Transport, energy and water infrastructure projects are among the sectors tipped for growth in 2011, Building reported.
The energy sector is earmarked for growth with Infrastructure UK predicting that £100bn will need to be invested between now and 2015.
“The UK has a significant nuclear decommissioning bill, an EU-driven obligation to generate 15% of UK energy from renewable sources by 2020 and a commitment to a 30% reduction in carbon emissions by the same date,” Victoria Jackson, business development manager of Davis Langdon, told Building.
This is not a paywall. Registration allows us to enhance your experience across Construction Management and ensure we deliver you quality editorial content.
Registering also means you can manage your own CPDs, comments, newsletter sign-ups and privacy settings.
At the same time the government will spend £22bn between 2010 and 2015 on the water sector. On the waste side, up to £11bn is needed between now and 2020 to meet EU targets for landfill diversion.
With several confirmed projects, the UK transport sector is seen as relatively stable compared with some other areas. Kulveer Ranger, Boris Johnson’s transport adviser, told Building: “We are in a period of unprecedented investment in transport. Post-2017, there’s Crossrail 2, high-speed rail, further development of the overground.”
Meanwhile, most several major firms are reporting an increase in overseas work and have a growing interest in new markets, including Brazil, India, China, and the Middle East. Other predicted global hotspots include Vietnam, Australia, Russia and Qatar.
Construction News reported that the office and industrial sectors are predicted to see the most growth in 2011, according to forecasts from business intelligence unit Glenigan. Private housing, retail and infrastructure are also forecast to provide more work than last year.
The forecast said: “While access to finance capital remains a constraint upon activity in both the private housing and the commercial property markets, the flow of projects in the pre-construction pipeline has improved.
“The coming year is forecast to see a turnaround in new office and industrial projects and a modest rise in private housing activity.”
The office sector is set to grow by 41 per cent this year, while the industrial sector is forecast by Glenigan to grow by 29 per cent.
