{
  "query": "UK construction cost and schedule overrun trends 2024-2026 steel industry benchmarks",
  "raw_results": [
    {
      "url": "https://www.globenewswire.com/news-release/2026/04/29/3283507/0/en/united-kingdom-steel-industry-report-2026-now-available.html",
      "title": "United Kingdom Steel Industry Report 2026 | Now Available",
      "content": "Accessibility: Skip TopNav\n\n# United Kingdom Steel Industry Report 2026 | Now Available\n\n## The UK steel market is set to rise from US$ 57.91 billion in 2025 to US$ 82.49 billion by 2034, growing at a CAGR of 4.01%. This growth is fueled by ongoing infrastructural modernization, rising electric vehicle production, and the increasing use of high-strength, sustainable steel across various industries. Key sectors include building and construction, automotive, and renewable energy, with London, Manchester, and Liverpool being major regional hubs. The market faces challenges from high energy costs and competitive pressures but remains vital for a sustainable future. Notable companies include ArcelorMittal, Tata Steel, and Nucor Corporation. [...] Dublin, April 29, 2026 (GLOBE NEWSWIRE) -- The \"United Kingdom Steel Market Report by Type, Product, Application, Cities and Companies Analysis 2026-2034\" report has been added to  ResearchAndMarkets.com's offering.  \n  \nThe UK steel market is anticipated to surge from US$ 57.91 Billion in 2025 to US$ 82.49 Billion in 2034, driven by continuous demand from building and construction, infrastructure, automotive, and renewable energy industries. The market is expected to grow at a CAGR of 4.01% from 2026-2034, due to ongoing infrastructural modernization, electric vehicle production growth, and the increasing application of high strength and sustainable steel grades in various industrial uses. [...] At the same time, policy pressure accelerates investment in more energy-efficient buildings, retrofits, and transport systems, which often incorporate steel solutions. TotalEnergies is actively deploying its integrated power strategy, with a renewable portfolio in the UK that includes 1.1GW of installed capacity and 4.5GW under development in offshore wind and solar projects. In late 2025, TotalEnergies acquired a pipeline of 350MW of solar and 85MW of battery projects expected to be operational by 2028.  \n  \nIndustrial Manufacturing, Automotive & Re-shoring Trends",
      "score": 0.8752871,
      "raw_content": null
    },
    {
      "url": "https://www.gov.uk/government/publications/steel-strategy/the-uk-steel-strategy-web-version",
      "title": "The UK steel strategy (web version) - GOV.UK",
      "content": "It is investing £50 million to build a new EAF to upgrade its existing site in Sheffield in 2026, increasing annual plant productivity to over 500,000 tonnes of stainless steel products.\n\n##### Special Melted Products\n\nIn July 2025, Walsin Lihwa announced a major investment in its Special Melted Products factory in Sheffield, introducing new capabilities in aerospace and energy materials as well as over 200 new jobs by 2028.\n\n### Green steel production\n\nThe future UK steel sector will not be the same as the steel sector of the past, or of today. The UK’s remaining blast furnaces are reaching the end of their operational lifespan, and it will be increasingly uneconomical for steel producers to sustain these ageing assets. [...] Funds (about £75 million):\n\nRegeneration projects (about £30 million):\n\n#### 7 Steel\n\nIn 2025, Seven Global Investments purchased the Cardiff-based Celsa Steel UK to form 7 Steel UK. Its main plant in Cardiff has an EAF with a capacity of 1.2 million tonnes, producing products for the construction sector, including:\n\n7 Steel uses 98% scrap in its steel products, helping to drive down its carbon intensity and is currently installing a new hydrogen-ready furnace in one of its rolling mills, as a key element of its drive towards net zero production.\n\n#### North Lincolnshire\n\n##### British Steel\n\nBritish Steel, headquartered in Scunthorpe with additional operations in Teesside, is the largest long steel products producer in the UK, operating the country’s last remaining blast furnaces. [...] ##### Tata Steel UK\n\nTata Steel has a substantial footprint in the UK through its Port Talbot site, alongside additional sites in North Wales and Hartlepool. This plays an important part in the supply chain for advanced manufacturing growth sectors, including automotive production at both Jaguar Land Rover and BMW.\n\nIn September 2024, the UK government announced an investment of £500 million in grant funding to support Tata’s £1.25 billion capital project at Port Talbot Steelworks, constructing a large EAF and supporting infrastructure.\n\n5,000 jobs have been secured nationwide post transition, and an improved deal for the workers impacted by the transformation following co-operative negotiations between Tata Steel and trade unions.",
      "score": 0.6680367,
      "raw_content": null
    },
    {
      "url": "https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/articles/constructionstatistics/2024",
      "title": "Construction statistics, Great Britain: 2024",
      "content": "This is the latest release.\n\nContact:   \nConstruction statistics team\n\nRelease date:   \n19 February 2026\n\n## Table of contents\n\nPrint this \nArticle\n\nDownload as PDF\n\n## 1. Main points\n\nThe value of construction new work in current prices in Great Britain during 2024 increased by 1.4% to £140,684 million; this increase was driven solely by a rise of 6.7% (£2,592 million) in public sector new work as the private sector fell by 0.7% (£688,000).\n\nConstruction new orders grew by 5.6% in 2024 to £71,707 million, driven predominantly by increases in private commercial, other public non-housing and private infrastructure; the only sectors to decrease were private new housing, public new housing and private industrial. [...] In the 12 months to December 2024, there was growth in the all-Construction Output Price Index of 3.4%.\n\nAt the lower level, repair and maintenance, and new work output prices increased across the 12 months to December 2024 by 2.7% and 3.7%, respectively.\n\nMethodology improvements were made to a range of deflators used in the national accounts in Blue Book 2025, including changes to the repair and maintenance deflator. More information can be found in our Deflator improvements to the UK National Accounts: Blue Book 2025 article.\n\n## 6. Trends in the construction industry [...] ## 6. Trends in the construction industry\n\nIn 2024, the construction industry increased focus on sustainability following regulatory changes introduced early in the year, including enhanced energy efficiency requirements for new buildings and overheating mitigation standards. The sector saw greater adoption of low carbon technologies and sustainable materials, prompting a need for specialised skills. Consequently, industry-wide efforts were made to address the skill gap in low carbon construction. These developments have influenced project planning, procurement and costs, reflecting a broader transition toward environmentally responsible building practices (UK GBC, 2025 Trends in Sustainable Solutions for the Built Environment 2024).",
      "score": 0.6546525,
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    },
    {
      "url": "https://www.tmhcc.com/en/news-and-articles/thought-leadership/trade-credit-uk-metals-sector-report-2025",
      "title": "UK Metals Sector Report 2025 - Tokio Marine HCC",
      "content": "The sectoral outlook for the remainder of 2025 is mixed. The last-minute nationalisation of British Steel’s Scunthorpe steel plant in April highlights the ongoing problems steel-making in the UK is facing: high energy costs, the need to reduce the industry’s high carbon footprint and generally low demand for its products pose persistent challenges( . Macroeconomic conditions have deteriorated in the first half of 2025 and comparatively high interest rates will continue to weigh on credit risk. Positively, the prospect of a UK-US trade war has subsided, following an agreement between the two governments in May.\n\nMacroeconomics [...] Additionally, the UK government continues to work on its steel strategy. After having come into office in mid-2024, the Labour administration had already earmarked GBP2.5bn for the sector, on top of GBP500m support for Tata Steel’s new electric arc furnace (EAF) in Port Talbot. The nationalisation of British Steel’s Scunthorpe plant will also require additional resources, thereby putting a further strain on already stretched public finances. Maintaining a certain degree of strategic independence from the China-dominated global steel market and making production greener (via EAF or investing in hydrogen-based steel making) are likely to remain key priorities for the UK government going forward. However, even if companies’ potential access to the newly created National Wealth Fund [...] With energy costs accounting for 20%-40% of total steel production costs, the price shock following the start of the Russia-Ukraine war in 2022 had a negative effect on companies’ cost base. Also problematically, the UK has the highest industrial electricity costs in the G7; prices stand 46% above the International Energy Agency’s median as British power plants often run on natural gas(file:///C:/Users/mmartinez2/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/WVXMK5N2/Metals%20Sector%20Note%20May%202025.docx#_ftn1)\n\nSource: ONS",
      "score": 0.6102915,
      "raw_content": null
    },
    {
      "url": "https://www.arcadis.com/en-gb/insights/perspectives/europe/united-kingdom/uk-construction-market-view-spring-2026",
      "title": "UK Construction Market Outlook Spring 2026 - Arcadis",
      "content": "The Spring 2026 Arcadis UK Market View examines the forces shaping the UK construction market, from shifts in sector performance and regional activity to emerging cost pressures and long-term infrastructure investment.\n\n## UK construction industry trends, growth, and inflation insights\n\nThe Spring 2026 Arcadis UK Market View provides a data-driven perspective on the forces shaping the UK construction sector. The report combines market research and analysis, sector insights, and forward-looking forecasts to help industry leaders navigate an uncertain recovery.\n\nConstruction growth and sector performance analysis—how residential, commercial, infrastructure, and public sectors are diverging in a two-speed recovery. [...] Download report  (4.53 MB)\n\n## UK Market View Archive\n\nArcadis downloads  download\\_items\n\n## Stay ahead of UK construction sector trends\n\nConstruction markets are evolving quickly. From shifts in the construction pipeline and infrastructure investment to changes in labour availability and material and energy costs, industry conditions can change rapidly from quarter to quarter. Staying informed is essential for organisations planning projects, managing risk, and making investment decisions. [...] ## What the latest UK construction forecast means for 2026\n\nThe UK construction sector may be approaching the bottom of the current cycle, but a sustained recovery remains uncertain. While the pipeline of future work is growing, affordability pressures, regulatory hurdles, and delayed investment decisions continue to slow project delivery.\n\nFor clients and contractors, this creates a narrow window where labour availability and competitive tender conditions may work in their favour—before cost pressures and market demand begin to rise again.\n\nThe Spring 2026 Arcadis UK Market Viewexplores what these trends mean for construction growth, costs, and sector performance in the year ahead.\n\n### Get the full UK Market View – Spring 2026 UK Construction Market View Review our report now!",
      "score": 0.59372765,
      "raw_content": null
    }
  ],
  "formatted": "Source: United Kingdom Steel Industry Report 2026 | Now Available\nURL: https://www.globenewswire.com/news-release/2026/04/29/3283507/0/en/united-kingdom-steel-industry-report-2026-now-available.html\nAccessibility: Skip TopNav # United Kingdom Steel Industry Report 2026 | Now Available ## The UK steel market is set to rise from US$ 57.91 billion in 2025 to US$ 82.49 billion by 2034, growing at a CAGR of 4.01%. This growth is fueled by ongoing infrastructural modernization, rising electric vehicle production, and the increasing use of high-strength, sustainable steel across various industries. Key sectors include building and construction, automotive, and renewable energy, with London, Manchester, and Liverpool being major regional hubs. The market faces challenges from high energy costs and competitive pressures but remains vital for a sustainable future. Notable companies include ArcelorMittal, Tata Steel, and Nucor Corporation. [...] Dublin, April 29, 2026 (GLOBE NEWSWIRE) -- The \"United Kingdom Steel Market Report by Type, Product, Application, Cities and Companies Analysis 2026-2034\" report has been added to ResearchAndMarkets.com's offering. The UK steel market is anticipated to surge from US$ 57.91 Billion in 2025 to US$ 82.49 Billion in 2034, driven by continuous demand from building and construction, infrastructure, automotive, and renewable energy industries. The market is expected to grow at a CAGR of 4.01% from 2026-2034, due to ongoing infrastructural modernization, electric vehicle production growth, and the increasing application of high strength and sustainable steel grades in various industrial uses. [...] At the same time, policy pressure accelerates investment in more energy-efficient buildings, retrofits, and transport systems, which often incorporate steel solutions. TotalEnergies is actively deploying its integrated power strategy, with a renewable portfolio in the UK that includes 1.1GW of installed capacity and 4.5GW under development in offsh\n\n---\n\nSource: The UK steel strategy (web version) - GOV.UK\nURL: https://www.gov.uk/government/publications/steel-strategy/the-uk-steel-strategy-web-version\nIt is investing £50 million to build a new EAF to upgrade its existing site in Sheffield in 2026, increasing annual plant productivity to over 500,000 tonnes of stainless steel products. ##### Special Melted Products In July 2025, Walsin Lihwa announced a major investment in its Special Melted Products factory in Sheffield, introducing new capabilities in aerospace and energy materials as well as over 200 new jobs by 2028. ### Green steel production The future UK steel sector will not be the same as the steel sector of the past, or of today. The UK’s remaining blast furnaces are reaching the end of their operational lifespan, and it will be increasingly uneconomical for steel producers to sustain these ageing assets. [...] Funds (about £75 million): Regeneration projects (about £30 million): #### 7 Steel In 2025, Seven Global Investments purchased the Cardiff-based Celsa Steel UK to form 7 Steel UK. Its main plant in Cardiff has an EAF with a capacity of 1.2 million tonnes, producing products for the construction sector, including: 7 Steel uses 98% scrap in its steel products, helping to drive down its carbon intensity and is currently installing a new hydrogen-ready furnace in one of its rolling mills, as a key element of its drive towards net zero production. #### North Lincolnshire ##### British Steel British Steel, headquartered in Scunthorpe with additional operations in Teesside, is the largest long steel products producer in the UK, operating the country’s last remaining blast furnaces. [...] ##### Tata Steel UK Tata Steel has a substantial footprint in the UK through its Port Talbot site, alongside additional sites in North Wales and Hartlepool. This plays an important part in the supply chain for advanced manufacturing growth sectors, including automotive produ\n\n---\n\nSource: Construction statistics, Great Britain: 2024\nURL: https://www.ons.gov.uk/businessindustryandtrade/constructionindustry/articles/constructionstatistics/2024\nThis is the latest release. Contact: Construction statistics team Release date: 19 February 2026 ## Table of contents Print this Article Download as PDF ## 1. Main points The value of construction new work in current prices in Great Britain during 2024 increased by 1.4% to £140,684 million; this increase was driven solely by a rise of 6.7% (£2,592 million) in public sector new work as the private sector fell by 0.7% (£688,000). Construction new orders grew by 5.6% in 2024 to £71,707 million, driven predominantly by increases in private commercial, other public non-housing and private infrastructure; the only sectors to decrease were private new housing, public new housing and private industrial. [...] In the 12 months to December 2024, there was growth in the all-Construction Output Price Index of 3.4%. At the lower level, repair and maintenance, and new work output prices increased across the 12 months to December 2024 by 2.7% and 3.7%, respectively. Methodology improvements were made to a range of deflators used in the national accounts in Blue Book 2025, including changes to the repair and maintenance deflator. More information can be found in our Deflator improvements to the UK National Accounts: Blue Book 2025 article. ## 6. Trends in the construction industry [...] ## 6. Trends in the construction industry In 2024, the construction industry increased focus on sustainability following regulatory changes introduced early in the year, including enhanced energy efficiency requirements for new buildings and overheating mitigation standards. The sector saw greater adoption of low carbon technologies and sustainable materials, prompting a need for specialised skills. Consequently, industry-wide efforts were made to address the skill gap in low carbon construction. These \n\n---\n\nSource: UK Metals Sector Report 2025 - Tokio Marine HCC\nURL: https://www.tmhcc.com/en/news-and-articles/thought-leadership/trade-credit-uk-metals-sector-report-2025\nThe sectoral outlook for the remainder of 2025 is mixed. The last-minute nationalisation of British Steel’s Scunthorpe steel plant in April highlights the ongoing problems steel-making in the UK is facing: high energy costs, the need to reduce the industry’s high carbon footprint and generally low demand for its products pose persistent challenges( . Macroeconomic conditions have deteriorated in the first half of 2025 and comparatively high interest rates will continue to weigh on credit risk. Positively, the prospect of a UK-US trade war has subsided, following an agreement between the two governments in May. Macroeconomics [...] Additionally, the UK government continues to work on its steel strategy. After having come into office in mid-2024, the Labour administration had already earmarked GBP2.5bn for the sector, on top of GBP500m support for Tata Steel’s new electric arc furnace (EAF) in Port Talbot. The nationalisation of British Steel’s Scunthorpe plant will also require additional resources, thereby putting a further strain on already stretched public finances. Maintaining a certain degree of strategic independence from the China-dominated global steel market and making production greener (via EAF or investing in hydrogen-based steel making) are likely to remain key priorities for the UK government going forward. However, even if companies’ potential access to the newly created National Wealth Fund [...] With energy costs accounting for 20%-40% of total steel production costs, the price shock following the start of the Russia-Ukraine war in 2022 had a negative effect on companies’ cost base. Also problematically, the UK has the highest industrial electricity costs in the G7; prices stand 46% above the International Energy Agency’s median as British power plants o\n\n---\n\nSource: UK Construction Market Outlook Spring 2026 - Arcadis\nURL: https://www.arcadis.com/en-gb/insights/perspectives/europe/united-kingdom/uk-construction-market-view-spring-2026\nThe Spring 2026 Arcadis UK Market View examines the forces shaping the UK construction market, from shifts in sector performance and regional activity to emerging cost pressures and long-term infrastructure investment. ## UK construction industry trends, growth, and inflation insights The Spring 2026 Arcadis UK Market View provides a data-driven perspective on the forces shaping the UK construction sector. The report combines market research and analysis, sector insights, and forward-looking forecasts to help industry leaders navigate an uncertain recovery. Construction growth and sector performance analysis—how residential, commercial, infrastructure, and public sectors are diverging in a two-speed recovery. [...] Download report (4.53 MB) ## UK Market View Archive Arcadis downloads download\\_items ## Stay ahead of UK construction sector trends Construction markets are evolving quickly. From shifts in the construction pipeline and infrastructure investment to changes in labour availability and material and energy costs, industry conditions can change rapidly from quarter to quarter. Staying informed is essential for organisations planning projects, managing risk, and making investment decisions. [...] ## What the latest UK construction forecast means for 2026 The UK construction sector may be approaching the bottom of the current cycle, but a sustained recovery remains uncertain. While the pipeline of future work is growing, affordability pressures, regulatory hurdles, and delayed investment decisions continue to slow project delivery. For clients and contractors, this creates a narrow window where labour availability and competitive tender conditions may work in their favour—before cost pressures and market demand begin to rise again. The Spring 2026 Arcadis UK Market"
}