Painting and Decorating Services in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) August 25, 2013 -- The Painting and Decorating Services industry has enjoyed moderate growth over the past five years, remaining resilient despite faltering construction demand. Industry revenue is projected to grow at an annualised 1.5% over the five years through 2013-14 as the economic uncertainty stemming from the global financial crisis and credit constraints severely affected investment into the key housing and non-residential building markets. According to IBISWorld industry analyst Anthony Kelly, “economic stimulus packages have bolstered public capital expenditure and helped to offset the effects of poor private sector expenditure on new buildings.”
The industry's performance is projected to improve in 2013-14 as housing construction increases due to a revitalised private sector and attractive interest rate settings. Industry revenue is expected to grow by 4.0% to total $6.1 billion, lifting industry employment by about 1,700 jobs to 48,300 people. The number of enterprises contesting the industry has averaged flat growth over the five years through 2013-14 to total 19,950 businesses, operating from 20,450 locations. “The industry is characterised by low barriers to entry and its many small businesses, often one- or two-person operations,” says Kelly. Low market concentration makes it easy for businesses to enter and exit the market depending on available profit. Major players include Programmed Maintenance Services Limited and Spotless Group Limited.
Painting and Decorating Services industry revenue is forecast to grow over the next five years, driven by stronger private investment into new housing construction and the eventual upswing in commercial and industrial building activity. Consumer and business sentiment are forecast to rise and an increase in real household disposable income is expected to translate into greater household outsourcing. The industry will face increased competition from DIY homeowners and demand will be contained in the infrastructure and institutional building markets. Increased profitability is expected in the short term as revenue conditions improve for the many small-scale contractors servicing the housing and commercial building markets. However, the low barriers to the entry will allow new competitors into the industry, which will heighten competitive intensity and contain profit margins.
For more information, visit IBISWorld’s Painting and Decorating Services in Australia industry report page.
Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau .
IBISWorld industry Report Key Topics
Companies in this industry paint, decorate or wallpaper houses and other structures.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
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.
Gavin Smith, IBISWorld, +61 396553838, [email protected]
Share this article