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.
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