Construction market forecast 2015 to 2024
During 2020, the construction industry in the United Kingdom has been severely impacted by the Covid-19 outbreak. According to a report by Research and Markets published on 2 September 2020, the pandemic is expected to impact on growth across key sectors over the short- to medium-term, and recovery is expected to be slow. The residential and commercial sectors are likely to be worst affected, whilst infrastructure is expected to maintain growth, supported by public spending.
The construction industry in the United Kingdom is expected to record a CAGR of 8.5% to reach GBP 236.8 billion by 2024.
The residential construction industry in value terms increased at a CAGR of 2.9% during 2015-2019. The commercial building construction market in value terms is expected to record a CAGR of 7.6% over the forecast period.
Infrastructure construction was estimated to be GBP 54.2 billion in 2019, posting a CAGR of 4.9% during the review period.
The report includes market size and forecast by value and volume across the residential and commercial sectors in London, Birmingham, Manchester, Leeds, Glasgow, Sheffield, Bradford, Liverpool, Edinburgh and Bristol.
[edit] Related articles on Designing Buildings Wiki
- August 2020 construction PMI survey results.
- Construction 2025.
- Construction output and GDP for quarter 4 2019.
- Global construction market projections from 2020 to 2030.
- Global modular construction market.
- New deal for infrastructure 2020.
- UK construction industry.
[edit] External resource
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
An extraordinary record of steel engineering worldwide.
Households living near new pylons to save on bills.
ECA warns growth must not outpace grid capacity or skills.
The role of the client and decision making
CIOB response to built environment professions call for evidence.
Construction's sustainability reporting revolution
Tracking upfront embodied carbon with digital tools.
ECA welcomes procurement reforms
Public spending must back British jobs and skills.
Campaigning for Edinburgh: the Cockburn Association 1875-2049
The role of the civic voice in protecting character. Book review.
CIOB photography competition is open for entries.
ECA Edmundson apprentice of the year award
Finalists announced.
Major new study exposes serious knowledge gaps.
Generating energy from internal light as well as sunshine.
ECA welcomes plans to strengthen subcontractor quality control.