Construction in Australia - Key Trends and Opportunities by State and Territory to 2020
Description-
Synopsis
Construction
activity in Australia was weak in 2015, mainly reflecting the
downturn in the mining sector. The countrys construction industry
contracted by 4.0% in real terms that year and output value measured
at constant 2010 US dollar exchange rates fell from US$190.6 billion
in 2014 to US$182.9 billion in 2015.
Over
the forecast period (20162020), the industry is expected to remain
sluggish, owing to weakness in the industrial sector (which includes
mining-related construction works). However, there will be a pick up
in infrastructure investment, which will contribute to positive
annual growth towards the end of the forecast period.
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In
real terms, the industry is expected to register a compound annual
growth rate (CAGR) of -1.55% over the forecast period, down from
2.65% during the review period (20112015). The industrys output value
in real terms is expected to decline from US$182.9 billion in 2015 to
US$169.2 billion in 2020, measured at constant 2010 US dollar
exchange rates.
Despite
a slowdown in the mining sector and the cancellation of various oil
and gas projects, the infrastructure, commercial and institutional
construction markets are expected to support the industrys output
over the forecast period. This is a result of a rise in government
spending on the education and healthcare sectors, and retail sales
growth. In addition, various infrastructure development programs such
as the Investment Road and Rail Program, the Black Spot Program, the
Roads to Recovery Program and the National Highway Upgrade Program
will support the Australian construction industry.
Summary
Timetrics
Construction in Australia Key Trends and Opportunities by State and
Territory to 2020 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
Analysis
of equipment, material and service costs for each project type in
Australia
Critical
insight into the impact of industry trends and issues, and the risks
and opportunities they present to participants in the Australian
construction industry
Profiles
of the leading operators in the Australian construction industry
Data
highlights of the largest construction projects in Australia
Scope
This
report provides a comprehensive analysis of the construction industry
in Australia It provides:
Historical
(2011-2015) and forecast (2016-2020) valuations of the construction
industry in Australia using construction output and value-add methods
Segmentation
by sector (commercial, industrial, infrastructure, energy and
utilities, institutional and residential) and by project type
Breakdown
of values within each project type, by type of activity (new
construction, repair and maintenance, refurbishment and demolition)
and by type of cost (materials, equipment and services)
Analysis
of key construction industry issues, including regulation, cost
management, funding and pricing
Detailed
profiles of the leading construction companies in Australia
Reasons
To Buy
Identify
and evaluate market opportunities using Timetric'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 Timetric's critical and actionable
insight.
Assess
business risks, including cost, regulatory and competitive pressures.
Evaluate
competitive risk and success factors.
Key
Highlights
According
to the latest Australian Bureau of Statistics (ABS) data on new
building, there has been clear evidence of an expansion in
residential and non-residential construction. The total number of
dwelling units approved by the government in the country grew by
13.8% from 208,230 units in 2014 to 236,904 units in 2015. Of the
total dwelling units, 233,207 units were taken by the private sector,
while 3,697 units were taken by the public sector.
The
governments plan to provide affordable houses across the country to
the low- and middle-income groups is expected to drive growth in the
residential construction market over the forecast period. In January
2016, the New South Wales Government announced the 10-year reform
program, through which it plans to build 23,000 new social houses
through the public-private partnership (PPP) model by 2026.
The
Australian government aims to develop the rail network across the
country to improve mobility of goods and citizens and support
economic growth. In 2014, the government launched the Inland Rail
Project with an investment of AUD10.7 billion (US$8.1 billion). The
government plans to build 1,711km of railway track between Melbourne
and Brisbane by 2025.
The
Department of Transport, Planning and Local Infrastructure (DTPLI)
and Public Transport Victoria are focusing on improving the transport
network in Victoria to reduce road traffic congestion and support
economic growth. With an investment of AUD1.3 billion (US$979.8
million), the Victorian government is upgrading the CityLink
Tullamarine corridor from the West Gate Freeway to Melbourne Airport
under the CityLink Tulla Widening project.
The
industrial construction market is expected to be impacted by the
declining mining industry. The mining industrys production has fallen
due to rapid drop in prices of commodities such as coal, uranium and
gas, which has stemmed in part from weak commodity demand from China
and emerging countries. The deployment of renewable energy worldwide
has also impacted the countrys mining industry.
Table
of Contents
1
Executive Summary
2
Industry Outlook
2.1
Commercial Construction
2.2
Industrial Construction
2.3
Infrastructure Construction
2.4
Energy and Utilities Construction
2.5
Institutional Construction
2.6
Residential Construction
3
Key Issues and Developments
4
Australias Market Data Analysis
4.1
Australias Construction Output and Value Add
4.1.1
Australias construction output by state and territory
4.1.2
Australias construction output by project type
4.1.3
Australias construction output by cost type
4.1.4
Australias construction output by activity type
4.1.5
Australias construction value add by state and territory type
4.1.6
Australias construction value add by project type
4.2
Australias Commercial Construction
4.2.1
Australias commercial construction output by project type
4.2.2
Australias commercial construction output by cost type
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