Termite Control Products and Services Market Scope
Termite control products and services are the management and solutions of a variety of living organisms that negatively impact human activities as a result of ever-increasing urbanisation around the world. Termites have the potential to do a lot of damage to the property. Termites obstruct a variety of activities in the industrial, commercial, residential, and other sectors. Termite control services are utilised to get rid of these termites and keep home clean and healthy. Chemical control, mechanical control, and synthetic control are just a few of the Termite control services available. As a result of the rising demand for Termite control solutions around the world, there are considerable potential prospects for new competitors in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF (Germany), Bayer (Germany), Rentokil Initial (United Kingdom), Anticimex (Sweden), Ecolab, Inc. (United States), Rollins, Inc (United States), Orkin (United States), The ServiceMaster (United States), Spectrum Brands (United States) and The Specialists (South Africa) |
CAGR | 7.8% |
The demand for Termite Control Products and Services is increasing. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Players are expected to focus on the creation of new compounds, which would likely drive the worldwide market forward over the forecast period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Termite Control Products and Services market throughout the predicted period.
BASF (Germany), Bayer (Germany), Rentokil Initial (United Kingdom), Anticimex (Sweden), Ecolab, Inc. (United States), Rollins, Inc (United States), Orkin (United States), The ServiceMaster (United States), Spectrum Brands (United States) and The Specialists (South Africa) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Arrow Exterminators (United States), Massey Services (United States) and Bulwark Exterminating (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Termite Control Products and Services market by Type , by Application (Commercial & Industrial Sector, Residential Sector and Agriculture & Livestock Farms) and Region with country level break-up.
On the basis of geography, the market of Termite Control Products and Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2021 Rentokil Initial had announced the acquisition of Terminix. The acquisition will bring together two premier businesses with a deep cultural history, exceptional talent, and a strong focus on people, customers, and environmental sustainability. The enlarged company will have a strong development platform, notably in North America, as well as an appealing financial profile to enable future expansion.
In December 2023, Greenzone has launched Bifenthrin and Fipronil in its latest release of termite control products.2023 has been a big year in the expansion of the Greenzone product range. The year began with the additions of Termite Paint, Primer and Sealant and is now followed by the launch of two termiticide products: Greenzone Bifenthrin 100 Low Odour Termiticide and Insecticide (EC) and Greenzone Fipronil Residual Termiticide and Insecticide (SC).
Influencing Trend:
Rapid Development of Iot Technology in Termite Control Services and Upsurge of Biological Pest Control Solutions
Market Growth Drivers:
Rising Demand for Insurance Based Termite Control Services and Increasing Demand from Residential Sector
Challenges:
Rising Concerns Regarding the Levels of Toxicity in Pesticides and Over-Use of Toxic Pesticides and Growing Adoption of DIY Termite Control Product
Restraints:
High Cost of Termite Control Services
Opportunities:
Stringent Regulations for Food Safety and Increasing Awareness in Rural Sector
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners and End-use industries