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Construction in Australia - States and Key Trends and Opportunities to 2025

  • ID: 5264227
  • Report
  • January 2021
  • Region: Australia
  • 79 pages
  • GlobalData
1h Free Analyst Time

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Summary

The Australian construction industry is expected to rebound in 2021 and grow by 2.6% in real terms, having contracted by 6.6% in 2019, with an estimated fall of 4% in 2020. The 2020 decline was due to the impact of the Coronavirus (COVID-19) pandemic on consumer and investor confidence, coupled with plummeting oil prices and continued weakness in the residential sector. Although the construction industry was designated as an essential service, and was exempted from the lockdown restrictions, construction work was affected due to limitations on the labor availability on worksites, social distancing restrictions and supply chain disruptions. As a result, the total value of construction work completed in the country declined by 2.8% year on year (YoY) in the first three quarters of 2020, according to the Australian Bureau of Statistics (ABS). This is attributed to a fall in building construction activities, which was slightly offset by a marginal increase in civil engineering works.

Growth in 2021 will be driven by the Australian government’s focus on an infrastructure-led economic revival, through new and accelerated infrastructure spending. In mid-June 2020, the government announced that 15 infrastructure projects worth AUD72 billion (US$49.1 billion) will be fast-tracked, thereby supporting over 60,000 direct and indirect jobs. Moreover, the federal, state and territory governments have reached an agreement to cut approval time for infrastructure projects by half. In the fiscal year (FY) 2020/2021 (July to June) budget, announced in early October 2020, the government announced plans to invest AUD7.5 billion (US$5.4 billion) on transport infrastructure projects across the country; bringing the federal government’s total commitment to infrastructure projects since the onset of the pandemic to AUD14 billion (US$9.5 billion) over the next four years.

Over the remaining years of the forecast period, the industry is expected to gain further momentum and register annual average growth of 3.4% between 2022-2025, supported by the government’s investments on road and rail infrastructure projects, the First Home Loan Deposit Scheme, the HomeBuilder program and the upgrade to the National Broadband Network. Most state governments have released their long-delayed budgets for FY2020/2021, with significant funding towards transport, residential, health and educational infrastructure projects. Over the long term, the industry’s growth will be supported by an investment of AUD110 billion (US$74.7 billion) on transport infrastructure project over the next ten years through the rolling infrastructure plan, starting from FY2020/2021.

This 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.
Scope

This report provides a comprehensive analysis of the construction industry in Australia and states. It provides -
  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Australia and states, 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 the publisher'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 the publisher's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Note: Product cover images may vary from those shown
1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status

4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction

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 Australia Construction Market Data

7 Key Industry Participants
7.1 Contractors
7.2 Consultants

8 Appendix
8.1 What is this Report About?
8.2 Definitions
8.3 Construction

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), 2016-2025
Table 4: Australia, Top Commercial Construction Projects by Value
Table 5: Australia, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Australia, Top Industrial Construction Projects by Value
Table 7: Australia, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: Australia, Top Infrastructure Construction Projects by Value
Table 9: Australia, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: Australia, Top Energy and Utilities Construction Projects by Value
Table 11: Australia, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: Australia, Top Institutional Construction Projects by Value
Table 13: Australia, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: Australia, Top Residential Construction Projects by Value
Table 15: Australia, Construction Output Value (Real, US$ Million)
Table 16: Australia, Construction Output Value (Nominal, AUD Million)
Table 17: New South Wales, Construction Output Value (Real, US$ Million)
Table 18: New South Wales, Construction Output Value (Nominal, AUD Million)
Table 19: Victoria, Construction Output Value (Real, US$ Million)
Table 20: Victoria, Construction Output Value (Nominal, AUD Million)
Table 21: Queensland, Construction Output Value (Real, US$ Million)
Table 22: Queensland, Construction Output Value (Nominal, AUD Million)
Table 23: South Australia, Construction Output Value (Real, US$ Million)
Table 24: South Australia, Construction Output Value (Nominal, AUD Million)
Table 25: Western Australia, Construction Output Value (Real, US$ Million)
Table 26: Western Australia, Construction Output Value (Nominal, AUD Million)
Table 27: Tasmania, Construction Output Value (Real, US$ Million)
Table 28: Tasmania, Construction Output Value (Nominal, AUD Million)
Table 29: Northern Territory, Construction Output Value (Real, US$ Million)
Table 30: Northern Territory, Construction Output Value (Nominal, AUD Million)
Table 31: Australian Capital Territory, Construction Output Value (Real, US$ Million)
Table 32: Australian Capital Territory, Construction Output Value (Nominal, AUD Million)
Table 33: Australia, Key Contractors
Table 34: Australia, Key Consultants
Table 35: Construction Market Definitions

List of Figures
Figure 1: Asia-Pacific, Construction Output (Real % Change), 2020 and 2021
Figure 2: Australia, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Australia, COVID-19 Confirmed Cases
Figure 4: Australia, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 5: Australia, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: Australia, Total Value of Construction Work Done
Figure 7: Australia, Total Value of Building Construction Works Done
Figure 8: Australia, Private Gross Fixed Capital Formation (Seasonally-Adjusted Chain Volume Measures, % Change YoY)
Figure 9: Australia, Total Value of Buildings Approved (Seasonally Adjusted Terms, % Change YoY)
Figure 10: Australia, Construction Projects Momentum Index
Figure 11: Australia, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 12: Australia, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 13: Australia, Value of Commercial Buildings Approved, % Change YoY
Figure 14: Australia, Short-Term Visitor Arrivals (in Thousands)
Figure 15: Australia, Tourism Sector Jobs, in Thousands
Figure 16: Australia, Retail Trade Turnover (in AUD Billion), Seasonally Adjusted
Figure 17: Australia, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 18: Australia, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 19: Australia, Total Value of Buildings Approved for Factories and Other Secondary Production Buildings, in AUD Million, % Change YoY
Figure 20: Australia, Total Value of Mineral Exploration (in AUD Million)
Figure 21: Australia, Performance of Manufacturing Index (PMI), Seasonally Adjusted
Figure 22: Australia, Total Exports (in AUD Billion)
Figure 23: Australia, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 24: Australia, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Australia, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: Australia, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Australia, Total Value of Petroleum Exploration (in AUD Million)
Figure 28: Australia, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 29: Australia, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 30: Australia, Value of Buildings Approved for Education, Health and Religious Purpose, % Change YoY
Figure 31: Australia, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 32: Australia, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 33: Australia, Total Value of Residential Building Construction Work Completed
Figure 34: Australia, Total Number of Dwelling Units Approved
Figure 35: Australia, Weighted Average Residential Property Price Index of Eight Capital Cities
Figure 36: Australia, Number and Value of Owner Occupier First Home Buyer Loan Commitments (Seasonally Adjusted, % Change YoY)
Figure 37: Australia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 38: Australia, Headquarters of Key Consultants (% of Total Project Pipeline)
Note: Product cover images may vary from those shown
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