Government regulations requiring only licensed companies to haul hazardous waste benefit the industry.
Melbourne, Australia (PRWEB) November 24, 2013
Demand for the Hazardous Waste Hauling industry in Australia continues to be high, with a wide range of downstream industries producing waste that requires collection and transportation by specialist firms. According to IBISWorld industry analyst Alen Allday, “Industry growth has increased at a steady rate as hazardous waste volumes from the manufacturing, medical, construction, hospitality and other sectors generally increased as economic conditions remained relatively sound.” IBISWorld estimates hazardous waste volumes will increase at an annualised rate of 1.9% over the five years through 2013-14. Higher volumes combined with strong pricing levels contributed to stronger industry revenue growth over these years.
Government regulations requiring only licensed companies to haul hazardous waste benefit the industry. Due to the toxic and dangerous nature of hazardous waste, only licensed companies and individuals are permitted to remove and haul these waste goods. “This limits internal competition within the industry and reduces pricing competition,” says Allday. Driven by higher hazardous waste volumes over the past five years, IBISWorld estimates that industry revenue will increase at an annualised 3.8% in the five years through 2013-14. This includes estimated growth in 2013-14 of 3.6% to reach $1.0 billion.
Hazardous Waste Hauling industry revenue is expected to continue to increase at a steady rate in the next five years. Fewer new firms are forecast to enter the industry, further reducing pricing competition. Industry concentration is at a low level with no single firm dominating the industry and with a large number of small operators servicing hazardous waste hauling clients. Hazardous waste volumes are forecast to increase over the five years through 2018-19, though at a slower rate than in the past five years as the industry continues to mature.
For more information, visit IBISWorld’s Hazardous Waste Hauling in Australia industry report page.
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IBISWorld industry Report Key Topics
The industry provides hazardous waste collection and hauling services. Waste is classified as hazardous if it poses substantial or potential threats to public health or the environment. Four factors determine whether or not a substance is hazardous: ignitability, reactivity, corrosivity and toxicity. The industry excludes councils or municipalities that directly provide hazardous waste services.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.