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Market Research Report

Construction in Australia - Key Trends and Opportunities by State and Territory to 2023

Published by GlobalData Product code 703498
Published Content info 86 Pages
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Construction in Australia - Key Trends and Opportunities by State and Territory to 2023
Published: April 1, 2019 Content info: 86 Pages
Description

Following a period of negative growth during 2014-2016, construction activities in Australia picked up sharply in the second quarter of 2017, with the last stage of work on the multi-billion Gorgon project providing a spurt, along with the ongoing work on the Wheatstone and the Ichthys Liquefied Natural Gas (LNG) projects. As a result, construction work grew by 8.1% and 31.5% in chain volume measures in the second and third quarter of 2017 respectively, and by 10.7% for the entire year.

However, the construction industry suffered a downturn in 2018, contracting by an estimated 2.8% in real terms, reflecting a sharp drop in activity in the oil and gas sector as major projects were completed. The industry's output value, measured at constant 2017 US dollar exchange rates, declined from US$171.5 billion in 2017 to US$166.7 billion in 2018. The industry is expected to remain weak in 2019, before regaining growth momentum over the remainder of the forecast period (2019-2023). The improvement will be driven by investments in transport infrastructure, with the government planning to invest AUD75.0 billion (US$58.9 billion) to develop the country's transport infrastructure by 2027-2028.

The total construction project pipeline in Australia including all mega projects with a value above US$25 million - stands at AUD1.4 trillion (US$1.1 trillion). The pipeline, which includes all projects from pre-planning to execution, is relatively balanced, with 52.6% of the pipeline value being in projects in the pre-planning and planning stages as of April 2019.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.73% over the forecast period, compared to -1.38% during the review period (2014-2018). The industry is consequently expected to rise from a value of US$166.7 billion in 2018 to US$190.7 billion in 2023, measured at constant 2017 US dollar exchange rates.

Residential construction was the largest market in the Australian construction industry during the review period, accounting for 35.4% of its total value in 2018. The market is expected to decrease in importance over the forecast period, to account for 30.5% of the industry's total value in 2023; this is due to oversupply of residential buildings in line with the declining number of residential building permits issued. Energy and utilities construction accounted for 20.4% of the industry's total output in 2018, followed by infrastructure construction with 14.9%, commercial construction with 14.1%, industrial construction with 8.3% and institutional construction with 6.9%.

Scope

  • This report provides a comprehensive analysis of the construction industry in Australia.
  • Historical (2014-2018) and forecast (2019-2023) 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
Product Code: GDCN0482MR

Table of Contents

1. EXECUTIVE SUMMARY

2. CONSTRUCTION OUTLOOK: AT-A-GLANCE

3. LATEST NEWS AND INDICATORS

4. KEY DRIVERS AND RISKS

  • 4.1. Economic Performance
  • 4.2. Political Environment
  • 4.3. Demographics
  • 4.4. Risk Profile

5. CONSTRUCTION OUTLOOK

  • 5.1. All Construction
    • 5.1.1. Outlook
    • 5.1.2. Project analytics
  • 5.2. Commercial Construction
    • 5.2.1. Outlook
    • 5.2.2. Project analytics
  • 5.3. Industrial Construction
    • 5.3.1. Outlook
    • 5.3.2. Project analytics
  • 5.4. Infrastructure Construction
    • 5.4.1. Outlook
    • 5.4.2. Project analytics
  • 5.5. Energy and Utilities Construction
    • 5.5.1. Outlook
    • 5.5.2. Project analytics
  • 5.6. Institutional Construction
    • 5.6.1. Outlook
    • 5.6.2. Project analytics
  • 5.7. Residential Construction
    • 5.7.1. Outlook
    • 5.7.2. Project analytics

6. NEW SOUTH WALES

  • 6.1. All Construction
    • 6.1.1. Outlook

7. VICTORIA

  • 7.1. All Construction
    • 7.1.1. Outlook

8. QUEENSLAND

  • 8.1. All Construction
    • 8.1.1. Outlook

9. SOUTH AUSTRALIA

  • 9.1. All Construction
    • 9.1.1. Outlook

10. WESTERN AUSTRALIA

  • 10.1. All Construction
    • 10.1.1. Outlook

11. TASMANIA

  • 11.1. All Construction
    • 11.1.1. Outlook

12. NORTHERN TERRITORY

  • 12.1. All Construction
    • 12.1.1. Outlook

13. AUSTRALIAN CAPITAL TERRITORY

  • 13.1. All Construction
    • 13.1.1. Outlook

14. KEY INDUSTRY PARTICIPANTS

  • 14.1. Contractors
  • 14.2. Consultants

15. APPENDIX

  • 15.1. What is this Report About?
  • 15.2. Definitions

16. ABOUT GLOBALDATA

  • 16.1. GlobalData at a Glance
  • 16.2. GlobalData Construction
  • 16.3. Disclaimer
  • 16.4. Contact Us

List of Tables

  • Table 1: Construction Outlook
  • Table 2: Australia, Key Economic Indicators
  • Table 3: Australia, Construction Output Value (nominal, AUD Million)
  • Table 4: Australia, Construction Output Value (nominal, US$ Million)
  • Table 5: Australia, Top Commercial Construction Projects by Value
  • Table 6: Australia, Top Industrial Construction Projects by Value
  • Table 7: Australia, Top Infrastructure Construction Projects by Value
  • Table 8: Australia, Top Energy and Utilities Construction Projects by Value
  • Table 9: Australia, Top Institutional Construction Projects by Value
  • Table 10: Australia, Top Residential and Mixed-Use Construction Projects by Value
  • Table 11: New South Wales, Construction Output Value (nominal, AUD Million)
  • Table 12: New South Wales, Construction Output Value (nominal, US$ Million)
  • Table 13: Victoria, Construction Output Value (nominal, AUD Million)
  • Table 14: Victoria, Construction Output Value (nominal, US$ Million)
  • Table 15: Queensland, Construction Output Value (nominal, AUD Million)
  • Table 16: Queensland, Construction Output Value (nominal, US$ Million)
  • Table 17: South Australia, Construction Output Value (nominal, AUD Million)
  • Table 18: South Australia, Construction Output Value (nominal, US$ Million)
  • Table 19: Western Australia, Construction Output Value (nominal, AUD Million)
  • Table 20: Western Australia, Construction Output Value (nominal, US$ Million)
  • Table 21: Tasmania, Construction Output Value (nominal, AUD Million)
  • Table 22: Tasmania, Construction Output Value (nominal, US$ Million)
  • Table 23: Northern Territory, Construction Output Value (nominal, AUD Million)
  • Table 24: Northern Territory, Construction Output Value (nominal, US$ Million)
  • Table 25: Australian Capital Territory, Construction Output Value (nominal, AUD Million)
  • Table 26: Australian Capital Territory, Construction Output Value (nominal, US$ Million)
  • Table 27: Australia, Key Contractors
  • Table 28: Australia, Key Consultants
  • Table 29: GlobalData Construction Market Definitions
  • Table 30: Construction Risk Index Ratings and Scores

List of Figures

  • Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
  • Figure 2: Australia, Construction Projects Pipeline by Sector (AUD Billion)
  • Figure 3: Australia, Dwelling Permits Approved (Units)
  • Figure 4: Australia, Residential Property Price Index
  • Figure 5: Australia, Risk Profile
  • Figure 6: Australia, Risk Comparison
  • Figure 7: Australia, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
  • Figure 8: Australia, Construction Output Value, Growth Matrix
  • Figure 9: Australia, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 10: Australia, Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 11: Australia, Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 12: Australia Commercial Construction Output by Project Type (AUD Million), 2014-2023
  • Figure 13: Australia, Commercial Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 14: Australia, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 15: Australia, Industrial Construction Output by Project Type (AUD Million), 2014-2023
  • Figure 16: Australia, Industrial Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 17: Australia, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 18: Australia, Infrastructure Construction Output by Project Type (AUD Million), 2014-2023
  • Figure 19: Australia, Infrastructure Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 20: Australia, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 21: Australia, Energy and Utilities Construction Output by Project Type (AUD Million), 2014-2023
  • Figure 22: Australia, Energy and Utilities Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 23: Australia, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 24: Australia, Institutional Construction Output by Project Type (AUD Million), 2014-2023
  • Figure 25: Australia, Institutional Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 26: Australia, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 27: Australia, Residential Construction Output by Project Type (AUD Million), 2014-2023
  • Figure 28: Australia, Residential Construction Projects Pipeline, Value by Stage (AUD Million)
  • Figure 29: Australia, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Million), 2018-2023
  • Figure 30: New South Wales, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 31: Victoria, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 32: Queensland, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 33: South Australia, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 34: Western Australia, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 35: Tasmania, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 36: Northern Territory, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 37: Australian Capital Territory, Construction Output Value, by Sector (AUD Million), 2014-2023
  • Figure 38: Australia, Headquarters of Key Contractors (% of Total Project Pipeline)
  • Figure 39: Australia, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
  • Figure 40: Australia, Headquarters of Key Consultants (% of Total Project Pipeline)
  • Figure 41: Australia, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
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