Fastest Declining Industries in Australia by Revenue Growth (%) in 2026

• 1. Hydro-Electricity Generation in Australia

  2026 Revenue Growth: -32.7%

  Hydro generators have faced volatile global and domestic energy markets in recent years, prompting regulators and governments to intervene and stabilise the National Electricity Market (NEM) to ensure a stable electricity supply. In 2021-22 and 2022-23, global energy markets underwent significant turmoil as coal and gas prices soared. This flowed through to wholesale market prices, bolstering hydro generators' profit since they don't face the fossil fuel input costs that plague other generato...

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• 2. Coal Seam Gas Extraction in Australia

  2026 Revenue Growth: -23.7%

  Revenue for the Coal Seam Gas Extraction industry has been significantly volatile over the past five years. Technological developments have reduced the cost of exporting natural gas, encouraging investment in export facilities and new gas fields in Queensland over the past decade. Three international consortia invested $69.7 billion in constructing three gas liquefaction and export facilities on Curtis Island near Gladstone, QLD, and in associated gas wells and pipelines throughout the state ...

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• 3. Alumina Production in Australia

  2026 Revenue Growth: -23.6%

  Australia is the world's largest bauxite producer and alumina exporter. Alumina is made by applying the Bayer process to bauxite. It can then be further refined into aluminium. The Alumina Production industry is highly concentrated and has only three major players: Alcoa, Rio Tinto and South32. Each firm is vertically integrated, with upstream bauxite mining and downstream aluminium smelting operations. The industry has displayed volatility over the past few years due to production disruption...

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• 4. Factory and Industrial Building Construction in Australia

  2026 Revenue Growth: -18.9%

  The Factory and Industrial Building Construction industry constructs buildings ranging from simple tilt-wall warehouse spaces to sophisticated purpose-built laboratories with high security and humidity-controlled environments. Revenue is responsive to trends from several segments of the economy, including manufacturing, wholesaling, mining and agriculture. Much of the surge in the industry’s performance in recent years has come from constructing warehousing and distribution facilities to meet...

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• 5. Fossil Fuel Electricity Generation in Australia

  2026 Revenue Growth: -15.3%

  Fossil fuel generators have historically supplied most of Australia's electricity, as coal is the central fuel powering the country. Large, centralised coal-fired power stations have long been the basis for electricity generation in Australia. However, climate change radically shifts this dynamic, providing the impetus for a transition away from fossil fuels. In the medium to long term, this trend presents an ongoing threat to the future of fossil fuels in the electricity supply chain.

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• 6. Nut, Bolt, Screw and Rivet Manufacturing in Australia

  2026 Revenue Growth: -14.5%

  The Nut, Bolt, Screw and Rivet Manufacturing industry has experienced mixed conditions over the past five years, facing pressure from weak construction demand, rising import penetration and tightening profit margins. Defence-linked growth opportunities have partly offset these challenges. The industry relies heavily on consistent demand from the construction sector. Although revenue saw a brief lift in 2022-23 following a post-pandemic rebound in construction activity, ongoing labour shortage...

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• 7. Petroleum Refining and Petroleum Fuel Manufacturing in Australia

  2026 Revenue Growth: -13.1%

  The Petroleum Refining and Petroleum Fuel Manufacturing industry has faced highly volatile conditions over recent years, as the pandemic wreaked turmoil on global energy supply chains. The global situation filtered down to Australia's petroleum market, contributing to the closure of two of Australia's last four remaining oil refineries. BP closed its refinery in Kwinana, while ExxonMobil shut down the Altona refinery. Both the closed refineries were converted into import terminals, directly i...

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• 8. Road and Bridge Construction in Australia

  2026 Revenue Growth: -12.6%

  Leading construction companies have ridden an unprecedented wave of road construction activity thanks to record investment in mega projects, like the WestConnex motorway in Sydney and the West Gate Tunnel in Melbourne. An injection of public funding and progress on landmark public-private partnership (PPP) developments have lifted the industry to new heights, primarily benefiting prominent contractors participating in strategic joint ventures and on PPP-funded developments, including CPB Cont...

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• 9. Liquefied Natural Gas Production in Australia

  2026 Revenue Growth: -11.6%

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• 10. Nickel Ore Mining in Australia

  2026 Revenue Growth: -10.6%

  Nickel ore miners faced mostly positive operating conditions over the past decade, with strong pricing growth over most of the period amid rising global demand for nickel. However, in 2023-24, oversupply in the global market prompted a sharp price downturn, forcing smaller nickel ore miners like Wyloo and Panoramic Resources to cease and suspend operations. The Federal Government reacted to weak nickel ore prices and these closures by providing relief through tax credits and subsidies, adding...

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