Friday 28 October 2011

The Future of the Construction Equipment Market in Australia to 2015

Over the 2005–09 review period, the turnover of the Australian construction equipment market shrank by -0.32%, largely due to in the global economic crisis that took place during 2008–09. However, the market is expected to improve throughout the forecast period as a result of better economic conditions and the expected recovery of the Australian construction industry.

LondonOctober 28, 2011 – The Australian construction equipment industry consists of hundreds of firms, ranging from small businesses to some of the world’s largest multinational corporations, including Caterpillar Australia Pty Ltd., Komatsu Australia Pty Ltd., CNH Australia Pty Ltd., Chamberlain Holdings Ltd., and AGCO Australia Ltd. Furthermore, over 150 companies deal with imports and exports of construction equipment in the country.

Supported by a boom in construction activity across the country, the construction equipment market enjoyed strong revenue growth during 2005–07. A high level of investment in the industrial sector drove the growth of the equipment and machinery markets, while a sharp rise in income, employment and company earnings encouraged the growth of the commercial, office and industrial construction markets. However, market conditions weakened following the financial crisis due to a dramatic decline in the non-residential construction market.

The material handling equipment category was the industry’s largest category in 2009, and is forecast to register substantial growth over the 2010–15 forecast period. The earth-moving equipment category was the second largest, followed by tunneling and drilling equipment, concrete equipment, road construction equipment and construction vehicles.

Australia’s Construction Industry
The Australian construction industry consists of 320,000 enterprises, which employed nearly 10% of the national workforce at the end of 2008. However, Australia is currently experiencing a shortage of skilled workers, which has led to further delays in Australian construction projects.

The global financial crisis slowed the expansion of the Australian construction industry in 2009, largely due to shortages of labor and capital, and high construction costs. This has led to the postponement or cancellation of tenders and, in some cases, canceled planned project developments. However, despite the global financial slowdown, Australia has avoided recession and one of the major factors behind this was the resilience of the labor market.

Government Economic Stimulus Packages to Drive Australian Construction
In February 2009, the Australian government announced an economic stimulus package, of which a substantial amount was allocated to infrastructure construction, with the majority invested in social projects, including schools and public housing.

In 2009, the Australian government began to encourage the nationwide construction of greener homes and offices, and created the Green Building Fund to reduce the amount of energy consumed by existing commercial buildings. Substantial financial aid was also allocated to research institutions that study ways to reduce carbon emissions, and also for the renovation of existing buildings and infrastructure improvement.

Australia’s Construction Equipment Industry Set to Recover
There are more than 400 construction projects worth US$284.7 billion announced or scheduled for completion in the next five years. As a result, the construction equipment industry’s turnover is set to grow by nearly 10% over the forecast period. During this time, the consumption, export and import of construction equipment are also expected to improve.

To purchase the full version of the “The Future of the Construction Equipment Market in Australia to 2015” report, please click here.

LinkAbout Industry Review:

Industry Review is a collection of incisive, regularly updated market reports across 40+ industry sectors and 100+ countries.

We provide access to the latest data on global and local markets, key industries, top companies, M&A activity, new product launches and trends so you can make faster and better informed business decisions.

The reports in our store draw on robust primary and secondary research, proprietary databases, industry surveys and insightful analysis from our own expert teams and from carefully selected third-party publishers.

With access to over 400 in-house analysts and journalists, and a global media presence in over 30 industries, Industry Review delivers in-depth knowledge of local markets worldwide.

For more information, please visit our website at www.industryreview.com

For more information on the article, please contact:

Shelly Wills
Tel: +44 (0) 20 7936 6671
shelly.wills@industryreview.com

5 comments:

  1. You are shared good information on market strategy of Australian construction equipment!
    Construction Equipment Australia

    ReplyDelete
  2. Wow interesting and very fantastic blog. Get Excavators from plantlocator.co.uk they are providing Excavators for sale in UK.

    ReplyDelete
  3. It is too early to predict the market results of 2015, they information above can be correct but you don't really know what will happen tomorrow.

    ReplyDelete
  4. This is very inforamativeblog of construction equipment industry.used construction equipment

    ReplyDelete