Carpet and Upholstery Cleaning Services Market to register a growth of USD 2.13 billion at a CAGR of 4.23% | Increasing Construction Activities is a Key Driver | Technavio
NEW YORK, Feb. 10, 2022 /PRNewswire/ -- The carpet and upholstery cleaning services market is estimated to grow by USD 2.13 billion from 2020 to 2025, and the market's growth is anticipated to accelerate at a CAGR of 4.23%.
Factors such as the growth in the global construction industry and strategic partnerships among the vendors are supporting the carpet and upholstery cleaning services market growth positively.
Our research report on "Carpet and Upholstery Cleaning Services Market by End-user and Geography - Forecast and Analysis 2021-2025" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.
Carpet and Upholstery Cleaning Services Market Report Key Highlights
Estimated year-on-year growth rate in 2021: 3.90%
Key market segments: End-user (commercial and residential) and geography (North America, Europe, APAC, South America, and MEA).
Key Consumer Region & contribution: North America at 46%
Carpet and Upholstery Cleaning Services Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 4.23%
Market growth 2021-2025
$ 2.13 billion
Market structure
Fragmented
YoY growth (%)
3.90
Regional analysis
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 46%
Key consumer countries
US, China, Germany, India, Canada, and UK
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
ABM Industries Inc., Anago Cleaning Systems Inc., Atalian Servest Group Ltd., BELFOR Holdings Inc., Cleaning Services Group Inc., CleanNet USA Inc., Compass Group Plc, Crest Commercial Cleaning Ltd., DuraClean, Eco Group Services, ISS AS, Jani-King International Inc., Jan-Pro Franchising Inc., Johns Lyng Group Ltd., Pritchard Industries Inc., Red Coats Inc., ServiceMaster Global Holdings Inc., Stratus Building Solutions, Urban Co., and Vanguard Cleaning Systems, Inc.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Do reach out to our analysts for more customized reports as per needs. Speak to our Analyst now!
Carpet and Upholstery Cleaning Services Market Trend
Strategic Partnerships Among Vendors
Vendors operating in the global carpet and upholstery cleaning services market are focusing on developing new strategies to gain a competitive advantage and retain their dominant positions. Market players are engaging in mergers and acquisitions of new entrants or start-ups while offering innovative services through modern distribution channels instead of conventional brick and mortar setups. These collaborations among the various market participants are encouraging contract cleaning service providers and technology providers to maintain their market positions. This will further fuel the market growth positively during the forecast period.
Carpet and Upholstery Cleaning Services Market Challenge
Fluctuations in Labor Wages
The market has been witnessing continuous fluctuations in labor wages. Low labor efficiency due to prolonged underpayment is one of the key factors hindering this market's growth. Though governments are trying to address the issues by increasing labor wages, the temporary nature of employment under fixed-term contracts and a lack of benefits create conflicts between employees and the company. As a result, the constant changes in labor wages might impact the growth of this market adversely during the forecast period.
Get free sample for extensive insights on key market Drivers, Trends, and Challenges influencing the carpet and upholstery cleaning services market.
Key Market Vendors Insights
The carpet and upholstery cleaning services market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. For instance, ABM Industries Inc. offers solutions for carpet and upholstery cleaning services that can be a one-time project or for ongoing specialty services.
Some of the key market vendors are:
ABM Industries Inc.
Anago Cleaning Systems Inc.
CleanNet USA Inc.
Crest Commercial Cleaning Ltd.
DuraClean
Eco Group Services
Jani-King International Inc.
Pritchard Industries Inc.
ServiceMaster Global Holdings Inc.
Stratus Building Solutions
For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download free sample report
Key Segment Analysis by End-User
The commercial end-user segment held the largest carpet and upholstery services market share in 2020. The growth of this segment can be attributed to the increasing demand for cleaning services from offices, classrooms, movie theaters, hospitals, airports, restaurants, and shops. The demand for frequent cleaning services on a daily, weekly, and monthly basis from a range of industries in the commercial segment will continue to increase in the upcoming years.
Regional Market Analysis
North America emerged as the largest revenue-generating regional segment of carpet and upholstery services market. 46% of the market's growth will originate from North America during the forecast period. The increasing construction activities, high disposable income, and the emergence of new business establishments will facilitate the carpet and upholstery cleaning services market growth in North America over the forecast period. The US and Canada are the key markets for carpet and upholstery cleaning services in North America. China and Germany are other revenue-contributing economies to this market's growth during the forecast period.
Request our free sample for additional highlights and key segments that are expected to impact the market during the forecast period.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis are focused on emerging market trends and actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactsTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com
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