Australia Construction Market Size, Competitors & Forecast

The Construction in Australia - Key Trends and Opportunities by State and Territory to 2028 (Q3 2024) 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

Following annual growth of 9.2% in 2023, the growth of the Australian construction industry is expected to slow to 2.6% in real terms in 2024, owing to weakness in the residential sector, coupled with labour and skill shortages, material supply constraints, and high construction costs. According to the Australian Securities and Investments Commission (ASIC), companies filling for insolvency within the construction industry rose by 24.6% year on year (YoY) in the first eight months of 2024, following an annual growth of 26.5% in 2023.

The construction industry is expected to record an average annual growth of 2.8% from 2025 to 2028, supported by investment in the housing, transport infrastructure, renewable energy, and manufacturing sectors. The government is prioritising the development of its AUD120 billion ($78.1 billion) ten-year infrastructure investment pipeline of nationally significant projects, with the Financial Year (FY) 2024-25 budget providing AUD16.5 billion ($10.7 billion) over 10 years for priority road and rail infrastructure projects. Significant developments in the infrastructure sector include the commencement of construction work of the AUD26.4 billion ($17.2 billion) North East Link in Victoria in July 2024. The project is being undertaken by the State Government of Victoria (SGV) and the Department of Transport (DoT) and is scheduled to be completed by 2028. The construction industry’s growth will also be supported by government investment in initiatives like the National Housing and Homelessness Plan, which is a 10-year strategy to help Australians access safe and affordable housing, and the Housing Australia Future Fund (HAFF). In line with this, in early May 2024, the federal government announced a housing package of AUD11.3 billion ($7.4 billion), building on the August 2023 provision of AUD3.5 billion ($2.3 billion) in payments to state, territory and local governments

Scope

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

Historical (2019-2023) and forecast (2024-2028) 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 our 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 business strategies using the analyst's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

1 Executive Summary2 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

About the Analyst
Contact the Publisher

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), 2019-28
Table 4: Australia, Top Commercial Construction Projects by Value
Table 5: Australia, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Australia, Top Industrial Construction Projects by Value
Table 7: Australia, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Australia, Top Infrastructure Construction Projects by Value
Table 9: Australia, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Australia, Top Energy and Utilities Construction Projects by Value
Table 11: Australia, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Australia, Top Institutional Construction Projects by Value
Table 13: Australia, Residential Construction Output by Project Type (Real % Change), 2019-28
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: Australia Capital Territory, Construction Output Value (Nominal, AUD Million)
Table 35: the analyst Construction Market Definitions
Table 36: Risk Dimensions
Table 37: Ratings, Scores and Definitions

List of Figures

Figure 1: Australasia, Construction Output (Real % Change), 2022-28
Figure 2: Australia, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Australia, Risk Summary
Figure 4: Australia, Risk Regional Comparison
Figure 5: Australia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Australia, Construction Output Value, by Sector (Real, $ Million), 2019-28
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 (AUD Billion, % Change YoY)
Figure 10: Australia, Construction Sector Jobs, in Thousands
Figure 11: Australia, Construction Wage Price Index, 2008-2009 = 100, Hourly Pay (Excluding Bonuses)
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), 2019-28
Figure 15: Australia, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: Australia, Nominal Value of Commercial Buildings Approved, in Thousands
Figure 17: Australia, Short-Term Visitor Arrivals, in Thousands
Figure 18: Australia, Tourism Sector Jobs, in Thousands
Figure 19: Australia, Retail Trade Turnover (AUD Billion, Seasonally Adjusted)
Figure 20: Australia, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
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 (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), 2019-28
Figure 27: Australia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Australia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
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), 2019-28
Figure 33: Australia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Australia, Institutional building approvals, in AUD Million
Figure 35: Australia, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 36: Australia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Australia, Total New Housing Loan Commitment, In AUD Billion, % Change YoY
Figure 38: Australia, Total Value of Residential Building Construction Work Done, AUD Billion Chain Volume Measure
Figure 39: Australia, Total Number of Dwelling Units Approved
Figure 40: Australia, Value of Owner Occupier First Home Buyer Loan Commitments (% Change YoY)
Figure 41: Australia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 42: Australia, Headquarters of Key Consultants (% of Total Project Pipeline)

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Australia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)

Scope

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

Reasons to Buy

Table of Contents

Scope

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

Reasons to Buy

Table of Contents

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