by The global Mold Remediation Service Market is estimated to be valued at US$ 1241.61 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mold remediation services involve removal of mold from buildings or other structures through cleaning and disinfection. They help protect health by eliminating exposure to mold and mold spores that can cause allergies, asthma and other respiratory problems.
Market key trends:
The rising incidences of mold and moisture issues in commercial and residential buildings due to factors such as floods, storms, poor construction and aging infrastructure is a key trend fueling the growth of the mold remediation service market. According to the Environmental Protection Agency, damp and humid indoor environments encourage mold growth. With changing weather patterns resulting in extreme weather events, mold problems in buildings have become widespread. This has increased the demand for professional mold inspection and remediation services. Additionally, growing awareness about health impacts of mold is also driving consumers to opt for timely mold removal services. The mold remediation service market is witnessing high growth owing to increasing mold infestation in residential and commercial properties. Mold occurs due to excess moisture and can cause health issues if not treated on time. Thus, there has been a rise in demand for professional mold inspection and removal services across the globe. Furthermore, factors such as changing weather patterns resulting in heavy rainfall and floods, increasing construction activities are also contributing to the growth of this market.
SWOT Analysis
Strength:
– Growing health concerns regarding mold infestation is creating high demand for these services
– Availability of advanced mold detection and removal techniques
Weakness:
– Lack of skilled professionals in some regions
– High cost of services hampers mass adoption
Opportunity:
– Rising mold issues due to climate change creates prospects for market growth
– Increasing construction activities in developing nations provide new business avenues
Threats:
– Presence of local unorganized players offering services at low cost
– Limitations of certain mold removal techniques in case of severe infestation
Key Takeaways
The global mold remediation service market is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing prevalence of mold infestation in residential and commercial properties owing to climate change.
Regionally, the market in North America dominates currently owing to occurrence of hurricanes and floods. Asia Pacific is expected to exhibit fastest growth over the coming years led by increasing construction activities and rising consumer awareness in major countries like China and India.
Key players operating in the mold remediation service market include 911 Restoration, ADU (All Dry USA), AdvantaClean, All US Mold Removal, ASAP Restoration, LLC, BELFOR, COIT Pro, Flood Pros USA, GIORDANO RESTORATION, IDC, Mold Zero, Paul Davis Restoration, Inc., PuroClean, RestoreMasters LLC, Restoration Pro, ServiceMaster Restore, SERVPRO, Snyder Environmental, South Florida Water and Mold Restoration, Inc., Taylored Restoration.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
