Australia's booming construction sector, backed by the strong development potential of the mining and oil and gas sectors, has stabilised the country's temporary housing structure (THS) market. The growth in the industrial sector, due to the country's favourable geographic location and an encouraging investment environment, has given a shot in the arm to the THS market.
New analysis from Frost & Sullivan (buildingtechnologies.frost.com), Temporary Housing Structures in Australia, finds that the market earned revenues of US$131.8 million in 2010 and estimates this to reach US$208.1 million in 2017.
Australians' demand for higher standards of living also bodes well for the market, as rising costs of raw materials have challenged market participants to be cost competitive and yet, profitable. THS companies are emphasising the quality, durability, sustainability and energy efficiency of their products to stave off price wars.
"Larger companies will prefer high-quality THS products, which will ensure a comfortable standard of living," says Frost & Sullivan Associate Janice Wung. "Participants can also focus on the refurbishment of old THS, as it translates into shorter lead time and lower costs."
The Australian THS market has a fair share of domestic participants dominating the market. These companies usually focus on certain sectors such as mining, which has been listed as one of the priority industries for national development. End users that are looking for cheaper options to conventional building structures prefer THS for events and accommodation in camp parks.
"These alternative uses will offer wider scope of application for THS participants, as Australians are more inclined towards outdoor activities than some Asian countries such as Indonesia, Malaysia and Singapore," notes Wung.
If you are interested in more information on this study, please send an e-mail to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
Temporary Housing Structures in Australia is part of the Building Management Technologies Growth Partnership Services program, which also includes research in the following markets: IFM Market in South Korea, Fire and Smoke Detection Devices Market in Australia, and Temporary Housing Structures in Singapore. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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