Dublin, Nov. 16, 2020 (GLOBE NEWSWIRE) -- The "Construction in the United Kingdom (UK) - Key Trends and Opportunities to 2024" report has been added to ResearchAndMarkets.com's offering.
The construction industry has been hit hard by the COVID-19 crisis, contracting by 36.4% year-on-year in the second quarter of 2020, and 19.5% in the first half of 2020. In the coming quarters, the construction industry's output growth is expected to pick up, as construction operations return to a more normal level, and are supported by the government's focus on the development of the country's residential and infrastructure sectors. However, the industry faces a number of downside risks in the short term, including the risk of a disorderly Brexit and a rise in infections. Commentators had been expecting a post-Brexit trade deal between the UK and EU, although the probability of no deal has increased significantly recently. Key divergences on issues such as state aid, fishing and financial services have lowered the likelihood of a deal being agreed by December. A failure to reach an agreement will have severe repercussions for the UK economy, particularly for the construction sector.
Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, the construction industry is forecast to contract by 13.6% in 2020. It is forecast to grow at an annual average rate of 3.2% between 2021-2024, but output in real terms will not return to pre-COVID-19 levels by 2024. The recovery will be supported by the government's focus on improving regional connectivity through the development of the country's rail and road transport infrastructure, coupled with efforts to boost energy production. The construction of Europe's largest infrastructure railway project - the GBP106 billion (US$128.4 billion) HS2 high-speed rail project, which runs between London, Birmingham, Manchester and Leeds, and creates 22,000 jobs - would help level up the country's economic growth. The construction of the Dogger bank wind farm, which would produce electricity to more than 4.5 million homes in the UK, will contribute to achieving the target of net zero emissions by 2050
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
This report provides a comprehensive analysis of the construction industry in the UK. It provides -
- Historical (2015-2019) and forecast (2020-2024) 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
4. Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
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/4qlyv3
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