Rockville, March 02, 2023 (GLOBE NEWSWIRE) -- The Home Cleaning Services market is expected to grow at a 6.5% CAGR between 2023 and 2033, according to Fact.MR. By 2033, the global market for these products is expected to reach US$ 13.9 billion. According to Fact MR, a provider of market research and competitive intelligence, the global Home Cleaning Services market is rapidly growing and is expected to continue its growth trajectory in the coming years.
The home cleaning services market is being driven by a combination of demographic, economic, as well as cultural factors. As more people move into cities, the demand for home cleaning services increases. Urban dwellers typically have smaller living spaces, busy lifestyles, and higher disposable incomes, which make them more likely to use cleaning services. Hence, the increased urbanization is one of the major factors that is anticipated to boost the growth of the home cleaning services market over the analysis period.
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Key Takeaways from the Market Study
- In 2023, the global Home Cleaning Services market is estimated to have a global market size of US$ 7.4 Bn.
- The floor cleaning category is expected to have a 34% market share in 2023 and to dominate the global market from 2023 to 2033.
- The North American region is predicted to acquire a 30% global market share by 2023.
- The APAC region is forecast to have a CAGR of 24% over the forecast period of 2023- 2033.
“The increasing awareness and promotion on hygiene awareness, and growing demand for cleaning equipment in household activities are the major factors that are anticipated to augment the growth of the Home Cleaning Services market during the forecast period,” Comments a Fact.MR analyst.
Eminent Players
- ABM Industries Incorporated
- Anago Cleaning Systems Inc.
- Duraclean International Inc.
- Jani-King International Inc.
- Pritchard Industries Inc.
- ISS AS
- Sodexo Group
- Vanguard Cleaning Systems Inc.
- Stanley Steemer International Inc.
- The ServiceMaster Company LLC
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Competitive Landscape
Some prominent market developments are as follows:
- In July 2022, Gausium and Diversey-TASKI entered into a multi-year global partnership, which is aimed to provide complete process and machine integration for customer sites globally, unlocking the full potential of cleaning robotics with cutting-edge cleaning knowledge, tools, as well as intelligence.
- In October 2022, with a five-year deal, SBFM plans to provide a full range of commercial cleaning services to PureGym, the largest gym operator in the United Kingdom, at all its UK locations. The contract began on September 1, 2022, and SBFM and PureGym have their main offices in Leeds.
- Trivest Partners and Three20 Capital Group, in March 2022, entered into a joint venture partnership in Office Pride Commercial Cleaning Services. Office Pride, one of the commercial cleaning franchise systems in the United States with the quickest growth, announced its development goal to reach 300 units and USD 300 million in system sales.
Market Prospects
As people become increasingly busy with work and other commitments, there is less time available for household chores. This has led to a growing demand for home cleaning services, as people seek to simplify their lives. Thus, busy schedules of people nowadays, is another major factor that is likely to fuel the sales of the home cleaning services.
Additionally, the advent of COVID-19 pandemic has heightened awareness of the importance of maintaining a clean as well as hygienic living environment. This has led to an increased demand for home cleaning services, as people seek to reduce the risk of exposure to harmful pathogens. Therefore, the growing concern for health and hygiene is also expected to accelerate the sales of the home cleaning services in the near future.
An increase in disposable income is one of the major factors that is anticipated to propel the market growth during the forecast period. As incomes rise, more people are able to afford home cleaning services. This has led to a growing demand for these services, as people seek to improve their quality of life.
Technological advancements in the development of new cleaning technologies and products, has made it easier for cleaning service providers to offer high-quality services. This has led to an increase in demand for home cleaning services, as people seek to take advantage of these advances.
Furthermore, there is a growing awareness of the importance of reducing waste and promoting environmental sustainability. This has led to an increase in demand for home cleaning services that use environmentally friendly products and practices. These factors are expected to augment the market growth prospects in the forthcoming years.
Key Segments Covered In the Home Cleaning Services Industry Report
- By Services :
- Floor Cleaning
- Window Cleaning
- Carpet Cleaning
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global cheddar cheese market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on Home Cleaning Services market analysis by services (floor cleaning, window cleaning, carpet cleaning, and others), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).
Key Questions Covered in the Home Cleaning Services Market Report
- What is the projected value of the Home Cleaning Services Market in 2023?
- At what rate will the global Home Cleaning Services Market grow until 2033?
- Which are the factors hampering the growth in the Home Cleaning Services Market?
- Which region is expected to lead in the global Home Cleaning Services Market during 2023 to 2033?
- Which are the factors driving the Home Cleaning Services Market during the forecast period?
- What is the expected market value of the Home Cleaning Services Market during the forecast period?
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