-- Good opportunities for private waste management companies with expertise and efficiency in engineering both treatment facilities and landfill
SYDNEY, March 26, 2014 /PRNewswire/ -- Government emphasis on waste diversion from landfills will strengthen the prospects of the solid waste management (SWM) market in Australia. With increasing waste volume and the government's long-term plan to achieve zero or near-zero waste, market participants are already seeing the lucrative benefits of SWM. However, growth will be tempered by the lukewarm demand for recovered materials and the inconsistent standards enforced across states and territories in the country.
New analysis from Frost & Sullivan, Solid Waste Management Market in Australia, finds that the market earned revenues of $6.80 billion in 2013 and estimates this to reach $8.21 billion in 2018. The study covers waste collection, waste recovery, and waste disposal services.
Although the SWM market in Australia is mature, it will continue to evolve in terms of waste collection efficiency and the uptake of resource recovery as the government implements a reduce, reuse, recycling, and recovery strategy.
"Current regulatory requirements and the need for the organised management of the rising amount of waste generated in Australia are pushing SWM initiatives by the government," said Frost & Sullivan Energy and Environment Research Analyst Janice Wung. "The landfill levies imposed to divert waste away from landfill has further influenced stakeholders in the SWM market to turn to waste recovery."
Unfortunately, the varying management practices, definitions, and classifications for waste among the various states and local government authorities have complicated the waste collection procedure in Australia. Waste management companies often need to customize solutions by regions, affecting their cost efficiency.
Further, the high capital required for waste recovery and the price fluctuations of certain recycled materials deter firms from investing in material recovery facilities. To win new customers, offering environmental protection solutions as value-added propositions along with basic waste management services will be crucial.
"Private companies with established expertise in engineering both treatment facilities and landfill will be favored in this market," stated Frost & Sullivan Energy and Environment Research Associate Harpreet Kaur. "Those with state-of-the-art waste treatment processes and technologies too will gain an upper hand over the competition."
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Solid Waste Management Market in Australia is part of the Environmental (http://www.environmental.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Water and Wastewater Treatment (WWWT) Market in Brunei, Hong Kong, Maldives, and Taiwan, Produced Water Market Analysis in Gulf Cooperation Council (GCC) Countries, Global Waste to Energy Plant Market, and Commercial and Residential Point-of-Entry Water Treatment Systems Market in India. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Solid Waste Management Market in Australia
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SOURCE Frost & Sullivan