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Construction in the United Kingdom (UK) - Key Trends and Opportunities to 2025 (Q1 2021)

March 2021 | 54 pages | ID: C2E8987A995FEN
GlobalData

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Construction in the United Kingdom (UK) - Key Trends and Opportunities to 2025 (Q1 2021)

SUMMARY

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.

GlobalData 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.
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.
About GlobalData

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

4. CONSTRUCTION OUTLOOK

5. CONSTRUCTION OUTLOOK - REGIONS

5.1 England
5.2 Scotland
5.3 Wales
5.4 Northern Ireland

6. KEY INDUSTRY PARTICIPANTS

6.1 Contractors
6.2 Consultants

7. CONSTRUCTION MARKET DATA

8. APPENDIX

8.1 What is this Report About?
8.2 Definitions
8.3 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), 2016-2025
Table 4: The UK, Top Commercial Construction Projects by Value
Table 5: The UK, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: The UK, Top Industrial Construction Projects by Value
Table 7: The UK, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: The UK, Top Infrastructure Construction Projects by Value
Table 9: The UK, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: The UK, Top Energy and Utilities Construction Projects by Value
Table 11: The UK, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: The UK, Top Institutional Construction Projects by Value
Table 13: The UK, Residential Construction Output by Project Type (Real % Change), 2016-2025
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, US$ Million)
Table 18: The UK, Construction Output Value (Nominal, GBP Million)
Table 19: GlobalData Construction Market Definitions

LIST OF FIGURES

Figure 1: Western Europe, Construction Output (Real % Change), 2020 and 2021
Figure 2: The UK, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: The UK, COVID-19 Confirmed Cases
Figure 4: The UK, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 5: The UK, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: The UK, Construction Value-Add (GBP Million, Constant Prices)
Figure 7: The UK, New Orders for Construction (GBP Million, Constant Prices)
Figure 8: The UK, Gross Fixed Capital Formation (GBP Million, Current Prices)
Figure 9: The UK, Construction Production Index (Unadjusted, 2015=100)
Figure 10: The UK, Construction Projects Momentum Index
Figure 11: The UK, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 12: The UK, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 13: The UK, Accommodation and Food Services Value-Add (GBP Million, Constant Prices)
Figure 14: The UK, New Orders for Private Commercial Construction (GBP Million, Constant Prices)
Figure 15: The UK, Average Retail Sales Index (2016=100)
Figure 16: The UK, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 17: The UK, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 18: The UK, Manufacturing Value-Add (GBP Million, Constant Prices)
Figure 19: The UK, New Orders for Private Industrial Construction (GBP Million, Constant Prices)
Figure 20: The UK, Total Merchandise Export (GBP Million)
Figure 21: The UK, Manufacturing Production Index
Figure 22: The UK, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 23: The UK, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: The UK, New Orders for Infrastructure Construction (GBP Million, Constant Prices)
Figure 25: The UK, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: The UK, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: The UK, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 28: The UK, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: The UK, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 30: The UK, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 31: The UK, Real Estate Value-Add (GBP Million, Constant Prices)
Figure 32: The UK, New Orders for Housing Construction (GBP Million, Constant Prices)
Figure 33: The UK, House Price Index (2015=100)
Figure 34: The UK, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 35: The UK, Headquarters of Key Consultants (% of Total Project Pipeline)


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