Rockville, Nov. 28, 2022 (GLOBE NEWSWIRE) — The global disaster restoration services market is projected to be valued at US$ 41.2 billion in 2023 and rise at a CAGR of 5.7% from 2023 to 2033. Market growth is driven by increasing incidence of natural disasters worldwide and rising awareness about the health effects of mold. Natural disasters such as earthquakes, flood, storms, and others lead to extensive damage to residential and commercial properties. This factor results in the demand for disaster restoration service providers who efficiently perform home repairs and cleaning up, and through tools ensure the development of a property in a way that could sustain future damages from natural disasters.
Regions prone to natural disasters are expected to see significant demand for disaster restoration services, such as the United States, China, Thailand, for example. Also, the market is expected to see significant demand with growing incidences of water damage and mold in properties causing allergies and other adverse illnesses.
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Key Takeaways from Market Study
- The disaster restoration services market is expected to be valued at US$ 80.1 billion by 2033.
- The market in East Asia is expected to rise at the highest CAGR of 6.5% during the forecast period 2023-2033.
- By end-use application, the residential sector is projected to hold a leading market share of 72%.
- The market registered a growth rate of 5.1% during the historic period (2018-2022).
“Unfavourable weather and climate change to decide fate of disaster restoration services market,” says a Fact.MR analyst.
Segmentation of Disaster Restoration Services Industry Research
- By Type :
- Fire Restoration
- Water Damage Restoration
- Storm Damage Restoration
- Mold Damage Restoration
- Flood Damage Restoration
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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The disaster restoration services market is highly fragmented with the impactful presence of market players, both local and international. These market players are observed taking rigorous action towards capitalizing on a large consumer base and enhancing their corporate footprint through tactics such as service launches and mergers. Market players are providing vivid services regarding disaster restoration and adopting modern tools such as moisture meters and others to stay ahead in the competition.
Key Companies Profiled
- 911 Restoration
- DKI Restoration
- Paul Davis Restoration
- Rainbow International Restoration
- Restoration 1
- ServiceMaster Restore
- The Paramedics of Property Damage
- Venturi Restoration
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global disaster restoration services market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (fire restoration, water damage restoration, storm damage restoration, mold damage restoration, flood damage restoration) and end-use application (commercial, residential), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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