Global cleaning services market expected to hit $74.3B by 2022
PORTLAND, OR — Allied Market Research’s new report on the professional cleaning industry predicts the overall cleaning services market to grow at a compound annual growth rate of 6.2 percent between 2016 and 2022, ultimately reaching $74.299 billion annually. Overall growth in the is attributed to an increase in dual-income households, disposable income and construction activities.
The report, titled “Cleaning Services Market-Global Opportunity Analysis and Industry Forcasts,” segments the industry by service type into commercial, including floorcare and janitorial services, and residential, including carpet and upholstery and residential cleaning services. Commercial services accounted for the highest revenue at more than $37 million, while residential services is expected to see faster growth during the period.
Among the different commercial services, floorcare continues to account for the highest revenue and continues to grow globally. Among residential cleaning services, carpet and upholstery cleaning is expected to exhibit the highest growth rate over the forecast period.
While North America remains the largest market and is expected to maintain steady growth over the period, the Asia-Pacific market is expected to see the fastest growth over the period, accounting for approximately 30 percent of the market by 2022 and ultimately surpassing the North American market by 2019. Increased disposable income in Asia-Pacific countries, most notably China, Japan and India, will drive this growth.
The report named the following key players, among others, in the industry: Stanley Steemer International, ServiceMaster, Chem-Dry, ABM Industries, Anago Cleaning Systems and Aramark Corporation.