Contract Cleaning Services Market size to grow by USD 164.45 million from 2022 to 2027, The rising number of residential buildings drives the market - Technavio

NEW YORK, Sept. 13, 2023 /PRNewswire/ -- The contract cleaning services market size is to grow by USD 164.45 million from 2022 to 2027, at a CAGR of 6.92%. according to the latest research report from Technavio. The rising number of residential buildings is notably driving the market growth. The growth of the contract cleaning services market is propelled by numerous such as the expansion of disposable income, swift industrialization, escalating urbanization, and the progressive surge in investments collectively fostering the growth of new residential construction endeavors. This surge in construction activities subsequently fuels demand for contract cleaning services. Furthermore, there is a mounting consumer inclination to maintain homes that are clean and devoid of dirt, grime, and allergens, further amplifying the need for contract cleaning services. The augmentation of household incomes, promising demographics, and shifting consumer preferences due to the persistent adoption of remote work options are driving an escalated demand for affordable housing in the US. Such factors, in turn, are poised to make a substantial contribution to the expansion of the contract cleaning services market throughout the forecast period.Discover Diversified Consumer Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View FREE Sample Report!

Company Landscape

The contract cleaning services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Companies Mentioned

• ABM Industries Inc.
• AIS Contract Cleaners Ltd.
• Anago Cleaning Systems Inc.
• Atlas Facilities Management Ltd.
• BELFOR Holdings Inc.
• Bonus Building Care
• Cleaning Services Group Inc.
• Crest Licensing Systems Ltd.
• Eco Group Services
• Ecoserv Group
• Extra Clean Inc.
• Harvard Service Group
• ISS AS
• Jani King International Inc.
• Nugent Contract Cleaning
• OCS Group International Ltd.
• Pritchard Industries Inc.
• QUALITY CARRIERS
• Sodexo SA
• Stratus Building Solutions

Company Offerings 

• ABM Industries Inc. - The company offers contract commercial janitorial services such as ABM GreenCare, Advanced Safety Management, and ABM OnePass. 
• AIS Contract Cleaners Ltd. - The company offers contract cleaning services for retail and office buildings. 
• Anago Cleaning Systems Inc. - The company offers contract commercial janitorial services such as protection and disinfection, sanitization, deep cleaning, and terminal cleans. 

For the market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View FREE Sample in minutes

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Key Market Segmentation

This contract cleaning services market report extensively covers market segmentation by end-user (commercial, industrial, and residential), service type (window cleaning service, carpet cleaning service, upholstery cleaning service, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).'

• The market share growth of the commercial segment will be significant during the forecast period. The commercial segment experiences substantial demand for contract cleaning services, particularly prevalent within the healthcare sector due to obligatory government cleanliness standards for healthcare establishments. A notable surge in contributions from the healthcare end-user segment is foreseen in the forthcoming years. Equally noteworthy is the hospitality industry's role as a significant end-user of contract cleaning services in the commercial sector. This prominence arises from substantial investments made by prominent hotel brands, particularly in emerging economies like India and China, along with numerous Middle Eastern nations. This trend is poised to drive the growth of the contract cleaning market during the forecast period.

View FREE Sample Report in minutes for more highlights into the market segments.

Regional Market Outlook

• North America is estimated to contribute 34% to the growth of the global market during the forecast period. 

For more key highlights on the regional market share of most of the above-mentioned countries.- View FREE Sample Report
 

Significant Contract Cleaning Services Market Trends

A key factor shaping the contract cleaning services market growth is an emerging trend shaping the market growth. 

Major Contract Cleaning Services Market Challenge

The significantly low penetration rate of contract cleaning services in developing economies is a significant challenge hindering market growth. 

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports: 

The industrial cleaning services market size is estimated to grow at a CAGR of 5.78% between 2022 and 2027. The market size is forecast to increase by USD 16.45 billion. This report extensively covers market segmentation by application (equipment cleaning, shop floor cleaning, public area cleaning, and window cleaning), end-user (manufacturing and commercial offices, pharmaceutical industry, oil and gas and petrochemical industry, food and beverage industry, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Increasing demand for less toxic substances for industrial cleaning driving the market growth. 

The cleaning services market share is expected to increase by USD 2.35 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.8%. This report extensively covers the cleaning services market segmentation by end-user (commercial and residential) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Rising health concerns at the workplace are one of the key factors driving the global cleaning services market growth.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Service Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio