Yahoo Finance Global Pest Control Services Market Expected to Reach up to $12,478.0 Million and Rise at a CAGR of 5.4% from 2020 to 2027 - Exclusive COVID-19 Impact Analysis [211 pages] Report by Research Dive
Global pest control services market is anticipated to observe momentous growth over the forecast period, primarily owing to the increasing prevalence of pest-caused diseases around the world. By type, the single sub-segment is estimated to be most profitable by 2027. Regionally, the North America is anticipated to dominate in the estimated timeframe.
New York, USA, April 13, 2021 (GLOBE NEWSWIRE) -- According to a newly published report by Research Dive, the global pest control services market is estimated to generate $12,478.0 million by 2027, and grow at a CAGR of 5.4% over the forecast period from 2020 to 2027. As per our analysts, the growing prevalence of pest-caused diseases across the globe is the major factor projected to greatly contribute to growth of global pest control services market during the forecast period. Besides, the growing adoption of technological advancements such as drone pest control in order to provide faster services to customers is predicted to create lucrative opportunities for the global market by 2027.
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Conversely, stringent government regulations related to the product approvals as pest eliminations are of high toxicity is expected to hamper the market growth in the estimated timeframe.
Impact of COVID-19 on the Market
This undesirable impact is majorly due to disruption in supply chains & services all over the globe in order to curb the spread of coronavirus. On the contrary, the global industry is predicted to witness momentous growth in the coming years post lockdown, owing to the rising demand for pest control services especially from residential sectors.
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Insects Sub-segment to Dominate the Industry
By pest type, the insects sub-segment is anticipated to subjugate in the global industry and account for $3,906.7 million during the forecast period. This dominance can be majorly due to the rise in number of insects which is impacting the post control services demand across the globe.
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Commercial Sub-segment to Witness Hold Largest Market Share
By end user, the commercial sub-segment valued for $3,723.4 million and is expected to account for the highest revenue share in the global market by 2027. This is majorly because pest control service providers have long-term contract with commercial sector to keep safe as well as hygienic surroundings in the commercial places.
North America to Witness Considerable Growth
By region, the North America market for pest control services valued for $4,493.9 million in 2019 and is expected to dominate throughout the forecast period. The rising demand for termite control services from residential & commercial sectors and the presence of key service providers in the region is expected to drive the regional market growth by 2027.
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Major Market Players
1. Ecolab
2. Rentokil Initial plc
3. Rollins, Inc.
4. The Terminix International
5. Anticimex
6. MASSEY SERVICES, INC.
7. Aptive Environmental
8. ABC Home & Commercial Services
9. Cook’s Pest Control
10. Home Paramount Pest Control
The players are adopting several strategies and applying numerous business tactics to acquire a leading position in the global industry. For instance, in April 2020, Terminix Commercial, a leading provider of commercial pest management, announced the launch of a new disinfecting service in order to meet the growing need for disinfection head-on. The new service namely, ‘Disinfectix’ Site Disinfecting Service, is an effective and convenient way to give business owners the confidence that their areas will be clean for customers and staff.
Further, the report presents and outlines various aspects of these major players such as business performance, recent developments, recent strategic moves, product portfolio, and SWOT analysis. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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