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
Quality Planning for Micro and Small to Medium Sized Enterprises
A CIOB Academy Technical Information sheet.
A briefing on fall protection systems for designers
A legal requirement and an ethical must.
CIOB Ireland launches manifesto for 2024 General Election
A vision for a sustainable, high-quality built environment that benefits all members of society.
Local leaders gain new powers to support local high streets
High Street Rental Auctions to be introduced from December.
Infrastructure sector posts second gain for October
With a boost for housebuilder and commercial developer contract awards.
Sustainable construction design teams survey
Shaping the Future of Sustainable Design: Your Voice Matters.
COP29; impacts of construction and updates
Amid criticism, open letters and calls for reform.
The properties of conservation rooflights
Things to consider when choosing the right product.
Adapting to meet changing needs.
London Build: A festival of construction
Co-located with the London Build Fire & Security Expo.
Tasked with locating groups of 10,000 homes with opportunity.
Delivering radical reform in the UK energy market
What are the benefits, barriers and underlying principles.
Information Management Initiative IMI
Building sector-transforming capabilities in emerging technologies.
Recent study of UK households reveals chilling home truths
Poor insulation, EPC knowledge and lack of understanding as to what retrofit might offer.
Embodied Carbon in the Built Environment
Overview, regulations, detail calculations and much more.
Why the construction sector must embrace workplace mental health support
Let’s talk; more importantly now, than ever.
Ensuring the trustworthiness of AI systems
A key growth area, including impacts for construction.