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UK Construction Market Analysis

Report ID: GMI6308
Published Date: Jul 2023
Report Format: PDF

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UK Construction Market Analysis

UK Construction Market Size, By Type, 2021 - 2032 (USD Billion)

Based on type, the residential segment held approximately 15% share of the UK construction market in 2022 and is predicted to reach USD 70 billion in 2032. The increasing demand for housing, driven by population growth and urbanization, will spur the development of new residential projects. Additionally, government initiatives to address housing shortages and promote affordable housing will contribute to the residential construction sector segment expansion. Advancements in technologies and sustainable building practices will also play a role in attracting investments and driving growth in this segment.

UK Construction Market Share, By End-User (2022)

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Based on end use, the private sector is witnessing an increasing emphasis on sustainability in its construction projects. They are integrating green building practices, renewable energy systems, and eco-friendly materials, thereby aligning with the country's commitment to environmental preservation & sustainable development. Moreover, the emergence of construction technology startups in the UK private sector has spurred innovation and fostered growth, driving advancements in construction practices and enhancing overall efficiency. These developments reflect the construction industry's commitment to embracing eco-conscious approaches and adopting cutting-edge technologies for a more sustainable future.

Based on the contracting type, the UK construction market is divided into general contracting, design-build contracting, and construction management. A contractor manages an entire project by coordinating all the aspects of the construction process. This includes subcontracting various trades, overseeing the project schedule, and handling the budget. A general contractor assumes the responsibility of ensuring smooth project execution, adhering to quality standards, and delivering the final product to the client. This approach remains a common method for project management and execution in the UK construction sector.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for construction in U.K. reached USD 239.46 billion in 2022 and will witness more than 3.5% CAGR from 2023 to 2032, driven by the rising focus on energy efficiency, sustainability, and technological integration in building projects.

The residential construction industry held over 15% of the overall revenue share in U in 2022 and will exceed USD 70 billion in 2032 owing to the increasing demand for housing along with rapid population growth and urbanization.

The private end use segment recorded 74.2% share of the U.K. construction market in 2022 due to the growing emphasis on sustainability in its construction projects.

Balfour Beatty plc, Ferrovial S.A., Acciona, S.A, Interserve Group Limited, Costain Group PLC, Taylor Wimpey Plc, Crest Nicholson Holdings PLC, and Berkeley Group Holdings PLC. are some of the major key industry players.