Pests are considerably smaller beings that are known to cause a lot of damage to human property. These creatures mostly dwell underground or tend to dig their way into other objects. One of the most common ones found are termites – found in most wooden objects such as doors as well as furniture. The tiny species of ants burrow through the wood, eventually making it weaker leading it to break or see immense damage. Many professionals have over time found a way to neutralize the effect of these pests using different equipments and chemical mixtures. These services are found all throughout the globe and are highly effective in making homes and the surroundings pest proof.
Consequences of COVID-19 on the Industry
The widespread effect of the pandemic was felt by every industry worldwide including the pest control service market. The disruption of the supply chain caused a considerable drop in the sales, but this soon changed. Upon the various countries going back to normal functioning, housing societies started demanding for pest control services after a long gap of facilities being non-functional. Many key players, along with pest control, also offered sanitization services to their customers in view of the COVID-19 effect. These factors gradually helped the industry to recover immensely in terms of profits and sales.
Key Developments in the Industry
Many industry experts have been working on several innovations and experiments to ensure better results of their pest control services which can also last longer. These initiatives have been helping the pest control service market grow even better.
In December 2020, American Pest, a provider of Integrated Pest Management (IPM) solutions along with excellent customer service, acquired Intrastate Pest Control Co. and its sister company, Valley Termite and Pest Control, LLC, a pioneer in a more ecological way of managing pest control in the case of mice, bugs, termites, and more. The primary goal of both the organizations, through this merger is to provide excellent service to the customers and making their homes safer to live in.
Similarly, another firm with a goal to make living spaces pest free, witnessed a merger that expanded its services beyond the boundaries. In January 2021, Rentokil, one of the leading organizations known for their advanced pest control techniques and services, acquired over eight new companies in the U.S. This move has helped the organization gain a strong foothold in over 15 states currently. This move also helped in adding over 900 employees into the organization, which is expected boost the growth of the company further.
Two years later, in March 2021, Terminex, one of the largest providers of pest control in the world, acquired Pest Solutions, a Portland, Oregon, based organization that boasts of an eco-friendly approach in pest control. This collaboration is predicted to boost their extensive growth in the Portland market but with a ‘Green As Can Be’ approach.
Forecast Analysis of the Global Pest Control Service Market
A recent report published by Research Dive states that the global pest control service market is expected to gain revenue of over $12,478.0 at a stable CAGR of 5.4% by 2027. The North American region has played a vital role, in adding on to the growth of the market. Many areas in the world face an immense risk of illnesses such as dengue, Zika Virus fever, tick-borne encephalitis and more. These are caused due to the mosquitoes and other smaller pests that may seem harmless, but do more damage than others. Various organizations have come up with innovative methods such as the utilization of drones to spray pest repellent while controlling the spread of pests to various areas. Additionally, many globally renowned firms such asEcolab, Rollins, Inc., Anticimex, Aptive Environmental, Cook’s Pest Control, Rentokil Initial plc, The Terminix International, SERVICES, INC., ABC Home & Commercial Services, and Home Paramount Pest Controlhave been working on even more means to enhance their pest control services further in the form of new product launches, mergers, partnerships and more.
Various technical experiments and advancements have led to quick and effective solutions for pest infestations. Though some guidelines may prove to be a minor limitation, the constant need to make homes safer to live in has added to the demand for pest control services, which in turn is helping the market grow further.