Improved online presence and growth in demand among commercial consumers drive the growth of the global cleaning services market.
According to the report, the global cleaning services industry generated $55.71 billion in 2020, and is anticipated to generate $111.49 billion by 2030, witnessing a CAGR of 6.5% from 2021 to 2030.
Prime determinants of growth
Improved online presence and growth in demand among commercial consumers drive the growth of the global cleaning services market. However, intense competition hinders the market growth. On the other hand, demand for construction and post-construction cleaning services presents new opportunities in the coming years.
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Leading Market Players:-
- ABM Industries Inc.
- The Service Master Company, LLC
- Anago Cleaning Systems
- Aramark Corporation
- Jani-King Inc.
- Stanley Steemer International, Inc.
- Pritchard Industries Inc
- The outbreak of the Covid-19 pandemic positively has impacted the growth of the global cleaning services market positively.
- Household cleaning services have become an essential thing due to spread of coronavirus. Furthermore, the governments of numerous countries have released a number of SOPs/guidelines that firms must follow in order to reduce the risk of subsequent waves of the existing pandemic.
- This trend is likely to be continued in the post-COVID era too.
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The floor care segment to maintain its leadership status throughout the forecast period
Based on type, the floor care segment held the highest market share in 2020, accounting for more than one-fifths of the global cleaning services market, and is estimated to maintain its leadership status throughout the forecast period. The growth in this segment is attributed to the rising demand for high-end cleaning products, growing demand of cleanliness in office and home premise. Moreover, the maid services segment is projected to manifest the highest CAGR of 7.2% from 2021 to 2030, owing to growth in the sales of home décor items such as rugs, carpets, furniture and more among others.
The commercial segment to maintain its lead position during the forecast period
Based on end user, the commercial segment accounted for the largest share in 2020, contributing to more than two-fifths of the global cleaning services market, and is projected to maintain its lead position during the forecast period. This is due to rise in the number of commercial premises such as offices, hospitals, clubs and more among others. Moreover, the residential segment is expected to portray the largest CAGR of 4.5% from 2021 to 2030, owing to increasing in working hours coupled with growing trend of cleanliness among house owners.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue in 2020, accounting for nearly one-third of the global cleaning services market. The growth can be attributed to the highly developed channels of distribution, which encourages large sale of consumer good in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.4% from 2021 to 2030, owing to improvement in the infrastructure and convenience in setting up new businesses.
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