The "United Kingdom Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The construction industry in United Kingdom is expected to grow by 4.5% to reach GBP 168.60 billion in 2024. The growth momentum is expected to continue over the forecast period, recording a CAGR of 4% during 2024-2028. The construction output in the U.K. is expected to reach GBP 197.21 billion by 2028.

A large chunk of the infrastructure spending will be used for energy and transport-related projects in the United Kingdom

The National Infrastructure and Construction Pipeline (NICP) was released in February 2024, outlining where the nation will invest in infrastructure over the next decade. Most of the investment, about 70%, will go towards the development of energy and transportation projects, while water and sewer systems will receive less funding.

The government's Infrastructure and Projects Authority (IPA) provided an analysis alongside the NICP, forecasting that between £700 - £775 billion will be spent on infrastructure in the next 10 years, combining public and private investment. Already, £379 billion has been confirmed, with £164 billion scheduled to be spent by 2024-25. The pipeline includes 660 projects and programs across different sectors, including energy, transport, social infrastructure, water, telecommunications, and other economic infrastructure.

Housing projects will aid the growth recovery of the residential construction market in 2024

The Chancellor, in March 2024, announced £242 million in funding for projects in 2024. The capital allocation will lead to the development of nearly 8,000 homes in Canary Wharf and Barking. The budget document has revealed that £124 million, of the £242 million, will be used for developing 7,200 homes in Barking. Alongside, a new life sciences hub will also be developed. The remaining £118 million has been allocated for the development of up to 750 homes in Canary Wharf, a life sciences hub, a healthcare facility, and a commercial space.

The government will also create an Euston Delivery Group and allocate £4 million to assist in the effort to build up to 10,000 new homes. In the budget, the chancellor revealed that £20 million will be allocated to support community-led housing projects, and there will be an extension of the Household Support Fund by the government.

Abrdn, in February 2024, announced an investment of £123 million for a student housing project in the United Kingdom. The investment is on behalf of their strategic partner, Phoenix Group, and their clients. These projects are expected to aid the growth recovery of the residential construction industry over the medium term in the United Kingdom.

The government is planning to boost the data center infrastructure in the United Kingdom in 2024

The British government aims to improve the country's data center infrastructure to attract more scale-up companies. The government, notably, has been also taking steps to resolve power concerns faced by digital infrastructure providers. The government, for instance, announced a £960 million plan called the Connections Action Plan to invest in the national grid in November 2023. This could reduce the average wait time for grid connections from five years to just six months, freeing up to 100 gigawatts of capacity.

With this, major tech giants are expected to enhance their data center capacities in the United Kingdom over the medium term. Google, in January 2024, announced a US$1 billion investment towards the development of a new data center in the United Kingdom. This is part of the firm's strategy to expand its data center presence in the European market.

The new facility will assist the firm in meeting the growing demand for its AI and cloud services. Going forward, in 2024, the publisher expects more such global tech giants to invest in the development of data centers in the United Kingdom. This will keep providing growth support to the broader construction market over the medium term.

This market intelligence report provides a detailed view of market opportunities in the building and infrastructure construction industry at country level. With over 100+ KPIs, covering growth dynamics in building construction, infrastructure construction, construction cost structure analysis and analysis by key cities in UK, this databook offering primarily provides data-centric analysis with charts and tables.

Report Scope

This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2019-2028 in United Kingdom.

KPIs covered include the following:

• Market size by value
• Market size by volume of construction
• Number of units

United Kingdom Economic Indicators

United Kingdom Top Cities Construction Data

United Kingdom Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Housing type (multi family, single family)
• Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
• Price point/income level (luxury, mid-tier, affordable)
• Construction stage (new construction, re-development & maintenance)

United Kingdom Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Green building by Housing type (multi family, single family)
• Green building by Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
• Green building by Price point/income level (luxury, mid-tier, affordable)

United Kingdom Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Office
• Retail
• Hospitality
• Restaurant
• Entertainment
• Sports facility
• Other commercial building construction
• Construction stage (new construction, re-development & maintenance)

United Kingdom Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Office green building construction
• Retail green building construction
• Hospitality green building construction
• Restaurant green building construction
• Entertainment green building construction
• Sports facility green building construction
• Other commercial green building construction

United Kingdom Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)

• Manufacturing Plants building construction
• Chemical & Pharmaceutical building construction
• Metal & Material Processing building construction
• Construction stage (new construction, re-development & maintenance)

United Kingdom Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Healthcare construction
• Educational construction
• Other building construction
• Construction stage (new construction, re-development & maintenance)

United Kingdom Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by

• Healthcare green building construction
• Educational green building construction

United Kingdom Infrastructure Construction Sectors: 10- year market size & forecast in value terms by

• Marine and inland water infrastructure
• Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
• Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
• Construction stage (new construction, re-development & maintenance)

United Kingdom Green Infrastructure Construction: 10- year market size & forecast in value terms

United Kingdom Construction Cost Structure Analysis: 10- year market size & forecast in value terms

• Cost Analysis by Type (Material, Labour, Equipment, Others)
• By Material & Work Cost: It provides the cost outlook of material costs by type of materials used in construction (Cement, Steel, Sand, Aggregates, Bricks, Wood, Windows Glazing, Flooring, Plumbing, Electrical, Painting, Other Materials)
• By Labour Cost: It provides the cost outlook of labour costs (RCC Construction Work, Masonry and Plastering Work, Plumbing Work, Water Proofing Work, Carpentry Work, Electrical Work, Tile Fixing Work, CATV Antenna Points, Painting Work, Departmental Labour)
• By Type of Construction (New, Re-Development)
• By Material Cost: It provides the cost outlook of material costs by type of materials used in construction (Concreting Sand, Stone Aggregate, Ordinary Portland Cement, Reinforced Concrete (Grade 30 MPA), Reinforced Concrete (Grade 40 MPA), High Tensile Steel bars, Mild Steel Round Bars, Structural Steelwork, Plywood Formwork (1800*900*12mm), Clay Bricks)
• Type of Labour (Skilled Vs Unskilled)

For more information about this report visit https://www.researchandmarkets.com/r/xmql4x

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