Rising health issues boost Mold Remediation Service Market

The global Mold Remediation Service Market is estimated to be valued at US$ 1241.61 Bn 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 service involves removal of mold from damp areas to protect health of occupants. It prevents respiratory issues, asthma, and allergies caused due to mold growth. Professional inspection and certified remediation restores structural integrity by eliminating sources of moisture.

Market key trends:

Water damage restoration has emerged as the fastest growing service segment due to increased frequency of floods and hurricanes worldwide. Flood events cause extensive damage leading to higher demand for professional mold remediation to remove damp materials and treat affected structures. Adoption of non-toxic biodegradable products and focus on Indoor Air Quality (IAQ) are also gaining traction in the market. Implementation of stringent regulatory guidelines regarding health standards is further expected to drive the mold remediation service market growth over the forecast period.

Segment Analysis

The global mold remediation service market is segmented by type into detection, cleaning and prevention segment. The cleaning segment is expected to hold the largest share of the market. This is due to increasing awareness about the health issues caused by mold infestation and need for thorough cleaning to prevent future growth of mold. The cleaning process involves complete removal of mold infested materials such as walls, ceilings, carpets, fabrics and air duct cleaning to ensure no traces of mold are left behind.

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 health concerns related to mold exposure.

Regional analysis

North America is expected to dominate the regional segment, with the highest market share. The growth in the region is attributed to factors such as strong regulatory framework about indoor air quality and frequent occurrence of natural calamities causing water damage and subsequent mold growth.

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, RestoreMasters LLC, ServiceMaster Restore, SERVPRO, Snyder Environmental, South Florida Water and Mold Restoration, Inc., Taylored Restoration. The major players focus on implementing various organic and inorganic growth strategies such as mergers & acquisitions, partnerships, expansions, and new product launches to strengthen their postion in the market.

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