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United Kingdom (UK) Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Publisher GlobalData
Published Dec 02, 2022
Length 53 Pages
SKU # GBDT17643567

Description

United Kingdom (UK) Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Summary

The outlook for the UK construction industry remains gloomy, with a contraction of 1.9% expected in 2023. In recent quarters, the industry has been outperforming expectations, supported by a solid pipeline of unfinished works, but there are major headwinds that will negatively impact output growth in the year ahead, notably rising interest rates, high energy and construction material prices, and uncertainty in global economic conditions.

In mid-November 2022, the Chancellor of the Exchequer Jeremy Hunt delivered the Autumn Budget 2022. To restore the country’s financial credibility, Mr. Hunt had announced a GBP55 billion ($66.5 billion) package of tax increases and spending cuts. The package was partly aimed at undoing some of the damage to the government’s policymaking credentials caused by the former Prime Minister Lizz Truss’ ‘Mini-Budget’ that was unveiled in late September 2022. As part of the Autumn Budget 2022, Mr. Hunt announced several tax measures, which includes an increase in windfall tax on profits of oil and natural gas companies operating in the North Sea from 25% currently to 35%; this change will be effective from January 2023 and will remain in place until 2028. The government reaffirmed that it would continue investing in energy and infrastructure projects, to boost economic growth. The government is also focused on delivering major infrastructure projects such as Sizewell C nuclear power plant, High Speed 2 (HS2) to Manchester, Northern Powerhouse Rail, and East West Rail.

The construction industry in the UK is expected to register annual average growth of 2.9% from 2024 to 2026, supported by investments in transport, energy, housing, health, education, and telecommunication infrastructure projects. As part of the Autumn Budget 2022, the government reported that construction of new infrastructure such as roads, railway lines and communities will be safeguarded by a capital investment of GBP600 billion ($725.5 billion) over the next five years

The 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.
Scope

This report provides a comprehensive analysis of the construction industry in the UK. It provides -
  • Historical (2017-2021) and forecast (2022-2026) 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.

Table of Contents

53 Pages
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
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
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, Current Prices
Figure 10: The UK, Employment in the Construction Industry, In Thousands
Figure 11: The UK, Construction Output Price Index, 2015=100, % Change YoY
Figure 12: The UK, Construction Material Price Index, 2015=100
Figure 13: The UK, Construction Projects Momentum Index
Figure 14: Western Europe, Construction Projects Momentum Index
Figure 15: The UK, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 16: The UK, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 17: The UK, Private Commercial Construction Output, Chained Volume Measures, Seasonally Adjusted 2019 Prices
Figure 18: The UK, Accommodation and Food Services Value Add (GBP Million, Constant Prices), Seasonally Adjusted
Figure 19: The UK, Construction Orders for Office and Entertainment Buildings, In GBP Million, Current Price Non-Seasonally Adjusted
Figure 20: The UK, Retail Sales Index, Seasonally Adjusted, 2019=100
Figure 21: The UK, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 22: The UK, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: The UK, Manufacturing Value Add (GBP Million, Constant Prices), Seasonally Adjusted
Figure 24: The UK, Private Industrial Construction Output, Chained Volume Measures, Seasonally Unadjusted 2019 Prices
Figure 25: The UK, New Orders for Private Industrial Construction (GBP Million, Current Prices)
Figure 26: The UK, Export of Goods, Seasonally Adjusted, In GBP Million
Figure 27: The UK, Manufacturing Production Index, Seasonally Adjusted, 2019=100
Figure 28: The UK, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
Figure 29: The UK, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 30: The UK, Construction Output for Rail, Road, and Harbour Construction, In GBP Million, Current Prices, Non-Seasonally Adjusted
Figure 31: The UK, Construction Orders for Rail, Road, and Harbour Construction, In GBP Million, Current Prices, Non-Seasonally Adjusted
Figure 32: The UK, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
Figure 33: The UK, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: The UK, Construction Orders for Electricity, Water, and Sewage Infrastructure, In GBP Million, Current Prices, Non-Seasonally Adjusted
Figure 35: The UK, Electricity Generated by Major Power Producers, In TWh
Figure 36: The UK, Electricity Consumption, In TWh
Figure 37: The UK, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
Figure 38: The UK, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 39: The UK, Construction Orders for Private Schools and Universities and Health Buildings, In GBP Million, Current Prices, Non-Seasonally Adjusted
Figure 40: The UK, Residential Construction Output by Project Type (Real, $ Million), 2017-26
Figure 41: The UK, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 42: The UK, New Housing Construction Output, Chained Volume Measures, Seasonally Adjusted 2019 Prices
Figure 43: The UK, Orders for New Housing Construction, GBP Million, Current Prices, Non-Seasonally Adjusted
Figure 44: The UK, Real Estate Value Add (GBP Million, Constant Prices), Seasonally Adjusted
Figure 45: The UK, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: The UK, Headquarters of Key Consultants (% of Total Project Pipeline)

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