Occupational Health And Workplace Safety Services In Australia Industry Market Research Report Now Available From IBISWorld

The Occupational Health & Workplace Safety Services industry has had its ups and downs over the past five years due to volatility in its downstream markets. However, the diversity of its markets has helped the industry post low overall growth. Growth is forecast to strengthen in 2012-13 as some businesses begin to implement new regulations due to the shift to harmonised occupational health and safety laws. This shift is expected to continue to benefit the industry over the next five years. For these reasons, industry research firm IBISWorld has added a report on the Occupational Health & Workplace Safety Services industry in Australia to its growing industry report collection.

Melbourne, Australia (PRWEB)  - The Occupational Health & Workplace Safety Services industry in Australia has been affected by safe and risky conditions over the past five years. Some of its markets have prospered while some customers have been distressed. According to IBISWorld analyst Aries Nuguid, “the diversity of the industry's client base has helped ensure that industry revenue has grown over the past five years”. On the other hand, business confidence plummeted as the global economic downturn hit Australia. Consequently, industry customers cut back on discretionary services and reduced their employee numbers to sustain their profitability. The higher unemployment meant less need to secure workplaces. Overall, industry revenue is expected to grow at a slow annualised 0.8% over the five years through 2012-13. The same trends have caused industry profitability to decline over the past five years. Industry revenue is expected to grow at a much healthier rate of 4.1% in 2012-13 as some businesses begin the implementation of new regulations due to the shift to harmonised occupational health and safety (OH&S) laws.

“Safer growth conditions are anticipated for the Occupational Health & Workplace Safety Services industry over the next five years”, says Nuguid. Growth in revenue will be due to the harmonisation of OH&S regulations across Australia, which will mean that businesses may have to meet new regulations. Businesses will hire industry service providers to ensure their employees work in safe environments that meet safety laws. This activity will boost industry revenue in the short to medium term. The increase in demand will enable industry firms to widen operating profit margins.

Market share concentration in the industry is low due to the prevalence of small OH&S consultancies and auditors. Additionally, the nature of Australia's economy (which is populated by varied and small enterprises) means that the most profitable business strategy of the industry's largest participants is to focus on the economy's largest businesses. This leaves much room for smaller companies to provide niche services such as test and tagging. The two largest companies in the industry are Bureau Veritas Australia Pty Ltd and SGS Australia Holdings Pty Limited. For more information, visit IBISWorld’s Occupational Health & Workplace Safety Services report in Australia industry page.

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IBISWorld industry Report Key Topics

This industry provides advice and assistance to organisations and companies to assure safe and healthy working conditions for employees. Firms provide training, outreach, education and assistance.

• Industry Performance
• Executive Summary
• Key External Drivers
• Current Performance
• Industry Outlook
• Industry Life Cycle
• Products & Markets
• Supply Chain
• Products & Services
• Major Markets
• International Trade
• Business Locations
• Competitive Landscape
• Market Share Concentration
• Key Success Factors
• Cost Structure Benchmarks
• Basis of Competition
• Barriers to Entry
• Industry Globalisation
• Major Companies
• Operating Conditions
• Capital Intensity
• Technology & Systems
• Revenue Volatility
• Regulation & Policy
• Industry Assistance
• Key Statistics
• Industry Data
• Annual Change
• Key Ratios

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.