by The global Mold Remediation Service Market is estimated to be valued at US$ 1,195.0 Mn in 2022 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 work to remove mold infestation that develops in homes, offices and other structures. Mold grows in areas with moisture issues and poses health risks. Proper mold removal and prevention of future growth is important for indoor air quality.
Market key trends:
The North America region is contributing a major share in the global mold remediation service market due to rising mold infestation issues caused by moisture accumulation in residential and commercial infrastructure in the region. Rapid infrastructure development and fluctuating weather conditions have increased mold proliferation risks. As per EPA, around 50% of US buildings have experienced mold growth. Stringent regulations regarding indoor air quality and increased health concerns are driving demand for professional mold removal services in the region.
Segment Analysis
The global mold remediation service market is segmented by method, service type, and application. Based on method, the market is segmented into chemical remediation, physical remediation, and biological remediation. The physical remediation segment dominates with a market share of over 30%, as physical removal of molds is a mandatory first step in any mold remediation project. Physical remediation methods can effectively eliminate visible molds on surfaces.
Key Takeaways
Global Mold Remediation Service Market Size is expected to witness high growth, exhibiting a CAGR of 3.9% over the forecast period 2023 to 2030, due to increasing awareness about health hazards of molds and stringent indoor air quality regulations. The market is estimated to reach US$ 1,195.0 Mn in 2022.
Regional analysis
In terms of region, North America dominates the global mold remediation service market. This is attributed to high commercial and residential construction activities and stringent regulations regarding indoor air quality in the region. The market in North America is expected to exhibit a CAGR of over 4.2% during the forecast period. Asia Pacific mold remediation service market is projected to witness fastest growth due to increasing construction activities and rapid urbanization in countries such as China and India.
Key players
Key players operating in the mold remediation service market are 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, Restoration Pro, RestoreMasters LLC, 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
