Painting and Decorating Services in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) September 07, 2014 -- The bulk of Painting and Decorating Services in Australia are provided for work on the interior and exterior of residential buildings. However, an important source of income is also generated from the non-residential construction market and from increasing long-term maintenance work on building and infrastructure assets. The industry has encountered divergent trends across the key building markets since the late 2000s and revenue is projected to grow at an annualised 0.5% over the five years through 2014-15. The economic uncertainty in the aftermath of the global financial crisis adversely affected investment into the key housing and non-residential building markets. However, according to IBISWorld industry analyst Anthony Kelly, “economic stimulus packages bolstered public capital expenditure and helped to offset the effects of poor private sector expenditure on new buildings.” The unprecedented mining boom, along with robust investment into engineering infrastructure over the past five years, has supported work in the application of industrial coating products and in maintenance activities.
During 2014-15, industry revenue is projected to improve by 2.1%, to total $6.2 billion, as housing construction increases due to a revitalised private sector and attractive interest rates. The number of industry enterprises is projected to climb marginally to 18,000 businesses in 2014-15 (across 18,450 locations). However, this also represents the exit of over 2,000 enterprises since the mid-2000s. “Stronger private investment into new housing construction and the upward trend in commercial and industrial building activity are expected to drive revenue growth over the next five years,” says Kelly. Consumer and business sentiment are also projected to rise, while 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 constrained 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.
The Painting and Decorating Services industry exhibits a low level of ownership concentration. The major players are Programmed Maintenance Services Limited and Spotless Group Holdings Limited. The industry has a highly fragmented structure and is characterised by its many small-scale businesses contesting narrow geographic markets. Low barriers to entry have also allowed new businesses to enter the market when profit increases and later leave when it decreases.
For more information, visit IBISWorld’s Painting and Decorating Services industry in Australia report page.
Companies in this industry paint, decorate or wallpaper houses and other structures.
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IBISWorld industry Report Key Topics
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, http://www.ibisworld.com, +61 396553838, [email protected]
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