Growth of the global pest control products and services market is specifically driven by a rapidly increasing urban population across the globe along with an increase in the pest population, attributed to the largely available food sources for small organisms and conducive living habitats.
New York, NY -- (SBWIRE) -- 05/16/2017 -- Persistence Market Research delivers useful insights on the global pest control products and services market in a new report titled, "Pest Control Products and Services Market: Global Industry Analysis and Forecast, 2016 - 2026". The global pest control products and services market is projected to be valued at US$ 28.6 Bn by 2026, exhibiting a CAGR of 5.4% over the next 10 years.
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Market dynamics
The prime factors powering the demand for pest control products and services are a rapid expansion of urban population across the globe, growing consumer awareness concerning health and hygiene, prevalent weather conditions supporting insect growth, a rapid increase in lifestyle expenditures, and rising international tourism. Increase in economic activities across the globe is also a positive factor favoring the growth of the global pest control products and services market. The implementation of stringent government regulations to limit levels of chemical toxicity and restrict the use of highly toxic pesticides to reduce their hazardous impact on public health and environment is one of the major restraints for the growth of the global pest control products and services market.
Market forecast
The global pest control products and services market is segmented on the basis of Product Type (Insecticides, Rodenticides, Other Chemical, Mechanical, Others); Application Type (Ants Control, Bedbug Control, Beetle Control, Bird Control, Mosquito & Flies Control, Cockroaches Control, Rat & Rodent Control, Termites Control, Others); Service Type (Chemical Control Services, Organic Control Services, Synthetic Control Services, Mechanical Control Services, Other Pest Control Services); End User (Agricultural, Commercial, Industrial, Residential); and Region (North America, Latin America, Europe, Asia Pacific, and MEA).
The Insecticides product type segment is expected to gain significant market share by 2026 and is estimated to increase 1.7X in terms of value between 2016 and 2026. The Cockroaches Control application type segment is expected to be valued at US$ 5,747.6 Mn by 2026, registering a CAGR of 5.1% between 2016 and 2026. The Chemical Control Services service type segment was valued at US$ 10.93 Bn in 2015 and is estimated to reach US$ 11.56 Bn by the end of 2016, reflecting a Y-o-Y growth rate of 5.8%. The Chemical Control Services service type segment is expected to continue to remain the most dominant segment in the market till the end of 2026. The Residential end user segment is expected to be valued at US$ 9,956.6 Mn by 2026.
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Among regions, North America is expected to remain the most dominant regional market in the global pest control products and services market. The North America pest control products and services market was valued at US$ 7,538.5 Mn in 2015 and is estimated to reach US$ 7,952.4 Mn by the end of 2016, reflecting a Y-o-Y growth rate of 5.5%. The Asia Pacific pest control products and services market is expected to be valued at US$ 5,964.2 Mn by 2026, registering a CAGR of 6.1% during 2016 – 2026.
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Competitive landscape
The global pest control products and services market report profiles some of the leading companies functional in the global pest control products and services market. Ecolab, Inc., Rollins, Inc., Rentokil Initial Plc., Service Master Global Holdings, Inc. (Terminix), Massey Services Inc., Arrow Exterminators Inc., Sanix Incorporated, Asante Inc., Dodson Brothers Exterminating Company Incorporated, Target Specialty Products, Pelsis Ltd., Killgerm Ltd., WinField Solutions LLC, and Univer Inc. are the top market players featured in the global pest control products and services market report. Some of these companies are focusing on expanding their geographical presence through operational expansion and strategic mergers and acquisitions.
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