UK Construction Industry Report 2024: Output to Decline by 2.3% in Real-terms this Year Before a Projected AAGR of 2.5% During 2025-2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "The UK Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)" report has been added to ResearchAndMarkets.com's offering.

The UK construction industry is expected to shrink in real terms by 2.3% in 2024, owing to the sluggish residential construction sector, high interest rates, coupled with elevated construction material costs, and energy prices.

According to the Office for National Statistics (ONS), the total value of construction output fell marginally by 0.7% year-on-year (YoY) in the first six months of 2024, with new construction work, which accounted for 56.3% of the total construction work done in the first six months of 2024, falling by 6.5% YoY over the same period. Moreover, the total value of new housing orders fell by 0.7% YoY in the first six months of 2024. Moreover, the total value of output for new housing construction fell by 9.2% YoY in the first six months of 2024.

Over the remainder of the forecast period, however, the construction industry is expected to recover and record an average annual growth rate of 2.5% between 2025 and 2028, supported by investments in industrial, housing, infrastructure, water and energy sectors, coupled with the government target of generating 70% of electricity from renewable sources by 2030.

In August 2024, the government approved the GBP1.5 billion ($1.9 billion) transmission project which includes the laying of 506km of transmission line between Aberdeenshire and North Yorkshire by 2029. Additionally, in July 2024, the government announced an investment of GBP8.3 billion ($10.6 billion) for energy projects to develop 20-30GW of offshore wind projects in Britain by 2030. In terms of water infrastructure, in June 2024, domestic utility developer United Utilities reported that it selected seven partners including local infrastructure solution provider Costain for its water and wastewater infrastructure investment program (2025-2030).

Scope

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in the UK, 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 the analyst'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 the analyst's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

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 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

For more information about this report visit https://www.researchandmarkets.com/r/zi4laq

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