Dublin, Sept. 27, 2024 (GLOBE NEWSWIRE) -- The "United Kingdom (UK) Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
UK construction industry to contract by 3% in real terms in 2024 and 1% in 2025, owing to sluggish residential construction sector, rising insolvencies, high interest rate and construction material costs. According to the Office for National Statistics (ONS), the total value of housing construction orders received in current prices fell by 10% year-on-year (YoY) in Q1 2024, preceded by Y-o-Y decline of 21% in Q4 and 0.4% in Q3 2023.
According to the UK government's monthly insolvency statistics, the total number of construction firms filed for insolvencies rose by 1% YoY in January 2024, to reach 295 firms. At the sector level, insolvency increased by 10.9% YoY for the construction of buildings and 18.8% YoY for civil engineering activities in January 2024.
Over the remainder of the forecast period, however the construction industry is expected to recover and record an average annual growth rate of 3.6% between 2026 and 2028, supported by investments in manufacturing sector, coupled with improvement in renewable energy and transport infrastructure construction activity. Growth will also be supported by the 2024 Spring Budget presented to parliament in March 2024.
Forecast period growth will also be supported by the government's aims of generating 70% of electricity from renewable energy sources by 2030 and reduce the carbon emissions by 80% compared to 1990 levels by 2035. The government is also planning to develop 24GW of nuclear capacity in the country by 2050.
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/1mobw9
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