United Kingdom Construction Market Size, Share, Price, Trends, Analysis, Forecast: By End Use: Commercial, Residential, Education and Research, Medical and Healthcare, Others; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2023-2028

United Kingdom Construction Market Outlook

The United Kingdom construction market size reached approximately USD 352.8 billion in 2022. The market is further projected to grow at a CAGR of 2.90% between 2023 and 2028, reaching a value of USD 418.81 billion by 2028.

Key Trends in the Market

Construction refers to the process involving the assembly of structures to create an infrastructure. Construction not only involves building but also altering, repairing, demolishing, remodelling, and improving of an infrastructure. It is vital for optimum functioning of society as it boosts connectivity and creates spaces and buildings that strengthen communities.

• Growing urbanisation and rising disposable income are boosting the development of commercial and residential sectors, among others. The government of the United Kingdom is investing heavily in the infrastructural development projects intended for road and rail airports upgradation, among others, boosting the United Kingdom construction market demand.

• Rising popularity of renovating and remodelling homes and business establishment is another major trend supporting the market expansion. Several homeowners and entrepreneurs are seeking modern features and amenities and remodelling allows them to add these contemporary elements such as energy-efficient appliances, among other products in their new spaces.

• The government of the United Kingdom has introduced smart city projects and are taking step towards enhancing the quality of life for their residents. They are increasingly focussing on building robust digital infrastructure with high-speed internet connectivity and are prioritising sustainable and efficient transportation solutions, supporting the United Kingdom construction market growth.

• Increasing concerns for sustainability have encouraged the adoption of green building initiatives and sustainable practices including utilisation of economically friendly construction methods, development of energy efficient buildings, and use of renewable materials. The key market player are developing energy-efficient windows and solar panels which reduce carbon footprint as well as utility costs.

United Kingdom Construction Market Analysis

Based on end use, the market is segmented into commercial, residential, education and research, and medical and healthcare, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United Kingdom construction market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Kier Group plc

• Balfour Beatty Plc

• Morgan Sindall Group

• Laing O’Rourke

• Willmott Dixon Holdings Limited

• Galliford Try Holdings plc

• BAM Nuttall Ltd.

• Mace Group

• ISG Ltd.

• Skanska Group

• Others

Market Share by End Use

Residential sector is anticipated to account for a significant United Kingdom construction market share owing to the rising demand for new homes and apartments, among other housing infrastructure due to increasing population and growing urbanisation. The rising shortage of residential buildings in urban areas is further supporting the market expansion.

Commercial sector is expected to witness rapid growth over the forecast period owing to the increasing expansion of various businesses, boosting the demand for establishment of corporate buildings, retail spaces, office spaces, and warehouses, among others. The booming tourism sector is also aiding the segment growth as it is boosting the requirement for hotels and restaurants, among others in the United Kingdom.

Competitive Landscape

Kier Group plc was founded in 1928 and is headquartered in Manchester, United Kingdom. The construction company provides infrastructure services, construction, and property developments to its customers across the globe.

Balfour Beatty Plc is an infrastructure company that was founded in 1909 and is headquartered in London, United Kingdom. The company specialises in construction services, infrastructure investments, and support services, among others.

Morgan Sindall Group was established in 1977 and has its headquarters located in London, United Kingdom. The construction company provides design, refurbishment and maintenance services, and engineering consultancy for its customers around the globe.

Other United Kingdom construction market key players include Laing O’Rourke, Willmott Dixon Holdings Limited, Galliford Try Holdings plc, BAM Nuttall Ltd., Mace Group, ISG Ltd., and Skanska Group, among others.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.