Construction in the United Kingdom (UK) - Key Trends and Opportunities to 2025

The UK construction industry has been severely impacted due to the disruption caused by the Coronavirus (COVID-19) outbreak and the subsequent lockdown measures. Industry output declined by 13.6% in real terms in 2020, while output contracted by 2.8% year on year (YoY) in the fourth quarter of 2020, which was preceded by declines of 8.8% in Q3, 35% in Q2 and 3.4% in Q1 2020.

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Global Data expects the country’s construction industry to rebound and grow by 8% in 2021 and record an average growth of 2.5% between 2022 to 2025. The industry’s output will be supported by improving investor confidence and investments in transport, renewable energy, residential and commercial infrastructure projects. With the new support package of GBP4.6 billion (US$5.5 billion) released in January 2021 by Chancellor Rishi Sunak, businesses such as retail, hospitality and leisure will be supported until April 2021. The government is also focusing on the development of renewable energy projects, with an aim to produce offshore wind power capacity of 40GW by 2030, up from the present 10GW - this will help the country to meet its zero-carbon emissions target by 2050.
Over the remaining part of the forecast period, the industry’s output will also be supported by key investment projects, which include Highways England’s Road Investment Strategy 2 (RIS2), which started operating from April 2020, and will run until March 2025 with a total budget of GBP27.4 billion (US$32.7 billion), and the GBP40 billion (US$47.8 billion) investment program of Ofgem, the country’s energy regulator, to transform Britain's gas and electricity transmission network over the next five years. The wider economic impact of COVID-19 disruption along with post-Brexit challenges are likely to weigh on the construction industry, particularly affecting industrial and commercial construction.

This report provides detailed market analysis, information, and insights into the UK construction industry, including -
- The UK 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 UK construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

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Scope
This report provides a comprehensive analysis of the construction industry in the UK. It provides -
- Historical (2016-2020) and forecast (2021-2025) 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 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.

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