercial Construction Output, Chained Volume Measures, Seasonally Adjusted 2019 Prices
- Figure 17: The UK, Construction Orders for Office and Entertainment Buildings, In GBP Million, Seasonally Unadjusted
- Figure 18: The UK, Accommodation and Food Services Value Add (GBP Million, Constant Prices), Seasonally Adjusted
- Figure 19: The UK, Retail Sales Index, Seasonally Adjusted, 2019=100
- Figure 20: The UK, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 21: The UK, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: The UK, Manufacturing Value Add (GBP Million, Constant Prices), Seasonally Adjusted
- Figure 23: The UK, Private Industrial Construction Output, Chained Volume Measures, Seasonally Adjusted 2019 Prices
- Figure 24: The UK, New Orders for Private Industrial Construction (GBP Million, Constant Prices)
- Figure 25: The UK, Total Merchandise Export (GBP Million)
- Figure 26: The UK, Manufacturing Production Index, Seasonally Adjusted, 2019=100
- Figure 27: The UK, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 28: The UK, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: The UK, Infrastructure Construction Output, Chained Volume Measures, Seasonally Adjusted 2019 Prices, GBP Million
- Figure 30: The UK, Construction Orders for Rail, Road, and Harbor Construction, In GBP Million, Seasonally Unadjusted
- Figure 31: The UK, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 32: The UK, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: The UK, Construction Orders for Electricity, Water, and Sewage Infrastructure, In GBP Million, Seasonally Unadjusted
- Figure 34: The UK, Electricity Generated by Major Power Producers, In TWh
- Figure 35: The UK, Electricity Consumption, In TWh
- Figure 36: The UK, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 37: The UK, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 38: The UK, Construction Orders for Private Schools and Universities and Health Buildings, In GBP Million, Seasonally Unadjusted
- Figure 39: The UK, Residential Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 40: The UK, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 41: The UK, New Housing Construction Output, Chained Volume Measures, Seasonally Adjusted 2019 Prices
- Figure 42: The UK, Orders for New Housing Construction, GBP Million, Constant Prices, Seasonally Adjusted
- Figure 43: The UK, Real Estate Value Add (GBP Million, Constant Prices), Seasonally Adjusted
- Figure 44: The UK, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 45: The UK, Headquarters of Key Consultants (% of Total Project Pipeline)
