Pest control services market to grow at a CAGR of 6.16% from 2021 to 2026|The increase in demand for insurance-based pest control services to drive the market growth -Technavio
NEW YORK, Nov. 30, 2023 /PRNewswire/ -- The pest control services market share is expected to increase by USD 7.81 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.16% according to Technavio.The increase in demand for insurance-based pest control services is driving the growth of the market. Significant costs associated with pest control services are fueling many market players to pose insurance-based pest control services for residential customers and commercial customers. The rising accessibility of specialized insurance policies will allow customers to control their expenses and access a reliable service provider. For instance, Anticimex offers insurance related to pests, wood-boring insects, and dry rot. Furthermore, several countries in Europe are choosing pest control insurance. In addition, to capture this growing demand, market players such as Anticimex had made an agreement with the insurance company IF to provide insurance services in Denmark and Finland. Hence, the rise in the demand for insurance-based pest control services will boost the growth of the pest control services market during the forecast period. Download a Sample Report Now!
Pest Control Services Market Insights -
- Vendors: 15+, Including Anticimex International AB, Aptive Environmental LLC, Arrow Exterminators Inc, Asante Co. Ltd., Dodson Pest Control Inc., Dynamic Sanito SEA Pte. Ltd, Ecolab Inc., Green Pest Solutions, Lifecycle Pest Control and Sanitization services, Lloyd Pest Control, Massey Services Inc., Pelsis Ltd., Rentokil Initial Plc, Rollins Inc., SANIX INC., SCOTTS PEST CONTROL, ServiceMaster Global Holdings Inc., Seva Pest Management Service Pvt Ltd, TECHMO HYGIENE SAS, University Termite and Pest Control Inc and among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: Application (General pest control and Termite control), End-user (Residential and Commercial), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)
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Pest control services market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
- For highlights on customer landscape analysis, download a sample!
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Anticimex International AB, Aptive Environmental LLC, Arrow Exterminators Inc, Asante Co. Ltd., Dodson Pest Control Inc., Dynamic Sanito SEA Pte. Ltd, Ecolab Inc., Green Pest Solutions, Lifecycle Pest Control and Sanitization services, Lloyd Pest Control, Massey Services Inc., Pelsis Ltd., Rentokil Initial Plc, Rollins Inc., SANIX INC., SCOTTS PEST CONTROL, ServiceMaster Holdings Inc., Seva Pest Management Service Pvt Ltd, TECHMO HYGIENE SAS, and University Termite and Pest Control Inc.
Leading Trend - Vendors engage in M&A to consolidate their positions in new markets. Nearly all major companies seek inorganic growth to diversify their services. Major market players and providers are investing heavily in the market through mergers and acquisitions (M&A). The entry of these players into emerging markets has increased awareness of the nature and quality of the services offered, thereby increasing demand for such vendors from new customers. For example, Rentokil initially acquired 42 pest control companies initially in 2018, adding local customers to his existing business. The company is focused on expanding its presence in the North American market. The company acquired 14 North American pest control companies in 2018. These acquisitions helped the company to grow by 9.5% in 2018. Another key vendor, Anticimex, acquired 34 companies in 2018. The rising number of acquisitions by key vendors is leading to pest control services market growth, with more acquisitions expected during the forecast period.
Significant Challenge - The increasing availability of DIY pest control products is hindering market growth. Owing to the easy availability of self-use pest control products the demand for DIY pest control products is rising. Furthermore, information and instructions on product use are easily available, particularly through online sources. Demand for do-it-yourself pest control products is growing among consumers, a particularly important revenue-contributing market segment. Several vendors of pest control products are selling their products through offline stores such as hypermarkets and supermarkets and through online retailers, including Amazon.com. The presence of a large number of organic DIY pest control products is also hindering the adoption of professional pest control services. Therefore, the rising accessibility of DIY pest control products is impacting the adoption of professional pest control services, which may impede the growth of the pest control services market during the forecast period.
Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!
The pest control services market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this pest control services market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the pest control services market between 2022 and 2026
- Precise estimation of the pest control services market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the pest control services market across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of pest control services market vendors
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TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Application
- market Segmentation by End-user
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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