UK Construction Market by Type (Renovation and New Construction), and by Sector (Real Estate, Infrastructure, and Industrial)–Opportunity Analysis and Industry Forecast, 2024–2030

UK Construction Market by Type (Renovation and New Construction), and by Sector (Real Estate, Infrastructure, and Industrial)–Opportunity Analysis and Industry Forecast, 2024–2030

The UK Construction Market size was valued at USD 316.86 billion in 2023, and is predicted to reach USD 439.04 billion by 2030, at a CAGR of 5.6% from 2024 to 2030.

The construction industry in this country is undergoing substantial expansion, primarily driven by the emergence of large-scale infrastructure projects. These notable projects in 2023, such as the Heathrow Expansion, The New Hospital's Programme, Houses of Parliament renovation, HS2 tunnelling, Hinkley Point C nuclear power station, and Stonehenge Tunnel, are instrumental in driving growth within the nation's construction sector. These projects not only contribute to the physical development of vital infrastructure but also generate employment opportunities and stimulate economic activity, thus further amplifying the sector's expansion and overall national growth trajectory.

However, the construction industry grapples with substantial hurdles due to the intricate landscape of government regulations and permitting procedures, mandating an array of approvals from local, regional, and national authorities. These requisites encompass zoning regulations, environmental assessments, building code adherence, safety standards, and other regulatory mandates. Permit delays, bureaucratic inefficiencies, and regulatory disparities across jurisdictions can markedly prolong project timelines and inflate costs. Moreover, fluctuations in regulations or unforeseen policy alterations can disrupt ongoing projects and deter future investments. For instance, the United States Environmental Protection Agency (EPA) oversees various facets of the construction domain, including air quality, lead management, waste disposal, and water regulations. The EPA's compliance assistance centers offer resources for navigating environmental obligations during demolition, recycling construction materials, and disposing of refrigeration and air-conditioning equipment.



Conversely, digital transformation and the adoption of Building Information Modeling (BIM) are reshaping the construction landscape by integrating state-of-the-art technologies to bolster efficiency, accuracy, and collaboration across projects. BIM, a sophisticated 3D modeling tool, empowers stakeholders to generate and manage digital representations of structures and infrastructure, thereby enhancing coordination and communication among project teams. For example, in September 2022, the National Institute of Building Sciences (NIBS) introduced the U.S. National Building Information Management (BIM) Program to revolutionize the construction industry and attain unprecedented levels of industrial efficiency through digitalization. This initiative aims to rectify the insufficient digitalization in the U.S. construction sector, impeding the optimization of lifecycle work processes to achieve heightened efficiency, cost-effectiveness, resilience, and safety in construction and maintenance endeavors.

KEY BENEFITS

The UK construction industry is segmented based on type, and sector.
Based on type, the market is segmented renovation and new construction.
Based on sector, the market is divided into real estate, infrastructure, and industrial.

Key Market Players

Leading players operating in the UK construction industry include:
• China State Construction Engineering Corp. Ltd. (CSCEC)
• China Railway Group Ltd. (CREC)
• China Railway Construction Corp. Ltd. (CRCC)
• China Communications Construction Group Ltd. (CCCC)
• Metallurgical Corporation of China Ltd. (MCC)
• Power Construction Corp. of China
• Vinci SA
• China Energy Engineering Corp. (CEEC)
• Shanghai Construction Group (SCG)
• Bouygues Group

 KEY BENEFITS
• The UK construction market report provides a quantitative analysis of the current market and estimations through 2024-2030 that assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
• The competitive analysis of the market players along with their market share in the UK construction market.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.