Construction Industry in Australia
The construction industry in Australia is among the largest non-service industries in the country. This industry alone contributes around 9 per cent of Australia’s Gross Domestic Product. Generating about $360 billion in 2019, productivity in the industry is far from stagnant; every year, the construction sector grows by an average of 2.4 per cent. Steady growth is attributed to the increased construction activities in Australia and is expected to continue like this for at least the next five years.
Construction activities and revenue generated play a crucial role in the Australian economy. It’s not only a large GDP producer, but it also employs over 1.1 million Australians, both directly and indirectly – this fills a large gap in the labour market and gives millions a dependable livelihood. Also, the construction industry relies on many Australian suppliers to provide the necessary building materials, equipment, and tools, which contributes to the growth of local businesses.
Main Sub-Sectors of the Construction Industry
The construction business encompasses a wide variety of services and specialities, including building construction, renovation, maintenance and repair, demolition, site preparation, décor, surveying, and structural design. All these services are categorised into six main sub-sectors, which are:
- Building structure services
- Heavy and civil engineering
- Installation services
- Land development
- Residential and non-residential construction
- Site preparation
The construction industry is incredibly vast and diverse; this presents many lucrative and meaningful opportunities to entrepreneurs and contractors looking to serve the market. However, like any industry with so many sub-sectors, licencing and permits are highly specialised affairs. A single construction company may need an array of licences and permits to deliver the full range of its services.
Top 5 Construction Companies in Australia
Australia is home to well over 70,000 registered building and construction companies. Although the majority of these companies are local businesses, there are also some international players. We’ll only look at some of the most reputable and successful construction companies operating in Australia today. In no particular order, here are five of the biggest construction companies in Australia.
ADCO Constructions is one of the oldest construction companies in the country. Since its humble beginnings in 1972, this family-owned business has made remarkable leaps in the construction industry. Over the last nearly 50 years, the company has completed over 3,500 projects valued at a total of $14 billion, and their annual revenue is fast approaching the $1 billion mark.
ADCO Constructions employs more than 500 people and is listed among the top 100 private companies in Australia. The company does not discriminate between government, commercial, or private projects – they work directly on retail, business, federal construction projects, and also in conjunction with other construction companies.
Fulton Hogan Pty Ltd is an international company with headquarters in New Zealand but also operating in Australia and the South Pacific. The company is a family-owned business started in 1933, that besides construction, is also involved in mining, energy, communication, infrastructure development, and transport, among other ventures.
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