New York, USA, June 09, 2021 (GLOBE NEWSWIRE) -- As per the latest report by Research Dive, the global pest control services market is estimated to generate a revenue of $12,478.0 million by 2027, and grow at significant CAGR of 5.4% over the forecast period (2020 to 2027). According to our analysts, the growing occurrence of pest-caused diseases around the world is the significant factor predicted to accelerate the growth of the global market by 2027. According to the World Health Organization (WHO), dengue was the most occurred viral infection caused by pests and mosquitoes in 2019 and it is also responsible for most of the viral infections, such as chikungunya, Zika virus fever, tick-borne encephalitis, and other diseases. In addition, the growing adoption of technologies such as drone pest control to provide customers with faster services is another factor expected to drive the global market growth. However, the strict government regulations in various countries related to the product approval due to the high toxicity of chemicals is projected to hinder the market growth in estimated timeframe.
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Impact of COVID-19 on the Market
The outbreak of COVID-19 has had a negative impact on the global pest control services market owing to severe disruption in supply chain and services around the world.
However, the global industry is projected to experience a notable growth post lockdown period mainly due to the growing demand for pest control services, particularly from residential sectors. In addition, some of the leading players of the market are offering disinfection services and adopting several strategies to sustain during the pandemic period. For instance, in April 2020, ServiceMaster Global Holdings, Inc., announced the launch of a new disinfection service namely, ‘Disinfectix Disinfection Service’ to meet the rising demand for COVID-19 disinfection.
Check out How COVID-19 impacts the Global Pest Control Services Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/8371
Insects Sub-segment to Hold Highest Market Share
By pest type, the insects sub-segment valued for and is projected to generate highest share in the market and surpass $3,906.7 million in the forecast period. This is majorly owing to increase in number of insects worldwide coupled with rising demand for pest control services demand. In addition, increasing insect’s intolerance among people is estimated to accelerate the sub-segment’s market growth.
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Residential Sub-segment to be Observe Strong Growth
By end user, the residential sub-segment is estimated to generate a revenue of $4,573.8 million by 2027 and witness significant growth during the forecast period. This can be attributed to rising demand for pest control services from residential areas owing to growing occurrence of vector borne diseases. Besides, the growing importance of hygiene practices is creating a need to eradicate pest- caused diseases by regular pest growth inspection, which is driving the growth of the sub-segmental market.
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North America Region to be Most Dominant
By region, the North America region accounted for $4,493.9 million in 2019 and is projected to dominate the global industry during the forecast period. The dominance of this region is mainly due to the presence of leading service providers which is encouraging consumers to adopt pest control services. In addition, the constantly increasing demand for pest control services, especially for termite from commercial & residential sectors to eliminate the property damage is estimated to propel the regional market growth in the projected timeframe.
Prominent 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
These players are implementing various business tactics and apply strategies to gain a strong hold in the global industry. For instance, Terminix UK Ltd., a leading provider of comprehensive range of pest control services, launched a unique ‘HomeBox’ pest control service for businesses and homes throughout the UK in April 2020.
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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