This article was originally distributed via PRWeb. PRWeb, WorldNow and this Site make no warranties or representations in connection therewith.
The industry has faced difficult conditions over the past five years, but demand for architectural services will strengthen over the next five years due to improved investment in building markets. For this reason, industry research firm IBISWorld has updated its report on the Architectural Services industry in Australia.
Melbourne, Australia (PRWEB) February 27, 2013
The Architectural Services industry is forecast to generate revenue of $6.3 billion in 2012-13, down by 1.6% on the previous year due to the winding back of educational building investment and weaker housing construction. Revenue is estimated to decline by an annualised 2.0% over the five years through 2012-13, corresponding with the cyclical decline in the value of total building construction (1.3%), and failing to match the pace of GDP growth (2.4% annualised). According to IBISWorld industry analyst Anthony Kelly, “the industry generated export earnings that outweighed import penetration”.
The key building markets for architectural services have displayed divergent trends since the mid-2000s. “Architects have faced subdued conditions in the new housing market with the value of construction remaining flat over the past five years”, says Kelly. The growth in the townhouse and apartment design market was offset by declining investment trends in the traditional single-unit housing market.
The Architectural Services industry has a fragmented structure with few large-scale national players and many small-scale firms that operate in narrow regional markets. The industry has a low concentration of ownership. The leading players in the industry are multi-branch operations and include GHD Group Pty Ltd, Hassell Ltd and AECOM Australia Holdings Pty Ltd.
Demand conditions will strengthen over the next five years due to improved investment in the commercial and housing building markets. For more information, visit IBISWorld’s Architectural Services report in Australia industry page.
Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau
IBISWorld industry Report Key Topics
This industry includes establishments that provide planning and design services on residential, institutional, commercial, and industrial buildings and structures. Industry activities may include the preparation of drawings and specifications, administering building contracts, inspecting completed projects, the design of building interiors, and landscape architectural activities.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/2/prweb10465171.htm