Global Cleaning Services Market Anticipated to Garner $115,082.0 Million, Growing at a 6.3% CAGR in the 2022-2031 Timeframe [290-Pages] | Described by Research Dive

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26 May, 2023, 10:30 GMT

The global cleaning services market is expected to grow primarily due to the expansion of real estate investment. The commercial sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031

NEW YORK, May 26, 2023 /PRNewswire/ -- Global Cleaning Services Market Forecast Analysis:

As per the report published by Research Dive, the global cleaning services market is expected to register a revenue of $115,082.0 million by 2031 at a CAGR of 6.3% during the forecast period 2022-2031.

Segments of the Cleaning Services Market

The report has divided the cleaning services market into the following segments:

  • Service Type: window cleaning, vacuuming, floor care, janitorial services, carpet & upholstery, and other services
    • Janitorial Services– Highest market share in 2021
      Janitorial cleaning services are increasingly used to enhance their service delivery and improve customer experience, which is expected to boost the sub-segment in the 2022-2031 timeframe.
  • Application: commercial and residential
    • Commercial – Most profitable in 2021
      An increase in the number of commercial buildings, including offices, hospitals, clubs, and more, is expected to propel the sub-segment forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • North America – Significant market share in 2021
      Rapid urbanization and industrialization are driving up the demand for cleaning services, notably in the commercial and industrial sectors, which is predicted to propel the market in the forecast period.

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Dynamics of the Global Cleaning Services Market

The rise in the adoption of cleaning services in various industries is expected to make the cleaning services market a highly profitable one in the forecast period. Additionally, the growing need for effective cleaning solutions as the construction industry expands and grows in order to comply with safety and health requirements is predicted to propel the market forward. However, the intense competition in the cleaning services sector might become a restraint in the growth of the market.

Growing construction activities and increasing disposable income are predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, the growing need for environmentally friendly cleaning solutions as environmental standards become more strict around the world, is expected to propel the cleaning services market forward in the coming period.

COVID-19 Impact on the Global Cleaning Services Market

The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. However, the COVID-19 pandemic had resulted in modest development in the cleaning services market. The strict rules and sanitization requirements set by the government increased the need for disinfection and sanitization services. Moreover, the COVID-19 outbreak caused the majority of office buildings and other commercial structures to close, which helped the market share grow during the pandemic. These factors are projected to fuel the market growth amidst the pandemic.

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Key Players of the Global Cleaning Services Market

The major players of the market include

  • Analog Cleaning Systems
  • ABM Industries Inc.
  • Aramark Corporation
  • Cleannet
  • Chem-Dry
  • Jani-King International Inc.
  • The Servicemaster Company Llc.
  • Sodexo
  • ISS Facility Services Inc.
  • Pritchard Industries Inc

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in October 2021, PVR Cinemas, a Gurgaon-based multiplex chain in India, launched a specialized cleaning and disinfection solution for the commercial and residential sectors under the new business vertical V-Pristine.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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