Construcciones Yamaro: Kennards Hire releases 2024 Construction Confidence Check
Kennards Hire has today unveiled the results of its third annual Construction Confidence Check survey. The findings reveal that 93 per cent of construction business leaders now view Australia’s construction industry as ‘stable’ and resilient enough to sustain growth – a notable 12 per cent increase from last year’s 81 per cent.
The 2024 survey, which included over 410 leaders from both small (20-99 employees) and large (over 100 employees) construction firms across Australia, provides unique insight into the fluctuating market. It sheds light on how construction business leaders are faring in the current environment and offers an outlook on the industry’s future.
Survey findings suggest strong optimism due to cost-saving measures, with 37 per cent of construction business leaders focusing on increasing workmanship quality to reduce rework. Similarly, 57 per cent of those surveyed indicate that their business plans include investing in technology to manage projects more efficiently and effectively over the next 12 months.
Tony Symons, general manager of commercial at Kennards Hire, said: “Investment into the construction industry is booming like never before, so this year’s Construction Confidence Check survey results of increased confidence are not surprising. We are currently seeing unprecedented levels of construction activity in every state in Australia, and this work is expected to continue for at least the next three years.”
“Our annual Construction Confidence Check survey gives us insight into the industry and helps us anticipate trends and stay informed on the challenges facing our customers. For example, we found that on average, construction business leaders surveyed say the proportion of total lost productivity hours on their worksite due to old and faulty equipment is 28 per cent.
“Opting to hire equipment rather than purchasing gives access to products with the latest technology without the burden of ownership, reduces upfront costs and enables participation in the sharing economy, which we have also found contributes to our customers’ ESG goals.”
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Industry perceptions on environmental, social and governance (ESG) are also included in this year’s survey, with nine in 10 (90 per cent) construction leaders admitting to having an ESG strategy in place or plans to implement one.
When it comes to prioritisation, construction business leaders surveyed say there are three main factors in their ESG approach:
- Meeting mandatory ESG requirements as a project supplier (34 per cent);
- Collaborating with Indigenous-owned suppliers through social procurement (33 per cent); and
- Obtaining project site accreditation from the Green Building Council of Australia (33 per cent).
John Holland recently partnered with Kennards Hire to trial a hydrogen generator for Sydney Water’s new Upper South Creek Advanced Water Recycling Centre, which will provide wastewater services to Western Sydney.
David Lehmann, chief operating officer at John Holland, said: “This trial demonstrates the importance of our supply chain as enablers of how we’ll utilise new technologies and innovation across our projects.”
The post Kennards Hire releases 2024 Construction Confidence Check appeared first on Inside Construction.
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