Surveying the options: Declining mining activity has constrained revenue growth

The Quantity Surveying Services industry provides a niche service in engineering consultancy. Industry companies provide procurement advice, cost planning and asset capitalisation (depreciation scheduling). The industry has faced a challenging operating environment over the past five years, with revenue expected to increase at an annualised 0.9% over the five years through 2018-19.Demand from a range of major downstream markets and the growing importance of industry services to client businesses have an influence on industry performance. Activity in the construction, mining and government sectors greatly affects requirements for quantity surveying services...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 14-19
0.9%
Forecast Growth 19-24
x.x%lock
Profit
x.x%lock
Employment
9,162
Businesses
3,217
Market Share of Companies

Industry Threats & Opportunities

  • Reduced actual capital expenditure on mining has constrained revenue growth
  • Profitability has grown due to favourable pricing as industry services have become more specialised
  • Increased demand for feasibility studies and cost planning will greatly benefit the industry

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    Industry Report - Industry Investment Chapter

    The industry has low capital intensity due to the work of a quantity surveyor being largely knowledge-based and requiring little capital, apart from computers and vehicles. In 2018-19, for every dollar spent on wages, the industry is projected to invest $0.06 in capital plant, equipment and vehicles. Capital intensity has decreased slightly over the past five years, due to stable investment in data storage, analysis and transmission technology, while wage costs increased as a portion of revenue. Capital intensity is expected to continue to decline slightly over the five years through 2023-24, due to wages increasing as a proportion of industry revenue, and depreciation remaining stable over the period...purchase to read more.

    Additional Insights for the Quantity Surveying Services Industry

    IBISWorld has determined the most important Key Success Factors for the Quantity Surveying Services are:

  • Economies of scope
  • Having a good reputation
  • Access to highly skilled workforce

    • IBISWorld analysts also discuss how external factors such as Demand from non-residential building construction and Capital expenditure by the public sector in the Quantity Surveying Services industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Quantity Surveying Services Industry?

    Quantity surveyors provide cost planning and commercial management of construction projects. This includes risk management and procurement advice.

    Industry Products
  • Cost planning and commercial management
  • Risk management
  • Procurement advice and assistance
  • Depreciation scheduling
    • Industry Activities
  • Cost planning services
  • Project estimate services
  • Commercial management services
  • Procurement advice services
  • Value engineering services
  • Risk management services
  • Depreciation scheduling services
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Demand from non-residential building construction
  • Capital expenditure by the public sector
  • Actual capital expenditure on mining
  • Demand from heavy and civil engineering construction
  • Demand from multi-unit apartment and townhouse construction

    • Current Performance
  • Industry demand drivers
  • Engineering consultancy
  • Public-private partnerships
  • Chart: Revenue Growth

    • Industry Outlook
  • Downstream demand
  • Mixed market demand
  • Future PPP demand
  • Table: Quantity Surveying Services Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Quantity Surveying Services Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Mining
  • Electricity, Gas, Water and Waste Services
  • Road and Bridge Construction
  • Heavy Industry and Other Non-Building Construction
  • Commercial and Industrial Building Construction
  • Institutional Building Construction

    • Key Selling Industries
  • Construction
  • Finance
  • Legal Services

    • Products & Services
  • Cost planning and commercial management
  • Depreciation scheduling
  • Risk management
  • Procurement advice and assistance
  • Chart: Quantity Surveying Services Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Property developers
  • Public sector
  • Mining and energy firms
  • Utilities operators
  • Other sectors
  • Telecommunications operators
  • Chart: Major Market Segmentation for the Quantity Surveying Services Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Depreciation, rent and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Quantity Surveying Services

    • Basis of Competition
  • Internal
  • External

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Quantity Surveying Services Industry

    • Industry Globalization

    Major Companies

    Jacobs Australia Holdings Company Pty Ltd, WorleyParsons Limited, Rider Levett Bucknall, Bechtel Australia Proprietary Limited,
  • Table: Jacobs Australia Holdings Company Pty Ltd - financial performance
  • Table: WorleyParsons Limited - financial performance
  • Table: Rider Levett Bucknall - financial performance
  • Table: Bechtel Australia Proprietary Limited - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Quantity Surveying Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Quantity Surveying Services Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Engineering, Procurement And Construction (Epc)
  • EPC is a common contracting arrangement for construction projects. Engineering consultancy companies are often referred to as EPC companies.
    • Public-Private Partnerships
  • PPPs are the provision of a government service that is operated in a partnership with the private sector.
    • Tender
  • Also referred to as bidding, this involves presenting an offer to a client to enter into a contract, generally as part of an overall request for tender to supply services.
    • What Our Customers Say
    Why buy this report?

    The Quantity Surveying Services market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Quantity Surveying Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Quantity Surveying Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Quantity Surveying Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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