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Choose two potential markets( construction related, such as railway or civil etc. ) for a contracting organisation to enter for - Essay Example
Author : vernieortiz
Engineering and Construction
Pages 8 (2008 words)
Engineering and Construction Essay Name: Institution: Summary of UK’s Construction Industry The construction industry in the United Kingdom has depicted steady growth over the past decade, with the commercial house construction industry and infrastructure or civil engineering sectors occupying the front position of the development trend…
Overall, construction advanced by 8% in the year 2010 and in the subsequent year by 2.8% (DKM Economic Consultants, 2009, P.15). Nevertheless, by the later part of the year 2011, the entire construction industry’s growth had started to become slow with a relative downturn in the year 2010. For instance, new construction orders in the year 2012 were below the preceding quarter’s level, by 8.5% (DKM Economic Consultants, 2009, P.17). At this time, the house construction sector, both public and private suffered a major blow, and only infrastructure construction showed slight signs of development, as the government made the attempt to keep the civil works running, through collaboration with private investors. This implies that, by the year 2012, the house construction segment had been surpassed by civil engineering in terms of performance and industry leadership. The United Kingdom’s construction industry is a major economic pillar, since it contributes about a tenth of Britain’s (GDP), provides work to approximately 1.4 million individuals and accrues revenue of about ?65 billion per year. ...