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 and news
Top 50 firms awarded 52bn of projects in the last year
New engineering data shows.
Enhancing construction site reporting efficiency
Through digitisation and the digital revolution.
Noise in the built environment
BSRIA guide TG 20/2021.
17,000 people suffer conditions as a result of exposure to excessive noise at work.
Turning down the noise: Auditory health
A pervasive risk with far-reaching consequences.
UK Construction Week, London is here !
Debuting major international pavilions and much more.
Getting the most out of heat pumps and heating
How heat pumps work and how they work best.
Plumbing and heating for successful retrofit and renovation
Low temperature underfloor systems and heat pumps.
Cost-of-living crisis and home improvement plans
Starting on the right footing and top tips for projects.
Delays on construction projects
Types, mitigation and the acceleration of works.
From Chaucer to Fawlty Towers.
Electrotechnical excellence, now open for entries.
Net zero electricity grids BSRIA guide NZG 5/2024
Outlining the changes needed to transition to net zero.
CIOB Global Student Challenge 2024
Universitas Indonesia wins for second year running.
ECA 2024 Apprentice of the Year Award
Entries open for submission until May 31.