The global pest control products and services market is expected to exhibit a healthy CAGR of 5.4% accounting for US$ 28.6 Bn in the forecast period from 2016 to 2026, according to a recent report from Persistence Market Research.
New York, NY -- (SBWIRE) -- 11/23/2016 -- Globally, the market growth of pest control products and services is driven by a quickly growing urban population worldwide beside surge in the pest population, mainly attributed towards accessible food sources for conducive living habitats and small organisms. In developed as well as developing countries, increasing awareness about health & hygiene among consumer is further boosting the market demand of pest control products and services. Also in various countries, growing demand for pesticides due to rise in rates of pest infestation rates and the favorable weather conditions are some factors anticipated further fuel the market demand worldwide. Moreover, international tourism is also becoming a prominent and an upcoming factor helping in market growth of various pest control products and services.
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To reduce the hazardous impact of highly toxic pesticides on environment as well as on health, their usage is restricted and to limit the level of chemical toxicity, stringent government rules are implemented. These factors are globally hampering the market growth of pest control products and services.
Globally, the segmentation of pest control products and services market has been done based on product, application, service, end user and regions. On the basis of product, the global market of pest control products and services is classified as chemicals, insecticides, mechanical and rodenticides. Among these, the segment of insecticides is projected to exhibit highest market share and in terms of value will rise 1.7X times by the end of 2026.
Based on application type, the global market of pest control products and services is segmented into Cockroaches Control, Bedbug Control, Bird Control, Termites Control, Ants Control, Rat & Rodent Control, Beetle Control and Mosquito & Flies Control. Among these, during the forecast period, the segment of the Cockroaches Control application is estimated to account for US$ 5,747.6 Mn by the end of 2026, exhibiting a healthy CAGR of 5.1%.
Based on service type, the global market of pest control products and services is segmented into Organic Control Services, Mechanical Control Services, Chemical Control Services, and Synthetic Control Services. Among these, the segment of the Chemical Control Services is projected to expand up to US$ 11.56 Bn by 2016 end and will dominate the market throughout the forecast period.
Based on end user type, the global market of pest control products and services is segmented into Industrial, Agricultural, Residential and Commercial. Among these, the segment of the Residential is estimated to account for US$ 9,956.6 Mn by the end of 2026.
Regionally, the global market of IT infrastructure monitoring is classified as the MEA, North America, Europe, Latin America, and Asia Pacific. During the forecast period, North America is projected to dominate the market throughout the forecast period. This segment will account for US$ 7,952.4 Mn by the 2016 end, registering a year over year growth rate of 5.5%. While the segment of the Asia Pacific region is estimated to account for US$ 5,964.2 Mn by the end of 2026, exhibiting a CAGR of 6.1% over the forecast period.
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Some of the key leaders operating in the global market of imaging technology include Rentokil Initial Plc, Arrow Exterminators Inc, Asante Inc, Target Specialty Products, WinField Solutions, 4Ecolab Inc, Killgerm Ltd, Rollins Inc, Service Master Global Holdings, Inc. (Terminix), Massey Services Inc, Sanix Incorporated, Dodson Brothers Exterminating Company Incorporated, Pelsis Ltd and Univer Inc.