Total awards have increased by £6Bn year over year, with a notable trend of a rising proportion of awards being concentrated among fewer companies compared to previous years. In the first half of this year, the top 20 contractors have secured 30% of overall awards, a significant jump from the 9% figure last year, indicating a market that is progressively consolidating. This shift stems from a mix of companies facing insolvency and enhancements in infrastructure and business development strategies. Maintaining healthy competition in any market is crucial as it drives innovation, fosters collaboration, and elevates overall performance. To stay competitive, it is essential to understand your position relative to competitors, cultivate a robust pipeline, nurture strong relationships, and evaluate if you are securing your anticipated market share. If you're interested in understanding more about whats happening in the market or how you can improve you share then have a look at Barbour ABI #contractawards #constructiongrowth #marketshare #topcontractors #barbourabi
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