Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Fastest Declining Industries in Australia by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest declining industries2019-2020 Revenue Growth: -89.6%
The Federal Government's investment in the rollout of the national broadband network (NBN) has underpinned the robust expansion of the Fibre Optic Cable Installation industry over the past five years. The objective of the NBN is to provide all Australian households, businesses and government agencies with an advanced communications platform to access internet-based data and entertainment. This project is overseen by NBN Co, which is tasked with the responsibility to supply Australia's NBN, including the wholesaling of network access to retail communication companies. NBN Co contracts industry operators to design and construct the network, with the prime contractors assigned the... Learn More
2019-2020 Revenue Growth: -59.2%
The Telecommunications Infrastructure Construction industry is driven by technological advances and growing demand from households and businesses for voice and data telecommunications. The Federal Government's commitment to constructing the NBN, which is Australia's largest infrastructure project, has been the principal factor underpinning demand for industry services over the past five years. The industry has also derived substantial stimulus over the period from major telecommunications carriers rolling out their 3G and 4G mobile telecommunications networks. In addition, construction work on wireless transmission stations for new 5G mobile networks is currently supporting the industry.
The Federal Government scaled back the NBN in 2013-14,... Learn More
2019-2020 Revenue Growth: -48.4%
The Wind Farm Construction industry provides engineering, procurement and construction services for wind power generation projects. The industry has benefited from government intervention to boost use of renewable energy sources and reduce reliance on carbon-emitting fossil fuels. The Renewable Energy Target (RET) compels electricity generators and retailers to increase the share of power generated from renewable sources. Following a review, in June 2015, the Federal Government scaled back the RET, which initially reduced investment in wind projects, although most state and territory governments have independently legislated their own RETs.
The industry's performance has rebounded from a deep cyclical low in 2014-15,... Learn More
2019-2020 Revenue Growth: -36.6%
Operators in the Domestic Airlines industry have faced mixed trading conditions over the past five years. The COVID-19 pandemic has significantly constrained air travel volumes. Most state governments closed their borders in late 2019-20, all but halting interstate travel. Industry revenue strongly declined during the same year, despite moderate growth prior to March 2020. Although domestic air passenger numbers have been trending upward since April 2020, industry demand is projected to remain far below that reported before the outbreak of COVID-19 during 2020-21. Virgin Australia's downsizing, including the retirement of the Tigerair brand, is expected to limit airline capacity during... Learn More
2019-2020 Revenue Growth: -36.5%
Players in the Luxury Accommodation industry provide high-end accommodation options for domestic and inbound travellers. While hotels are the primary luxury accommodation option, the industry also includes high-quality serviced apartments and other five-star establishments. The COVID-19 pandemic has significantly disrupted the industry's performance. The pandemic and the Australian Government's subsequent border controls have essentially halted inbound tourism since March 2020, with only New Zealanders currently allowed to enter the country. As wealthy international guests are a key source of demand for luxury accommodation providers, the collapse of inbound tourism has significantly decreased industry revenue. Overall, industry revenue is expected to... Learn More
2019-2020 Revenue Growth: -35.8%
The fortunes of the Hotels and Resorts industry have been mixed over the past five years. Over the three years through 2018-19, the depreciating Australian dollar supported the industry by increasing the number of international arrivals, particularly from Asian countries, by making it cheaper to travel in Australia. The weak dollar also made it more expensive for Australians to travel overseas. This trend boosted the number of international and domestic tourist visitor nights over the period, increasing demand for the industry's services. In addition, increased domestic business travel activity, which is a major revenue stream for larger hotels, further supported... Learn More
2019-2020 Revenue Growth: -31.9%
The Oil and Gas Extraction industry has grown over the past five years, despite exhibiting high volatility. Changes in oil and gas prices, exchange rate movements, domestic and export demand for oil and gas, and annual production volumes all influence the industry's performance. Industry output has expanded over the past five years, while world oil and natural gas prices have declined. Australian natural gas production, which makes up most of the industry, is expected to increase at an annualised 12.4% over the five years through 2020-21. Although the world price of natural gas has fallen over the period, industry revenue... Learn More
2019-2020 Revenue Growth: -31.5%
Airlines from different countries operate in the International Airlines industry. While many airlines, such as Emirates and Singapore Airlines, have a significant market presence in Australia, few foreign airlines have local incorporated subsidiaries. As a result, any airline that flies passengers or freight to or from Australia is included in the industry. The number of people travelling to and from Australia grew strongly over the four years through 2018-19, mostly due to increased tourism from countries in the Asia-Pacific region and from the United States. The growing popularity of Australia as a tourist destination has benefited international airlines and given... Learn More
2019-2020 Revenue Growth: -30.0%
Operators in the Multi-Unit Apartment and Townhouse Construction industry have benefited from a long-term shift in home ownership trends over the past decade. Home buyers have increasingly opted to purchase inner-city, multi-unit apartments and townhouses that offer an urban lifestyle without high residential land costs. Industry operators construct a range of high- and medium-density residential buildings, including suburban flats, military barracks and designer retirement communities. The industry primarily consists of small to medium-scale contracting firms, although several large-scale industry contractors work on high-profile apartment developments.
The industry's performance has fluctuated greatly over the past five years. Multi-unit residential commencements peaked at... Learn More
2019-2020 Revenue Growth: -29.6%
The Wool Wholesaling industry has declined significantly over the past five years. A decline in the price of wool, combined with ongoing drought conditions across the east coast, have significantly affected the industry. An appreciation of the Australian dollar over the past five years has also weakened the international competitiveness of Australian wool, negatively affecting industry operators that act as exporting agents. The outbreak of COVID-19 has significantly affected demand for wool in global markets, with supply chain restrictions and falling consumer demand resulting in lower purchase orders for Australian wool. Falling prices have also reduced profit margins across the... Learn More
Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Riskiest Industries in Australia in 2021
VIEW ARTICLEBased on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Least Risky Industries in Australia in 2021
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