DUBLIN–(BUSINESS WIRE)–The report “Australia Construction Industry Data Handbook Series – Market size and forecast by value and volume (area and units) on over 40 market segments in residential, commercial, industrial construction , Institutional and Infrastructure, Q1 2022 Update” has been added to from ResearchAndMarkets.com offer.
According to the World Construction Survey for the fourth quarter of 2021, the construction industry in Australia is expected to grow by 10.6% to reach AUD 163,797 million in 2022.
Despite short-term challenges in some construction sectors, Australia’s mid- to long-term growth story remains intact. The construction industry in Australia is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, registering a CAGR of 6.1% during the period 2022-2026. Construction output in the country is expected to reach AUD 207,720.0 million by 2026.
Construction activity in Victoria leads industry through lockdowns in Australia
In Victoria, over AUD 15 billion of construction was completed from July to September 2021. Growing construction activity in Victoria has supported industry in Australia while ignoring the impact of Melbourne’s lockdown.
During the third quarter of 2021, Victoria recorded growth of 5.8% in the construction sector against a sharp decline recorded in NSW and ACT. According to the Australian Bureau of Statistics, NSW recorded an 8% drop to AUD 14.9 billion, while ACT production fell 15.5% to AUD 778 million due to pandemic-induced lockdown restrictions. world.
Growth in construction activity in Victoria was largely driven by the infrastructure sector, which saw growth of 12% to over AUD 5 billion in the September quarter. With lockdown restrictions easing in Melbourne and infrastructure construction activity ramping up, the publisher expects the state to see further growth in the construction sector over the next four to eight months. next quarters.
Notably, Victoria, along with NSW, has a very strong portfolio of infrastructure projects. In October 2021, the Government of Victoria awarded an A$11.1 billion contract for the North East Link project, which will link the M80 ring road to an improved Eastern Motorway. This infrastructure construction project will then continue to support the growth of the entire industry over the next four to eight quarters.
Apart from the infrastructure sector, construction activities in the residential sector, including renovations and conversions, are also expected to provide support for the growth of the industry in the short to medium term in Australia.
Global construction companies bring innovation to the Australian construction market
With over A$200 billion worth of transport projects underway, global construction companies are bringing innovation to the Australian market to meet the country’s growing infrastructure needs. For example:
In October 2021, South Korean construction company GS Engineering and Construction (GS E&C) announced that the company had strategically decided to enter the construction market in Australia. The company entered the market thanks to the huge pipeline of mega-infrastructure projects coming online.
In February 2021, Infrastructure Australia (IA) added 44 new infrastructure projects to its infrastructure priority list. With several projects in the pipeline, the publisher expects more global companies to operate in Australia, either through strategic partnership with local construction companies or independently, over the next four to four years. next eight quarters. This will subsequently stimulate the growth of the entire construction industry in Australia.
Investment growth in South Australia expected to further boost growth in Australia’s construction industry
A number of infrastructure projects have been planned and are in the pipeline for South Australia. The Department of Infrastructure and Transport (DIT) is working to bring these projects to start-ready status as soon as possible. Consequently, investment in the construction sector is expected to grow over the next four to eight quarters.
For example, over the next four years, investments are expected to reach almost AUD 18 billion, of which approximately AUD 9 billion should be devoted to road and transport infrastructure.
The upgrade of the North-South Corridor is one of the major infrastructure projects expected to start in early 2022. This will continue to support the growth of the construction industry in Australia over the coming quarters. Some of the other notable projects include the new Women and Children’s Hospital (AUD 1.95 billion), Riverbank Arena (AUD 662 million) and Hahndorf Township Improvement Access Upgrade (AUD 250 million). Therefore, the publisher expects the construction industry to experience robust growth in the short to medium term in Australia.
Report cover
This report provides data and trend analysis on the construction industry in Australia, with over 100 KPIs. It is a data-centric report and it provides trending analysis with over 140 graphs and over 110 tables. It details market size and forecasts, emerging trends, market opportunities and investment risks in over 40 segments across the residential, commercial, industrial, institutional and infrastructure construction sectors.
It provides a comprehensive understanding of construction industry sectors in terms of value and volume (both by activity and by units). The report focuses on combining industry dynamics with the macroeconomic scenario and changing consumer behavior to provide a 360 degree view of opportunities and risks.
Scope
This report provides market size and forecasts for over 40 construction segments for a 10-year period from 2016 to 2025 in Australia. KPIs covered include the following:
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Market size in value
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Market size in construction volume
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Number of units
Australia Residential Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:
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Type of housing (multi-family, single-family)
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Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
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Price level / income level (luxury, mid-range, affordable)
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Construction phase (new construction, redevelopment and maintenance)
Australia Green Residential Building Construction Coverage: 10-Year Market Size and Forecast Value and Volume (Area and Units) by:
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Green building by housing type (multi-family, single-family)
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Green building by key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)
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Green building by price level / income level (luxury, mid-range, affordable)
Australia Commercial Building Construction Coverage: 10 Year Market Size and Forecast Value & Volume (Area & Units) by:
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Office (broken down into grade A, grade B and grade C)
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Retail trade (broken down by category A, category B and category C)
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Hospitality (broken down into categories A, B and C)
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Restaurant (further broken down by Category A, Category B and Category C)
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Entertainment
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sports facility
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Construction phase (new construction, redevelopment and maintenance)
Australia Commercial Green Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:
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Construction of green office buildings
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Construction of green buildings for retail
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Construction of ecological buildings for the hotel industry
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Construction of green buildings for restaurants
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Construction of entertainment green buildings
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Construction of green buildings for sports facilities
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Other commercial green building construction
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Australia industrial green building construction coverage: 10 year market size and forecast by value and volume (area and units)
Australia Institutional Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:
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Health care building
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Pedagogical construction
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Public sector
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Construction phase (new construction, redevelopment and maintenance)
Australia Institutional Green Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:
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Construction of green buildings for health care
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Construction of educational green buildings
Australia Infrastructure Construction Sectors: 10-Year Market Size and Value Forecast by:
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Maritime and river infrastructure
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Construction of utility systems (oil and gas infrastructure, communication infrastructure, electrical infrastructure, water and sewer infrastructure)
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Transport infrastructure (construction of highways, streets and bridges, construction of railways, construction of airports and construction of tunnels)
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Construction phase (new construction, redevelopment and maintenance)
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Green infrastructure construction in Australia: 10-year market size and value forecast
Reasons to buy
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In-depth understanding of construction market dynamics: Understand the market opportunities, industry dynamics, key trends, and drivers of over 40 market segments and sub-segments of the building construction industry and infrastructure in Australia.
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Volume and Value Data: Get a detailed understanding of the market from both a value and volume perspective (both by activity and by units) for the historical and forecast period.
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Develop market-specific strategies: identify growth segments and target specific opportunities to formulate your strategy; assess key market-specific trends, drivers and risks in the construction industry.
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City-level insights: Get city-level trend analysis by Tier 1, Tier 2, and Tier 3 cities.
For more information about this report visit https://www.researchandmarkets.com/r/erfbiu
