A prominent UK contractor and housebuilder engaged us to conduct an in-depth forecast of the regional construction market within Great Britain. The objective was to combine local market analysis with an broad view of the GB construction market, vital for their strategic planning and business development.
Project Objectives: Comprehensive Local and National Market Analysis
The project aimed to deliver a detailed analysis and future forecast for the local region, focusing on current market dynamics and potential developments. Additionally, the client needed an extensive overview of the GB construction market, particularly in key sectors like education, health, housebuilding, industrial, and commercial over the next three years. This comprehensive understanding was crucial for identifying and prioritizing emerging opportunities.
Research Methodology and Forecasting Model Development
Our approach encompassed an in-depth investigation using various data sources, including project planning leads, government data, and extensive web searches. This ensured a thorough understanding of the current state and future trends of the construction market. We developed an advanced forecasting model to predict output by sector and region over three years, taking into account a range of factors from broader economic trends to specific developments within sectors and regions.
Strategic Benefits and Impact on Business Strategy
The analysis provided the client with in-depth market size information, key player identification, and highlighted major opportunities within each target sector. We also pinpointed regional ‘hot-spots’ and significant framework contracts, essential for new contract opportunities. These insights were crucial for fine-tuning the client’s business planning and targeting growth in specific regions. Furthermore, our study significantly influenced the client’s budgeting process, with the senior management team utilising our report to align their financial planning with the identified market potential. This enabled informed strategic decisions for optimising growth and enhancing their presence in the regional construction market.
Conclusion: The Role of Market Analysis in Construction Strategy
The knowledge gained from the research underscores the importance of detailed market analysis and forecasting in the construction industry. Our methodical data analysis and sophisticated modelling provided the client with essential insights for strategic planning. This approach not only aided in understanding the current market landscape but also equipped them with the foresight to navigate future challenges and capitalise on market opportunities.
