UK Construction Market Size (2024 - 2029)

UK Construction Market Analysis

The UK Construction Market size is estimated at USD 398.68 billion in 2024, and is expected to reach USD 466.57 billion by 2029, growing at a CAGR of 3.19% during the forecast period (2024-2029).

The increasing building activities across the United Kingdom are driving the market. Furthermore, the market is being propelled by growing commercial activities. Even though the general trends point to significant expansion, the UK construction industry has recently faced numerous difficulties. Inflation and Russia's invasion of Ukraine have disrupted the supply chain and pushed up the price of building materials.

There has been a significant recovery, with favorable growth rates in the United Kingdom’s construction output. According to the Office for National Statistics UK, the value of new construction works in current prices in Great Britain reached a record high of GBP 132,989 million (USD 168,027 million) in 2022, which was mainly due to an increase in both domestic and public sector work amounting to GBP 14,093 million and GBP 4,068 million (USD 5,138 million), respectively.

In addition, new construction orders increased by 11.4% to GBP 80,837 million (USD 102,116 million) in 2022, driven by private infrastructure, private businesses, and other public non-housing, with industrial being the only sector that registered a decline.

In Great Britain, construction-related employees (excluding self-employment) totaled 1.4 million in 2022, an increase of 3.3% compared to 2021. England had the most significant increase in construction-related employees, amounting to 3.5%, followed by Wales and Scotland registering a 2.0% increase each.

UK Construction Industry Segmentation

Construction is the installation, maintenance, and repair of buildings and other stationary structures, as well as the construction of roadways and service facilities that form fundamental components of structures and are required for their operation. Construction encompasses the processes involved in constructing buildings, infrastructure, industrial facilities, and related operations from start to finish. A complete background analysis of the UK construction market, including an assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and the COVID-19 pandemic’s impact, is covered in the report.

The UK construction market is segmented by sector (residential, commercial, industrial, infrastructure, and energy and utilities) and key regions (England, Northern Ireland, Scotland, and Wales). The report offers market sizes and forecasts for all the above segments in value (USD).