Pest Control Services Market to Grow Over $5 Billion During 2020-2024 | North America to Offer Significant Growth Opportunities | Technavio
The new pest control services market research report from Technavio indicates positive growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Pest Control Services Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the pest control services market.
"One of the primary growth drivers for this market is the growing hospitality, pharmaceutical, and food industries,” says a senior analyst for Industrials at Technavio. As the markets recover Technavio expects the pest control services market size to grow by USD 5,103.00 million during the period 2020-2024.
Pest Control Services Market Segment Highlights for 2020
- The pest control services market is expected to post a year-over-year growth rate of 2.03%.
- Based on the application, the general pest control segment led the market in 2019. The segment is driven by the growing demand for pest control from emerging markets such as India and China led by increased standards of hygiene, growing product availability, and the need to counter epidemics caused by fast-spreading bed bugs that could affect hotels, shops, and the healthcare industry.
- The market growth in the segment will be significant over the forecast period.
- 45% of the growth will originate from the North America region.
- The market growth in North America is driven by factors such as the introduction of stringent environmental regulations, the decreasing demand for toxic solutions, and the rise in bed bug infestations.
- The US and Canada are the key markets for pest control services in North America. Market growth in this region will be faster than the market growth in Europe.
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- The pest control services market size is expected to accelerate at a CAGR of almost 5% during the forecast period.
- The pest control services market is segmented by End-user (Residential and Commercial), Application (General pest control and Termite control), and Geography (North America, Europe, APAC, South America, and MEA).
- The market is fragmented due to the presence of many/few established vendors holding significant market share.
- The research report offers information on several market vendors, including Anticimex International AB, Arrow Exterminators Inc., Asante Inc., Dodson Pest Control Inc., Ecolab Inc., Massey Services Inc., Rentokil Initial Plc, Rollins Inc., SANIX INC., and ServiceMaster Global Holdings Inc.
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