Australia Construction Market is Expected to Grow at a CAGR of 3.2%; Fuelled by the Growing Government Focus on Improving the Overall Infrastructure.

Australia Construction Market Outlook

The Australia construction market size is projected to grow at a CAGR of 3.2% between 2024 and 2032.

Key Takeaways:

• Australia's construction industry contributes approximately $162 billion to the economy each year, accounting for roughly 10% of the GDP.

• In January 2024, new residential construction values in Australia soared by 19.4%, reaching a total of $7.14 billion.

• According to the Australian Bureau of Statistics, non-residential building values in January 2024 reached $4.92 billion.

Medical and healthcare sectors contribute to the Australia construction market growth by growing constructing of healthcare facilities in diverse areas, enhancing healthcare accessibility, particularly in underserved or remote regions.

Establishing medical facilities broadens healthcare accessibility, particularly in remote regions, improving health outcomes. Modern designs prioritize patient comfort, while purpose-built spaces streamline operations, decreasing wait times. Advanced medical technology integration enhances diagnostics and treatment, meeting evolving healthcare needs.

BESIX Watpac launched the construction of Eastwood Private Hospital, aiming to transform healthcare with a $90 million investment. The six-story facility boasted advanced amenities to enhance healthcare options and reduce surgical wait times, with BESIX Watpac leading the project.

Construction ventures in education and research deliver cutting-edge facilities, enriching learning environments and promoting research excellence. Proximity fosters collaboration, while initiatives for workforce development prepare students for professions. Community involvement and economic growth ensue, accompanied by enhancements in infrastructure, nurturing robust academic environments and regional prosperity.

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Market Segmentation

Australia Construction Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Construction Type

• New Constructions

• Renovation

Market Breakup by End Use

• Commercial

• Residential

• Institutional

• Industrial

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia construction market key players are 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, and Hansen Yuncken Pty Ltd., among others.

Key Highlights of the Report

Key Questions Answered in the Report:

1.    What is the growth rate of the Australia construction market?
The market is projected to grow at a CAGR of 3.2% between 2024 and 2032.

2.    What is the breakup of the market based on the property?
The construction market is categorised according to property, which includes Commercial, residential, institutional, and industrial.

3.    What is the breakup of the market according to the type?
The market is divided into types, which include new constructions and renovation.

4.    Who are the key players in the Australia construction industry, according to the report?
The Australia construction market key players are 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, and Hansen Yuncken Pty Ltd., among others.

5.    What is the market breakup by region?
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.

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