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Hazardous Waste Hauling in Australia Industry Market Research Report Now Updated by IBISWorld
Date:11/23/2013

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 concentr
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