Construction Confidence Check 2024

Kennards Hire, Australia’s largest family-owned equipment hire company, has released findings from its third annual Construction Confidence Check survey. The results show an overwhelming majority (93%) of construction business leaders view Australia’s construction industry as ‘stable’ and able to withstand pressures to continue growing, a 12% increase from last year (93% in 2024 vs. 81% in 2023). 

The 2024 Kennards Hire Construction Confidence Check* surveyed over 410 of Australia’s business leaders from small (with 20-99 employees) and large (100+ employees) construction businesses. Its findings provide unique insight into the fluctuating market, how construction business leaders are faring in the current environment, and an outlook on the industry’s future.  

Survey findings suggest optimism is strong due to cost-saving measures, with 37% of construction business leaders focusing on increasing the quality of workmanship to reduce rework. Similarly, 57% of those surveyed say their business plan includes investing in technology to manage projects more efficiently and effectively over the next 12 months. 

Tony Symons, General Manager, 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%. 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,” said Symons.

Industry perceptions on ESG are also included in this year’s survey, with nine in ten (90%) 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%)
• Collaborating with Indigenous-owned suppliers through social procurement (33%)
• Obtaining project site accreditation from the Green Building Council of Australia (33%).

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.  

Chief Operating Officer David Lehmann said: “This trial demonstrates the importance of our supply chain as enablers of how we’ll utilise new technologies and innovation across our projects.”

For more information, requests for interviews with a Kennards Hire spokesperson or further data, please contact:

Liz Eassie | elizabetheassie@kennards.com.au | 0418 673 196

Note: The findings from the 2024 Kennards Hire Construction Confidence Check are the result of a survey conducted by YouGov from 13 - 21 May 2024. The sample comprised of 410 senior business leaders/ decision makers from small construction businesses with 20-99 employees and large construction businesses with 100+ employees in Australia.