Challenges and Opportunities in the Pest Control Service Market |...

Challenges and Opportunities in the Pest Control Service Market

Сообщение 2025-01-31 05:54:02

The global pest control service market size is estimated to reach USD 34.3 billion by 2030, registering to grow at a CAGR of 6.3% from 2024 to 2030 according to a new report by Grand View Research, Inc. 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 2024 to 2030. 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.

Gather more insights about the market drivers, restrains and growth of the Pest Control Service Market

Pest Control Service Market Report Highlights

• The commercial segment dominated the market in 2023. Commercial spaces have more rigorous health and safety rules, necessitating regular pest control to keep the environment healthy and free from pests.

• The residential segment is anticipated to grow at a significant CAGR over the forecast period.

• The insects segment dominated the market and accounted for a share of 42.4% in 2023. Insects such as mosquitoes and ticks can cause severe harm to human health and transmit diseases.

• North America pest control service market dominated the market with a revenue share of 48.1% in 2023.