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Building Contracting Market Report 2011
Key Note Publications Ltd, Nov 2011, Pages: 115
This Key Note Market Report analyses the UK building contracting market, with a focus on UK construction output in commercial, housing, infrastructure, industrial and general construction for the private and public sectors. In 2010, the UK construction market recovered slightly after a loss in output due to the global economic downturn. Construction output in the UK was worth £117.43bn at current prices in 2010, representing growth of 5.7% on the previous year.
This Market Report analyses the industry with regards to new work and repair and maintenance, with new work accounting for 63.9% of industry output in 2010. The majority of output for new work came through private commercial construction, followed by private housing and other public work. For repair and maintenance private housing work, other private work and public housing provided the majority of output.
The market for building contracting can be complicated, with larger firms providing a range of services, from project inception through to facilities management. Not only do building contracting firms engage in construction activities, they also offer design and project consultancy, ongoing operation and maintenance services, as well as investing in infrastructure and public services through public private partnerships (PPPS) and the public finance initiative (PFI).
In recent years building contractors have faced economic difficulties, with the UK construction market declining significantly due the global financial crises. Commercial, industrial and housing construction output has suffered significant decline in the past few years as the UK struggles to recover from the recession. Sustainability continues to be a major issue within the building contracting and construction market, with increased governmental monitoring and legislation concerning the environmental impact of building materials, construction practices and energy usage.
The future for the building contracting and construction markets is still difficult, with public-sector spending cuts giving the construction market the prospect of negative growth for next few years. Despite difficulties in the public sector, private commercial investment in construction is expected to increase from 2012 and infrastructure construction will benefit from the Government's plans for increased investment in the energy sector. Taking these factors into account, the UK construction industry is expected to recover slightly by 2013, with significant growth expected in the years following.
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