Acquisitions & mergers and development of new technologies have become a major trend in the global pest control services market
Major players in the market are focused towards enhancing their presence and expanding their customer base through strategic mergers and acquisitions. The major players in the pest control service market are moving forward to develop new technologies and products for the benefit of the customers. Demand for pest control services such as heat treatment and exterminator services, especially for bedbug and ant control, is increasing in the U.S. This is mainly attributed to growing population of bedbugs and other pests such as ants, due to conducive weather conditions for their propagation in the region.
Pest control service providers are concentrating on replacing toxic pesticides with bio-based pesticides or herbicides to offer eco-friendly pest control services in order to ensure adherence to stringent government regulations. Besides, end users such as hotels and mining industry in the commercial and industrial sectors are increasingly inclined towards pest control services, especially for rats & rodents prevention.
Regions such as Germany and Scotland are major regions in the Western Europe for brewing industry and very attractive place for pests and insects. The by-products of brewing such as dried yeast are liable for severe infestation for spider, beetles and cockroaches. These pests spread infections by laying eggs and also dangerous for barley and malt. Thus pest control services have become mandatory in brewing industries and would also witness a growth in future as demand for high quality alcohol is gradually rising among the consumers.
The region Asia-Pacific is still a developing region due to which new industries are emerging and existing industries are developing themselves on higher scale. In the development process, the factory yields or the discards are not treated and disposed of properly, which leads to water blockage and road blockage, resulting infections and growth of insects and pests which can harm the human and spread infectious diseases. In order to maintain and control the growth of pests, pest control services are needed
With more than 65% share, insects control segment dominates the global pest control services market
The segment is estimated to be valued more than US$ 11 Bn by 2017 end, and is expected to increase at a CAGR of 5.0% over the forecast period. The segment is expected to be valued little more than US$ 18 Bn by the end of 2027, creating absolute $ opportunity of more than US$ 550 Mn in 2017 over 2016 and an incremental $ opportunity of more than US$ 7,300 Mn between 2017 and 2027. Insect control segment is estimated to account for relatively high value share of more than 65% by 2017 end. In insects control segment, ant control segment is expected to create significant incremental opportunity in the market over the forecast period.
Global Pest Control Services Market: Overview
The global pest control services market is anticipated to exhibit significant growth rate over the forecast period. Revenue from the global pest control services market was valued at more than US$ 16 Bn in 2016. By 2027 end, global pest control services market is expected to reach a value of more than US$ 28 Bn expanding at a CAGR of 5.1% over the forecast period.
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