Interior Refurbishment & Fit Out – 5 Key Facts
- Since 2015, the interior fit out and refurbishment market has increased by 12%.
- The offices sector is the largest end-use market for fit-out and interior refurbishment works.
- BIM, shortages in traditional construction skills and growth in e-commerce are factors influencing the interior fit out and refurbishment market.
- The two largest companies within the UK interior fit-out & refurbishment market are ISG and Morgan Sindall.
- In 2020, market value is forecast to decrease by 15% due to the Coronavirus (COVID-19) pandemic and its effects upon the wider economy.
Michelle Turner Editor of the Interior Refurbishment and Fit Out Market Report states:
“The fit out and refurbishment market is driven by some familiar forces; business confidence; changes in demand for office facilities; realignment of the Governments national estate; online shopping growth and addressing the future needs of our schools, colleges and HEI’s. Now there is one very new and very prominent contender, Social Distancing. Only time will tell the true effect of the COVID-19 pandemic on this market and the impact of social distancing on each channel.”