Portland, OR, March 25, 2020 (GLOBE NEWSWIRE) -- According to the report, the global pest management services market was estimated at $11.8 billion in 2018, and is expected to reach $19.0 billion by 2026, growing at a CAGR of 6.25% from 2019 to 2026. The report offers a detailed analysis of the drivers & opportunities, top investment pockets, top winning strategies, market size & estimations, competitive scenario, and changing market trends.
Frequent changes in climatic conditions, presence of many governing bodies across Europe, and ease in availability of pest management products are the major factors driving the growth of the global pest management services market. On the other hand, health threats related to pest control chemicals curtail down the growth to some extent. However, arrival of organic chemicals in pest management practices is expected to create multiple opportunities in the near future.
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The chemical segment to maintain the lion’s share-
By type, the chemical segment held nearly one-third of the total share of the total market share in 2018, and is anticipated to retain its dominance by the end of 2026. At the same time, the mechanical segment is projected to grow at the fastest CAGR of 7.0% during 2019–2026. The biological segment is also assessed in the report.
The insects segment to lead the trail till 2026-
By pest type, the insects segment accounted for nearly two-fifths of the total market revenue in 2018, and is expected to dominate throughout the forecast period. The rodents segment, on the other hand, would manifest the fastest CAGR of 7.6% by 2026. The termites segment is also analyzed in the market report.
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North America to dominate in terms of revenue-
By geography, North America garnered the largest share in 2018, contributing to nearly half of the global market. Simultaneously, the Asia-Pacific region would register the fastest CAGR of 8.2% during the study period. The other provinces discussed in the report include Europe and LAMEA.
Frontrunners in the industry-
The key players analyzed in the report include Dodson Pest Control, Bayer AG, Rentokil Initial plc, Lindsey Pest Services, Rollins, Inc., BASF SE, The ServiceMaster Company, LLC., FMC Corporation, Syngenta, Inc., and Ecolab. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.
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