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Pest Control Service Market Worth USD 28.1 Billion By 2027 Growing At A CAGR Of 4.5% | Grand View Research, Inc.

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Pest Control Service Market Worth USD 28.1 Billion By 2027 Growing At A CAGR Of 4.5% | Grand View Research, Inc.

July 30
03:42 2021
Pest Control Service Market Worth USD 28.1 Billion By 2027 Growing At A CAGR Of 4.5% | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, Growing economic activities, increasing population, and the effects of insects, coupled with intolerance for pests, are fueling the market growth.

The global pest control service market size is anticipated to reach USD 28.1 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.5% from 2020 to 2027. Changing climate and rise in temperature are acting as major catalysts for the rising demand for pest control services. Other factors such as increasing commercial and residential projects and intolerance for pests are fueling the market growth.

Moreover, the increasing popularity of the usage of biocides is supporting market growth. Factors such as environmental friendly nature and replacement for traditional pesticides are increasing the product demand. For instance, Rentokil has registered CO2 for use in the control of rodents under EU biocidal regulations. The company is continuing to work in the areas of insect and rodent control.

Companies in the market are focusing on strategies, such as mergers and acquisitions, in order to gain market share and increase their service footprint. For instance, as per The Potomac Company, in 2018, Rentokil, ServiceMaster, and Rollins have spent USD 359, 254, and 77 million, respectively on pest control acquisition. In 2019, Rentokil Initial PLC had carried out 41 acquisitions in 23 countries. The company had acquired 30 pest control, 8 hygiene, and 3 Ambius businesses, generating annualized revenues in the year prior to purchase of USD 155.2 million (Euro 137 million). The company has carried acquisitions in Australia, Brazil, Canada, Chile, Colombia, Costa Rica, Dominican Republic, Dutch Antilles, Finland, France, Greece, Indonesia, Malaysia, Peru, Poland, Spain, Tanzania, Thailand, the U.K., and the U.S. Moreover, the company has entered new markets of Jordan, Sri Lanka, and Uruguay.

In terms of application, the commercial segment is estimated to expand at the fastest CAGR from 2020 to 2027. The growing commercial sector, coupled with strict rules and regulations, is acting as a major factor for the segment growth. Moreover, businesses have a multiyear contract with the service providers, leading to continuous revenue generation for the contract holding companies.

The insect segment dominated the market with a revenue-based share of 42.0% in 2019. As per a research conducted by the National Pest Management Association (NPMA), in 2018, 97% of the pest professionals have treated bed bugs, 69% of them said that the overall bed bug service was effective, and 66% said that the demand for these services is increasing. Moreover, 89% of pest professionals encountered bed bugs in apartments/condominiums, 68% in hotels/motels, 59% in nursing homes, 46% in office buildings, 45% in college dorms, and 36% in hospitals.

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/pest-control-services-market

North America dominated the market with a revenue-based share of 48.3% in 2019. As per a report published by Rentokil, in 2018, 29% of all Americans have, at some point experienced a rodent pest issue, 35% in the Northeast. Moreover, 80% of U.S. hotels and motels reported some presence of bed bugs in the past year. Yellow fever mosquito is now found in 23 U.S. states – West Nile, Dengue, and Chikungunya viruses are now present in the U.S. 

Pest Control Service Market Report Highlights

 The commercial application segment is expected to witness the fastest growth from 2020 to 2027

The insect end-use segment was valued at USD 8.3 billion in 2019

Asia Pacific is expected to witness the fastest growth over the forecast period with a revenue-based CAGR of 5.3% from 2020 to 2027.

For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/pest-control-services-market/request/rs15

Pest Control Service Market Segmentation

Grand View Research has segmented the global pest control service market by application, end-use, and region:

Pest Control Service Application Outlook (Revenue, USD Million, 2016 – 2027)
    • Residential
    • Commercial

Pest Control Service End-use Outlook (Revenue, USD Million, 2016 – 2027)
    • Insect
    • Rodents
    • Termite
    • Mosquito
    • Others

Pest Control Service Regional Outlook (Revenue, USD Million, 2016 – 2027)
     North America
        • The U.S.
    • Europe
        • Germany
        • The U.K.
        • France
    • Asia Pacific
        • Japan
        • Australia
    • Central and South America
        • Brazil
    • Middle East & Africa

List of Key Players of Pest Control Service Market
    • Rentokil Initial PLC
     Rollins, Inc.
     ServiceMaster Global Holdings, Inc.
     Anticimex Group
     Arrow Exterminators Inc.
     Asante Inc.

Fill The Pre-Order Enquiry Form For The Report @ https://www.grandviewresearch.com/inquiry/450757/ibb

 

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/pest-control-services-market