After years of under-investment, there are now huge infrastructure upgrades in roads, rail, and other infrastructure underway, and more in the pipeline over the coming years for Australia. Market expansion over the forecast period will be driven by recovery in investment in infrastructure construction activity and improvements in the regional economy. The government’s plan to develop the country’s transport network is expected to provide positive prospects for the market over the forecast period.
The Infrastructure Intelligence Center (IIC), is currently tracking 507 large-scale infrastructure construction projects in Australia, at all stages of development from announcement to execution. These projects have a total investment value of AUD643.2 billion (US$493.2 billion). The total value of the infrastructure construction market reached AUD55.0 billion (US$42.0 billion) in 2017, according to the IIC, significantly down from AUD63.4 billion (US$48.6 billion) in 2012. However, output is projected to grow to AUD76.91 billion (US$59.0 billion) by 2022 (in nominal value terms).