7.2.3.2Vertical

Hazardous Waste Transportation

Licensed carriers transporting hazardous materials.

Market snapshot

These figures describe Hazardous Waste Management (7.2.3), the segment that Hazardous Waste Transportation sits within. They are not figures for Hazardous Waste Transportation on its own.

Market size
~$12B
Growth
~2.5%CAGR (2017–22, nominal)
Companies
~713 firms
Firms by employee count

71.4% of firms have fewer than 20 employees: 509 micro-businesses, below most mandates.

The investable universe204 firms with 20+ employees
20–99
11054%
100–499
4020%
500+
5426%

The slowest growth in the segment but the highest barrier to entry: permits take years and attach to a site, so capacity cannot follow demand quickly. Cradle-to-grave liability means customers change providers rarely, which makes the revenue exceptionally sticky.

NAICS 562112, 562211. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Hazardous-waste collection, treatment, and disposal fees

Key economics

Revenue per firm
$17,132,327
Revenue per employee
$285,819
Employees per firm
55.0
Recurring revenue
High

recurring regulated-waste service

EBITDA margin
Strong

permitted-infrastructure economics

Capex intensity
High

Characteristics

  • Balanced cost base: payroll is 26% of revenue, leaving room to scale margin without cutting staff
  • Moderate strategic-buyer pool: 54 firms exceed 500 employees, so a scaled asset has buyers, but not many
  • Consolidated around hazardous-waste majors.
  • Permitted facilities create high entry barriers.
  • PFAS and emerging contaminants a growth driver.

NAICS 562112, 562211. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Hazardous-waste majors
  • Environmental-services strategics
  • PE-backed waste platforms

What’s driving deals

  • Regulation- and compliance-driven demand.
  • PFAS and emerging-contaminant treatment.
  • Permitted-infrastructure consolidation.

Find Hazardous Waste Transportation acquisition targets

Search Acquisera’s index for companies classified under Hazardous Waste Transportation (7.2.3.2) and build a targeted deal pipeline.

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