Report cover image

Australia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Publisher GlobalData
Published Sep 29, 2023
Length 72 Pages
SKU # GBDT18294994

Description

Australia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027


Summary

GlobalData expects the Australian construction industry to grow by 4.1% in real terms this year, owing to the rise in total construction work done in the country, primarily due to robust engineering work. According to the ABS, the total value of construction work done in Australia rose by 8.4% in first half of 2023, this was due to a 16.0% YoY rise in civil engineering work and a 2.4% YoY rise in building work done during the period. However, the output of the construction industry is expected to decline by 2.5% in 2024, owing to subdued investor and consumer confidence amid elevated inflation, interest rates, high construction costs, falling building permits, labour shortages and the continued downturn in the residential construction sector. According to Australian Securities and Investments Commission (ASIC), during the first nine months of 2023 a total 1,796 building companies collapsed, a 36% YoY increase compared to the same period of 2022. For instance, the Australian home-builder Porter Davis Homes - which had 1700 homes under construction across Victoria (1,500) and Queensland (200) - went into liquidation in March 2023.

The industry is however expected to record an average annual growth of 3% from 2025 to 2027, supported by the government’s continued focus on infrastructure development, coupled with investment in the transport, housing, renewable energy, health, education, and manufacturing sector. In August 2023, the federal government approved the construction of 1.2 million new homes over five years from 2025. To support this target, states and territories will receive incentive payments of up to AUD4.7 billion ($3 billion). Further support for industry growth will be provided by state government initiatives to improve regional connectivity through the development of major transport infrastructure projects. For instance, the Victorian government announced funding of AUD6.6 billion ($4.6 billion) for works on the state’s road network over the next 10 years, while the state government of Tasmania announced AUD2.2 billion ($1.5 billion) for the development of transport infrastructure over the next four years.

The report provides detailed market analysis, information, and insights into the Australian construction industry, including -
  • The Australian construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Australian construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope

This report provides a comprehensive analysis of the construction industry in Australia. It provides -
  • Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Australia, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants
    • Reasons to Buy
    • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
    • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
    • Understand the latest industry and market trends.
    • Formulate and validate strategy using GlobalData's critical and actionable insight.
    • Assess business risks, including cost, regulatory and competitive pressures.
    • Evaluate competitive risk and success factors.

    Table of Contents

    72 Pages
    1 Executive Summary
    2 Construction Industry: At-a-Glance
    3 Context
    3.1 Economic Performance
    3.2 Political Environment and Policy
    3.3 Demographics
    3.4 Risk Profile
    4 Construction Outlook
    4.1 All Construction
    Outlook
    Latest news and developments
    Construction Projects Momentum Index
    4.2 Commercial Construction
    Outlook
    Project analytics
    Latest news and developments
    4.3 Industrial Construction
    Outlook
    Project analytics
    Latest news and developments
    4.4 Infrastructure Construction
    Outlook
    Project analytics
    Latest news and developments
    4.5 Energy and Utilities Construction
    Outlook
    Project analytics
    Latest news and developments
    4.6 Institutional Construction
    Outlook
    Project analytics
    Latest news and developments
    4.7 Residential Construction
    Outlook
    Project analytics
    Latest news and developments
    5 Construction Outlook – States and Territories
    5.1 New South Wales
    5.2 Victoria
    5.3 Queensland
    5.4 South Australia
    5.5 Western Australia
    5.6 Tasmania
    5.7 Northern Territory
    5.8 Australian Capital Territory
    6 Key Industry Participants
    6.1 Contractors
    6.2 Consultants
    7 Construction Market Data
    8 Appendix
    8.1 What is this Report About?
    8.2 Definitions
    8.3 CRI Methodology
    9 About GlobalData
    "
    1 About GlobalData
    List of Tables
    Table 1: Construction Industry Key Data
    Table 2: Australia, Key Economic Indicators
    Table 3: Australia, Commercial Construction Output by Project Type (Real % Change), 2018–27
    Table 4: Australia, Top Commercial Construction Projects by Value
    Table 5: Australia, Industrial Construction Output by Project Type (Real % Change), 2018–27
    Table 6: Australia, Top Industrial Construction Projects by Value
    Table 7: Australia, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
    Table 8: Australia, Top Infrastructure Construction Projects by Value
    Table 9: Australia, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
    Table 10: Australia, Top Energy and Utilities Construction Projects by Value
    Table 11: Australia, Institutional Construction Output by Project Type (Real % Change), 2018–27
    Table 12: Australia, Top Institutional Construction Projects by Value
    Table 13: Australia, Residential Construction Output by Project Type (Real % Change), 2018–27
    Table 14: Australia, Top Residential Construction Projects by Value
    Table 15: Australia, Key Contractors
    Table 16: Australia, Key Consultants
    Table 17: Australia, Construction Output Value (Real, $ Million)
    Table 18: Australia, Construction Output Value (Nominal, AUD Million)
    Table 19: New South Wales, Construction Output Value (Real, $ Million)
    Table 20: New South Wales, Construction Output Value (Nominal, AUD Million)
    Table 21: Victoria, Construction Output Value (Real, $ Million)
    Table 22: Victoria, Construction Output Value (Nominal, AUD Million)
    Table 23: Queensland, Construction Output Value (Real, $ Million)
    Table 24: Queensland, Construction Output Value (Nominal, AUD Million)
    Table 25: South Australia, Construction Output Value (Real, $ Million)
    Table 26: South Australia, Construction Output Value (Nominal, AUD Million)
    Table 27: Western Australia, Construction Output Value (Real, $ Million)
    Table 28: Western Australia, Construction Output Value (Nominal, AUD Million)
    Table 29: Tasmania, Construction Output Value (Real, $ Million)
    Table 30: Tasmania, Construction Output Value (Nominal, AUD Million)
    Table 31: Northern Territory, Construction Output Value (Real, $ Million)
    Table 32: Northern Territory, Construction Output Value (Nominal, AUD Million)
    Table 33: Australia Capital Territory, Construction Output Value (Real, $ Million)
    Table 34: Australian Capital Territory, Construction Output Value (Nominal, AUD Million)
    Table 35: GlobalData Construction Market Definitions
    Table 36: Risk Dimensions
    Table 37: Ratings, Scores and Definitions
    List of Figures
    Figure 1: Australasia, Construction Output (Real % Change), 2021–27
    Figure 2: Australia, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
    Figure 3: Australia, Risk Summary
    Figure 4: Australia, Risk Regional Comparison
    Figure 5: Australia, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27
    Figure 6: Australia, Construction Output Value, by Sector (Real, $ Million), 2018–27
    Figure 7: Australia, Total Value of Construction Work Done, AUD Billion Chain Volume Measure
    Figure 8: Australia, Total Value of Building Construction Works Done, % Change YoY
    Figure 9: Australia, Private Gross Fixed Capital Formation, Seasonally Adjusted Chain Volume Measures, in AUD Billion, % Change YoY
    Figure 10: Australia, Construction Sector Jobs, in Thousands
    Figure 11: Australia, Construction Sector Jobs, in Thousands
    Figure 12: Australia, Construction Projects Momentum Index
    Figure 13: Australasia, Construction Projects Momentum Index
    Figure 14: Australia, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
    Figure 15: Australia, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
    Figure 16: Australia, Nominal Value of Commercial Buildings Approved, % Change YoY
    Figure 17: Australia, Value of Commercial Buildings Approved, % Change YoY
    Figure 18: Australia, Tourism Sector Jobs, in Thousands
    Figure 19: Australia, Retail Trade Turnover (in AUD Billion), Seasonally Adjusted
    Figure 20: Australia, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
    Figure 21: Australia, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
    Figure 22: Australia, Nominal Value of Buildings Approved for Factories and Other Secondary Production Buildings, in AUD Million
    Figure 23: Australia, Total Value of Mineral Exploration (in AUD Million)
    Figure 24: Australia, Total Exports, Current Prices, (AUD Billion)
    Figure 25: Australia, Number of New Vehicle Sales
    Figure 26: Australia, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
    Figure 27: Australia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
    Figure 28: Australia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
    Figure 29: Australia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
    Figure 30: Australia, Total Value of Petroleum Exploration (in AUD Million)
    Figure 31: Australia, Total Value of Natural Gas Exports (in AUD Million)
    Figure 32: Australia, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
    Figure 33: Australia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
    Figure 34: Australia, Nominal Value of Buildings Approved for Education, Health, and Religious Purpose, in AUD Billion
    Figure 35: Australia, Residential Construction Output by Project Type (Real, $ Million), 2018–27
    Figure 36: Australia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
    Figure 37: Australia, Total Value of Residential Building Construction Work Done, AUD Billion Chain Volume Measure
    Figure 38: Australia, Total Number of Dwelling Units Approved
    Figure 39: Australia, Total New Housing Loan Commitment, In AUD Billion, % Change YoY
    Figure 40: Australia, Headquarters of Key Contractors (% of Total Project Pipeline)
    Figure 41: Australia, Headquarters of Key Consultants (% of Total Project Pipeline)

    Pricing

    Currency Rates
    How Do Licenses Work?

    How Do Licenses Work?

    The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

    • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

    • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

    • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

    • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

    • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

    License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

    Request A Sample
    Head shot

    Questions or Comments?

    Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
    Chat Now
    Contact Us