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- Report code : CMI-902
- Industry : Agrochemicals
- Published On : Dec 2018
- Pages : 147 Pages
- Format :
Press Release: Pest Control Services Market to surpass US$ 24,105.7 Mn by 2026
Press Release: Pest Control Services Market to surpass US$ 24,105.7 Mn by 2026
Global Pest Control Services Market – Insights
Pest control is the management and regulation of a variety of living organisms that adversely impact human activities. Pests such as cockroaches and termites hinder several agricultural, commercial, industrial, and residential activities. Pest control services performed to eliminate these pests in order to ensure hygiene and good health. Pest control services include, chemical control, mechanical control, and synthetic control among others.
Among region, North America is expected to hold dominant position in the global pest control services market. The U.S. Department of Agriculture (USDA) actively focuses on pest research and control programs and actively funds for pest control projects. For instance, in 2014, USDA approved US$ 48.1 million in Farm Bill for the projects aimed at preventing the introduction or spread of invasive pests.
Moreover, growing tourism industry in the U.S is one of the major factors driving growth of the pest control services market in the region. This is owing to increasing demand for hygienic stays. According to the data published by the World Travel & Tourism Council, the U.S travel & tourism industry contributed US$ 1,501.9 billion in 2017, which was 7.7% of the U.S GDP.
However, pest management is regulated by the U.S Environmental Protection Agency (EPA) and regulatory clearance and approval procedures from the government, EPA, and other health organizations is a time consuming procedure. Moreover, firms offering pest control services in the U.S must be licensed by the particular state. Therefore, time constraints, scheduling conflicts, stringent regulatory clearance, and lengthy approval procedures are some of the factors restraining the market growth.
Global pest control services market was valued at US$ 16,179.8 Mn in 2017 and is projected to increase to US$ 24,105.7 Mn by 2025, witnessing a CAGR of 5.1% over the forecast period.
Figure 1. Global Pest Control Services Market Revenue Share (%), By Region, 2017
Source: Coherent Market Insights, 2017-18
Among end-use industries, commercial segment is expected to witness significant growth in the global pest control services market owing to growing construction industry that leads to increasing demand for wood for furniture. According Construction statistics released by office of national statistics in Great Britain (August 2018), the value of new construction work continued to grow in Great Britain reaching £109,387 million in 2017 from £100,000 million in 2016. Moreover, the infrastructure segment is expected to witness significant growth in Asia Pacific due to economies such India. According to India Brand Equity Foundation Report on infrastructure, June 2018, the Union Budget of the Government of India for 2018-19 allocated US$ 92.22 billion for the infrastructure sector. Growing infrastructure and construction sectors are expected to propel demand for wood furniture, which is in turn expected to drive growth of the pest control services market over the forecast period.
Players operating in the global pest control services market are focused on adopting various growth strategies to cater to increasing demand for pest control services. Several pest control companies offer insurance to consumers against pest control services. For instance, Western Exterminator Company Inc. provides termite home protection plan, which acts as a warranty against termite attack. The warranty offers replacement of structural timbers in homes that are damaged by termites. .
Furthermore, manufacturers are focused on developing novel technologies for controlling pest infestation, which is a key factor driving growth of the pest control services market. For instance, in June 2018, Terminix launched Quick Guard Mosquito Service, to quickly combat mosquitoes in homeowners’ yards. The treatment uses an integrated pest management approach and features a fast-acting, effective pesticide that has been tested in the most challenging mosquito environments.
Figure 2. Global Pest Control Services Market Revenue Share (%), By End-use Industry, 2017
Source: Coherent Market Insights, 2017-18
Major players operating in the global pest control services market include, BASF SE, Bayer AG, Syngenta AG, DOWDUPONT Inc., FMC Corporation, Rentokil Initial Plc., Ecolab Inc., Bell Laboratories, Inc., Rollins, Inc., and The Terminix International Co. Ltd.
Pests are known to contaminate the environment and spread diseases such as Hantavirus, Plague, Salmonella, and rat bite fever. The most widely used techniques for pest control include, poisoned baits, chemical repellents, and traps. Government and other non-government organizations are focused on increasing awareness related to pest control management. For instance, the National Pest Management Association (NPMA), a non-profit trade association founded in 1933, in the U.S, supports the pest management industry's commitment to protect public health, food, and property, by creating hygiene awareness among people.
Market Dynamics
Among region, North America is expected to hold dominant position in the global pest control services market, owing to growing awareness programs related to pest control in the region. The U.S. Environmental Protection Agency (EPA) encourages pest prevention through various awareness programs. Through EPA’s website, it creates awareness among the populous for pest ecology and biology, pest infection and prevention, treatment methods, and it also provides information regarding government initiatives for pest control. Through its website, EPA creates awareness among the populace regarding pest ecology and biology, pest infection and prevention, and treatment methods.
Several emerging economies such as India and China majorly rely on agriculture. According to India Brand Equity foundation report on agriculture and allied services, (April 2018), food grain production in India increased to 275.68 million tons in FY17 from 253.16 million tons in FY16. Use of pest control services is necessary to eliminate pests that may hinder agricultural production. Therefore, increasing demand for pest control services from agricultural sector is expected to boost the market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 35 market data tables* and 28 figures* on "Pest Control Services Market” - Global forecast to 2026.
Asia Pacific Intelligence Center (India): 