The specialized construction activities sector in Australia experienced steady growth from 2013 to 2023, with the value increasing from AUD 62.07 billion to AUD 88.94 billion. This represents a CAGR of 1.93% over the last five years (2018-2023). The period from 2013-2017 saw substantial growth, with annual increases peaking at 13.31% in 2014. The growth rate moderated in recent years, with year-on-year variations between 2.97% and 3.23% from 2019 to 2023, indicating stable yet slower growth compared to earlier years.
Looking ahead, the forecast suggests continuous growth, reaching AUD 101.41 billion by 2028, with a forecasted 5-year CAGR of 2.08%. Critical trends to watch include advancements in construction technology, sustainability practices, and government infrastructure projects, which could drive market dynamics in the upcoming years.
