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RELEASED: JULY 2010
After researching the UK civil engineering market development and taking into account various other factors the following conclusions can be drawn from MBD's report:
MARKET REVIEW 2005-2009:
Despite the deteriorating economic conditions, civil engineering output in Great Britain increased by a strong 10% in 2008, which was followed by more moderate growth of 5% in 2009, taking output to £9.06 billion. This is equivalent to overall growth of 24% compared with 2005. The adverse economic climate is not believed to have had a significant impact on the civil engineering sector in the latter part of the review period, as many of the projects that went ahead had already been planned and approved prior to the deteriorating market conditions. Furthermore, the sector has benefited from the Labour Government fast-tracking infrastructure projects in a bid to kickstart the economy during 2009.
MARKET FORECAST 2010-2014:
Civil engineering construction output in Great Britain is forecast to increase throughout the five year forecast period, although annual growth levels are expected to remain moderate between 1% and 2% in real terms. In 2014, output is anticipated to reach £9934 million (at 2009 prices), equivalent to overall growth of 10% in real terms compared with 2009. Stronger growth is expected to be hindered by impending public spending cuts, which will undoubtedly affect government investment in a number of infrastructure projects. However expenditure on capital projects is anticipated to continue to increase in some sectors, most notably energy sector, offering growth potential for civil engineering companies.
NOTE TO EDITORS:
MBD specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.
Click here for full details of the UK Civil Engineering Market Research Report
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