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Construction in Australia – Key Trends and Opportunities by State and Territory to 2020

  • June 2016
  • -
  • Timetric
  • -
  • 324 pages

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Synopsis
Construction activity in Australia was weak in 2015, mainly reflecting the downturn in the mining sector. The country’s construction industry contracted by 4.0% in real terms that year and output value measured at constant 2010 US dollar exchange rates fell from US$190.6 billion in 2014 to US$182.9 billion in 2015.

Over the forecast period (2016–2020), the industry is expected to remain sluggish, owing to weakness in the industrial sector (which includes mining-related construction works). However, there will be a pick up in infrastructure investment, which will contribute to positive annual growth towards the end of the forecast period.

In real terms, the industry is expected to register a compound annual growth rate (CAGR) of -1.55% over the forecast period, down from 2.65% during the review period (2011–2015). The industry’s output value in real terms is expected to decline from US$182.9 billion in 2015 to US$169.2 billion in 2020, measured at constant 2010 US dollar exchange rates.

Despite a slowdown in the mining sector and the cancellation of various oil and gas projects, the infrastructure, commercial and institutional construction markets are expected to support the industry’s output over the forecast period. This is a result of a rise in government spending on the education and healthcare sectors, and retail sales growth. In addition, various infrastructure development programs such as the Investment Road and Rail Program, the Black Spot Program, the Roads to Recovery Program and the National Highway Upgrade Program will support the Australian construction industry.

Summary
Timetric’s Construction in Australia – Key Trends and Opportunities by State and Territory to 2020 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

• Analysis of equipment, material and service costs for each project type in Australia

• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Australian construction industry

• Profiles of the leading operators in the Australian construction industry

• Data highlights of the largest construction projects in Australia

Scope
This report provides a comprehensive analysis of the construction industry in Australia It provides:

• Historical (2011-2015) and forecast (2016-2020) valuations of the construction industry in Australia using construction output and value-add methods

• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type

• Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)

• Analysis of key construction industry issues, including regulation, cost management, funding and pricing

• Detailed profiles of the leading construction companies in Australia

Reasons To Buy
• Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.

• Assess business risks, including cost, regulatory and competitive pressures.

• Evaluate competitive risk and success factors.

Key Highlights
• According to the latest Australian Bureau of Statistics (ABS) data on new building, there has been clear evidence of an expansion in residential and non-residential construction. The total number of dwelling units approved by the government in the country grew by 13.8% from 208,230 units in 2014 to 236,904 units in 2015. Of the total dwelling units, 233,207 units were taken by the private sector, while 3,697 units were taken by the public sector.

• The government’s plan to provide affordable houses across the country to the low- and middle-income groups is expected to drive growth in the residential construction market over the forecast period. In January 2016, the New South Wales Government announced the 10-year reform program, through which it plans to build 23,000 new social houses through the public-private partnership (PPP) model by 2026.

• The Australian government aims to develop the rail network across the country to improve mobility of goods and citizens and support economic growth. In 2014, the government launched the Inland Rail Project with an investment of AUD10.7 billion (US$8.1 billion). The government plans to build 1,711km of railway track between Melbourne and Brisbane by 2025.

• The Department of Transport, Planning and Local Infrastructure (DTPLI) and Public Transport Victoria are focusing on improving the transport network in Victoria to reduce road traffic congestion and support economic growth. With an investment of AUD1.3 billion (US$979.8 million), the Victorian government is upgrading the CityLink Tullamarine corridor from the West Gate Freeway to Melbourne Airport under the CityLink Tulla Widening project.

• The industrial construction market is expected to be impacted by the declining mining industry. The mining industry’s production has fallen due to rapid drop in prices of commodities such as coal, uranium and gas, which has stemmed in part from weak commodity demand from China and emerging countries. The deployment of renewable energy worldwide has also impacted the country’s mining industry.

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