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Report
Australia Construction Market Report and Forecast 2024-2032
Market Report I 2024-03-29 I 155 Pages I EMR Inc.
Australia Construction Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Australia construction market size reached a value of USD 308.17 billion in 2023. Aided by the surge in infrastructure projects and residential construction, the market is projected to further grow at a CAGR of 3.2% between 2024 and 2032 to reach a value of USD 412.97 billion by 2032.
The Australian construction sector encompasses a wide range of activities, from the building of residential properties to the development of large-scale infrastructure projects such as roads, bridges, and public facilities. It plays a critical role in the country's economic development, contributing significantly to employment, investment, and overall GDP.
Several factors contribute to the Australia construction market growth. Firstly, the government's commitment to enhancing the country's infrastructure through substantial investment in transport, utilities, and renewable energy projects is a key growth driver. These initiatives are aimed at supporting the growing population, improving the efficiency of national transport systems, and transitioning towards a more sustainable energy framework.
As per the Australia construction market analysis, the residential construction sector is witnessing a robust rebound, driven by low interest rates, government incentives for first-home buyers, and a growing demand for housing spurred by population growth and urbanisation. The shift towards remote work has also influenced residential construction trends, with an increasing preference for larger homes with dedicated office spaces in suburban and regional areas.
With the increasing impact of climate change, there is a growing emphasis on constructing buildings and infrastructure that are resilient to extreme weather conditions and natural disasters, which further contributes to the Australia construction market share. This includes the design and construction of flood-resistant structures, fire-resistant materials for bushfire-prone areas, and buildings capable of withstanding severe storms and heat waves. Prefabrication and modular construction also continue to gain traction as methods to reduce construction times and costs while improving quality. These approaches allow for components or entire buildings to be manufactured off-site in controlled environments, reducing waste and minimising on-site work. This trend is particularly beneficial in addressing labour shortages and ensuring timely project completion.
Sustainability has become a central focus within the construction market in Australia, driven by both regulatory requirements and market demand for greener buildings. The trend towards green building encompasses the use of sustainable materials, energy-efficient design, and construction practices that minimise environmental impact. Initiatives such as the Green Building Council of Australia's Green Star rating system encourage the adoption of sustainable construction methods, with an increasing number of projects striving for higher Green Star ratings.
As per the Australia construction market outlook, public-private partnerships are becoming more prevalent as a means to fund and deliver large infrastructure projects. PPPs enable the public sector to leverage the expertise, efficiency, and capital of the private sector, facilitating the development of critical infrastructure without the immediate fiscal burden on public finances. This model is particularly relevant in Australia for transport, health, and educational facilities.
The adoption of new technologies and construction methods is another pivotal trend propelling the Australia construction market expansion. Innovations such as Building Information Modelling (BIM), prefabrication, and modular construction are improving project efficiency, reducing waste, and enabling the delivery of projects on tighter schedules. These technologies also support the market's move towards sustainability, with an emphasis on energy-efficient buildings and the reduction of carbon footprints.
The Australian construction sector is also subject to ongoing regulatory reforms aimed at improving building quality, safety, and compliance. Recent changes, such as those prompted by inquiries into building defects and safety issues, are leading to stricter enforcement of standards and greater accountability across the construction process.
Market Segmentation
The market can be divided based on construction type and end use.
Market Breakup by Construction Type
- New Constructions
- Renovation
Market Breakup by End Use
- Commercial
- Residential
- Institutional
- Industrial
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Australia construction market. Some of the major players explored in the report by Expert Market Research are as follows:
- Laing O'Rourke Corp. Ltd.
- Brookfield Corporation (Multiplex Constructions Pty Limited)
- J Hutchinson Pty Ltd.
- CIMIC Group Ltd. (CPB Contractors)
- Lendlease Corporation Limited
- John Holland Group Pty Ltd.
- ADCO Constructions Pty Ltd.
- Fulton Hogan Ltd.
- Mirvac Limited
- Hansen Yuncken Pty Ltd.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Construction Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Construction Historical Market (2018-2023)
8.3 Asia Pacific Construction Market Forecast (2024-2032)
8.4 Asia Pacific Construction Market Breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Others
9 Australia Construction Market Overview
9.1 Key Industry Highlights
9.2 Australia Construction Historical Market (2018-2023)
9.3 Australia Construction Market Forecast (2024-2032)
10 Australia Construction Market by Construction Type
10.1 New Constructions
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Renovation
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Construction Market by End Use
11.1 Commercial
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Residential
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Institutional
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Industrial
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Laing O'Rourke Corp. Ltd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Brookfield Corporation (Multiplex Constructions Pty Limited)
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 J Hutchinson Pty Ltd.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 CIMIC Group Ltd. (CPB Contractors)
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Lendlease Corporation Limited
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 John Holland Group Pty Ltd.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 ADCO Constructions Pty Ltd.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Fulton Hogan Ltd.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Mirvac Limited
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Hansen Yuncken Pty Ltd.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Construction Market: Key Industry Highlights, 2018 and 2032
2. Australia Construction Market: Key Industry Highlights, 2018 and 2032
3. Australia Construction Historical Market: Breakup by Construction Type (USD Billion), 2018-2023
4. Australia Construction Market Forecast: Breakup by Construction Type (USD Billion), 2024-2032
5. Australia Construction Historical Market: Breakup by End Use (USD Billion), 2018-2023
6. Australia Construction Market Forecast: Breakup by End Use (USD Billion), 2024-2032
7. Australia Construction Market Structure
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