Industry Analysis & Industry Trends
Demand for hazardous waste hauling services is relatively high, due to the dangerous nature of the waste and the harm that it can cause to people and the environment. The industry services a wide range of downstream industries that produce hazardous waste requiring collection and transportation. Industry revenue has increased at a steady rate as hazardous waste volumes from the medical, construction, and hospitality sectors have generally increased as economic conditions have remained relatively sound. Although demand from the Manufacturing division is high, this market has fallen as a proportion of industry revenue in the past five years due to declines across the division.
IBISWorld expects hazardous waste volumes to increase at an annualised 1.7%... purchase to read more
Industry Report - Starting a New Business Chapter
Entry barriers to the industry are high due to regulatory and licensing requirements to handle and transport hazardous waste, particularly chemicals, medical waste and asbestos. These licences are usually granted to companies that have experienced and trained staff to transport waste, as well as having required trucks and equipment. In addition, hazardous waste trucks are specialised vehicles that can be costly to purchase and fit-out. Therefore, vehicle and equipment costs for hazardous waste haulage companies are a further entry barrier to the industry.
There are several large companies operating in the industry that have a national presence or operate across several states and territories... purchase to read more