Pest control products and services are used to kill or deter pests like termites, rodents, insects and wildlife that may cause damage to structures or spread disease. The chemicals in pest control offerings are highly effective against a wide range of pests while also being safe for use in occupied buildings.
The global Pest Control Products And Services Market is estimated to be valued at Us$ 23.78 Bn in 2023 and is expected to exhibit a CAGR Of 6.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The expanding commercial sector is one of the key trends driving the pest control products and services market. As urbanization increases around the world, more commercial buildings like shops, malls, hotels, restaurants and offices are being constructed which provides a huge target base for pests. Commercial properties require regular pest control treatments to prevent pest infestation and ensure a hygienic environment for customers and employees. The development of sophisticated pest control tools and techniques has also made commercial pest management more effective. This has led to increased demand from the commercial segment and accelerated the market growth of pest control products and services overall.
Segment Analysis
The global pest control products and services market is dominated by the chemical pest control sub segment. Chemical pest control includes insecticides, rodenticides, and other chemicals to kill or repel pests. It accounts for more than 60% of the total market share due to its low cost and high effectiveness in eliminating pests across both commercial and residential applications. However, the mechanical pest control sub segment is expected to witness faster growth during the forecast period due to rising environmental concerns regarding the use of chemical pesticides.
Key Takeaways
The Global Pest Control Products And Services Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 23.78 Billion by 2023.
Regional analysis:
North America currently dominates the global market due to large-scale commercial and residential construction activities in countries like the US and Canada. However, Asia Pacific is expected to emerge as the fastest growing regional market. Rapid infrastructure development and urbanization in countries like China and India is driving the demand for integrated pest management in the region.
Key players:
Key players operating in the pest control products and services market are Ecolab Inc., Rollins Inc., Rentokil Initial Plc., ServiceMaster Company, LLC, Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Pest Control, Inc., Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions, LLC, and Univer Inc. Ecolab Inc. and Rollins Inc. have established a leading position in the market owing to their wide product portfolio and global service network. Other players are focusing on new product launches and mergers & acquisitions to strengthen their market presence.
Get more insights on this topic :
Comments
0 comment