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UK Construction Market Size

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

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UK Construction Market Size

UK Construction Market size was valued at USD 239.46 billion in 2022 and is projected to register a CAGR of over 3.5% between 2023 and 2032. As European countries prioritize energy efficiency, sustainability, and technological integration in building projects, the UK construction sector has been compelled to adapt to these evolving trends to remain competitive. Developers and clients in the UK are increasingly seeking innovative solutions that optimize resource consumption, enhance occupant comfort, and reduce operational costs. This demand has spurred investments in smart technologies, Building Information Modeling (BIM), the Internet of Things (IoT) applications, and green building practices.

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UK construction companies are embracing advanced construction methods and materials, attracting international collaborations & opportunities, and bolstering country's position as a forward-looking player in the European construction industry. As of January 2023, greenhouse gas emissions decreased by 35% in the European buildings sector, which will ultimately aid the region in achieving climate neutrality by 2050. With such targets, it is expected that the UK will focus more on sustainable and energy-efficient infrastructure development including residential, commercial & industrial construction on all-scale projects such as mega projects, major projects, and medium & small projects.

UK Construction Market Report Attributes
Report Attribute	Details
Base Year:	2022
UK Construction Market Size in 2022:	USD 239.46 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	3.5%
2032 Value Projection:	USD 352.59 Billion
Historical Data for:	2018 - 2022
No. of Pages:	200
Tables, Charts & Figures:	97
Segments covered:	Construction Type, Contracting Type, Scale, and End Use
Growth Drivers:	Booming commercial infrastructure development Growing emphasis on modern & smart buildings across Europe Surging focus on energy-efficient & sustainable construction Proliferating demand for housing in urban areas
Pitfalls & Challenges:	Shortage of skilled labor Rising geopolitical issues

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The construction industry heavily relies on a skilled workforce to execute projects efficiently and maintain high-quality standards. Similarly, in recent years, there has been a shortage of skilled workers in various construction trades including carpenters, bricklayers, electricians, and plumbers. This shortage type can lead to delays in project completion, increased labor costs, and potential compromises in the quality of construction work.

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.