DUBLIN--(BUSINESS WIRE)--The "Construction in the United Kingdom (UK) - Key Trends and Opportunities to 2025 (Q2 2021)" report has been added to ResearchAndMarkets.com's offering.
The UK construction industry was severely impacted in 2020, due to the disruptions caused by the Coronavirus (COVID-19) outbreak and the subsequent lockdown measures. The industry contracted by 14% in real terms last year, following growth of 1.8% in 2019. According to the Office for National Statistics (ONS), the construction industry contracted by 1.2% year on year (YoY) in the first quarter of 2021, following year-on-year (Y-o-Y) declines of 5.9% in Q4, 10% in Q3 and 36.2% in Q1 2020.
The publisher expects the country's construction industry to grow by 10.6% in 2021, and record an average growth of 3% between 2022 and 2025. The industry's output will be supported by improving investor confidence and investments in transport, renewable energy, residential and commercial infrastructure projects.
In January 2021, the Chancellor Rishi Sunak announced a spending package worth GBP4.6 billion (US$5.5 billion), under which businesses in the retail, hospitality and leisure sectors can claim grants if they've been impacted by the lockdown measures. 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, which would help the country in meeting its zero-carbon emissions target by 2050.
Over the remainder of the forecast period, the industry's output will be supported by investments in infrastructure, residential and renewable energy projects. The projects include: 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; 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); the GBP21 billion (US$30 billion) offshore wind project in the North Atlantic; and the GBP95 million (US$113.2 million) High Speed2 (HS2) rail project.
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
- 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
Key Topics Covered:
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
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/t3xuqc
