Construction in Australia – Key Trends and Opportunities by State and Territory to 2022

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Published: July 31, 2018 Report Code: GDCN0418MR-ST

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GlobalData's "Construction in Australia – Key Trends and Opportunities by State and Territory to 2022", report provides detailed market analysis, information and insights into the Australian construction industry.

Australia’s construction industry recovered in 2017, after registering a weak performance during 2013-2016. In real terms, the industry’s output grew by 10.4% in 2017, following an average annual contraction of 4.1% in the preceding four years.

Recovery in the country’s construction industry is expected to continue over the forecast period (2018-2022), in line with recovery in economic growth and commodity prices. Over the forecast period, the government’s efforts to enhance transport, energy and residential infrastructure are expected to support industry growth. The government plans to invest AUD75.0 billion (US$58.9 billion) by 2026-2027, in a bid to develop the country’s transport infrastructure.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 3.89% over the forecast period, compared to -1.77% during the review period.

The report provides –
– 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.

Key Highlights

– GlobalData expects the infrastructure construction market output to record a forecast-period CAGR of 6.80% in nominal terms, driven by public and private sector investments in the development and modernization of the country’s transport infrastructure. In the 2018 budget, the government allocated AUD24.5 billion (US$19.2 billion) in new funding to develop the country’s transport infrastructure in order to reduce traffic congestion, improve safety and create jobs.
– Residential construction was the largest market in the Australian construction industry during the review period, accounting for 33.9% of its total value in 2017. Over the forecast period, the market is expected to be supported by government efforts to balance housing demand and supply through the construction of housing units. Forecast-period growth will also be supported by ongoing urbanization, population growth and positive developments in regional economic conditions.
– GlobalData expects the energy and utilities construction market output to record a forecast-period CAGR of 7.83% in nominal terms, driven by investments in energy and utilities construction projects. The government is investing in improving electricity generation capacity to meet rising demand. The government aims to generate 33,000GWh of electricity from renewable sources by 2020.
– In the 2018 budget, the government announced a Roads of Strategic Importance (RoSI) initiative to upgrade the country’s key freight corridors over the next ten years. Accordingly, the government allocated AUD3.5 billion (US$2.7 billion) under the RoSI initiative to upgrade key freight routes that connect mining resource regions and primary agricultural areas to airports, ports and other transport hubs over the next ten years.
– The total construction project pipeline in Australia, as tracked by the Construction Intelligence Center (CIC) and 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 well balanced, with 50.4% of the pipeline value being in projects in the pre-execution and execution stages as of July 2018.

Scope

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

– Historical (2013-2017) and forecast (2018-2022) 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

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

15.3 About GlobalData

15.4 About The Construction Intelligence Center

15.5 Disclaimer

Table

List of Tables

Table 1: Australia, Key Economic Indicators

Table 2: Australia, Construction Output Value (nominal, AUD Million)

Table 3: Australia, Construction Output Value (nominal, US$ Million)

Table 4: Australia, Top Commercial Construction Projects by Value

Table 5: Australia, Top Industrial Construction Projects by Value

Table 6: Australia, Top Infrastructure Construction Projects by Value

Table 7: Australia, Top Energy and Utilities Construction Projects by Value

Table 8: Australia, Top Institutional Construction Projects by Value

Table 9: Australia, Top Residential and Mixed-Use Construction Projects by Value

Table 10: New South Wales, Construction Output Value (nominal, AUD Million)

Table 11: New South Wales, Construction Output Value (nominal, US$ Million)

Table 12: Victoria, Construction Output Value (nominal, AUD Million)

Table 13: Victoria, Construction Output Value (nominal, US$ Million)

Table 14: Queensland, Construction Output Value (nominal, AUD Million)

Table 15: Queensland, Construction Output Value (nominal, US$ Million)

Table 16: South Australia, Construction Output Value (nominal, AUD Million)

Table 17: South Australia, Construction Output Value (nominal, US$ Million)

Table 18: Western Australia, Construction Output Value (nominal, AUD Million)

Table 19: Western Australia, Construction Output Value (nominal, US$ Million)

Table 20: Tasmania, Construction Output Value (nominal, AUD Million)

Table 21: Tasmania, Construction Output Value (nominal, US$ Million)

Table 22: Northern Territory, Construction Output Value (nominal, AUD Million)

Table 23: Northern Territory, Construction Output Value (nominal, US$ Million)

Table 24: Australian Capital Territory, Construction Output Value (nominal, AUD Million)

Table 25: Australian Capital Territory, Construction Output Value (nominal, US$ Million)

Table 26: Australia, Key Contractors

Table 27: Australia, Key Consultants

Table 28: GlobalData Construction Market Definitions

Table 29: Construction Risk Index Ratings and Scores

Figures

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, Total Number of Dwelling Units Approved (Units)

Figure 4: Australia, Residential Property Prices Index

Figure 5: Australia, Housing Finance (AUD Million)

Figure 6: Australia, Risk Comparison, Q2 2018

Figure 7: Australia, Risk Comparison Review

Figure 8: Australia, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)

Figure 9: Australia, Construction Output Value, Growth Matrix

Figure 10: Australia, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 11: Australia, Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion), 2017-2022

Figure 12: Australia, Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 13: Australia, Commercial Construction Output by Project Type (AUD Million), 2013-2022

Figure 14: Australia, Commercial Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 15: Australia, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion)

Figure 16: Australia, Industrial Construction Output by Project Type (AUD Million), 2013-2022

Figure 17: Australia, Industrial Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 18: Australia, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion)

Figure 19: Australia, Infrastructure Construction Output by Project Type (AUD Million), 2013-2022

Figure 20: Australia, Infrastructure Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 21: Australia, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion)

Figure 22: Australia, Energy and Utilities Construction Output by Project Type (AUD Million), 2013-2022

Figure 23: Australia, Energy and Utilities Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 24: Australia, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion)

Figure 25: Australia, Institutional Construction Output by Project Type (AUD Million), 2013-2022

Figure 26: Australia, Institutional Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 27: Australia, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion)

Figure 28: Australia, Residential Construction Output by Project Type (AUD Million), 2013-2022

Figure 29: Australia, Residential Construction Projects Pipeline, Value by Stage (AUD Billion)

Figure 30: Australia, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (AUD Billion)

Figure 31: New South Wales, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 32: Victoria, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 33: Queensland, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 34: South Australia, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 35: Western Australia, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 36: Tasmania, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 37: Northern Territory, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 38: Australian Capital Territory, Construction Output Value, by Sector (AUD Million), 2013-2022

Figure 39: Australia, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 40: Australia, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)

Figure 41: Australia, Headquarters of Key Consultants (% of Total Project Pipeline)

Figure 42: Australia, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

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