Cleaning Services Market Growing at a CAGR of 6.2% - Analysis of Leading Market Players ABM Industries Inc., The Service Master Company, LLC, CleanNet, Anago Cleaning Systems, Aramark Corporation, Sodexo, Jani-King Inc., Stanley Steemer International, Inc

Growth in construction activities, increase in disposable income and hectic lifestyle of consumers have led to the growth of cleaning services market, worldwide. Commercial floor care has emerged to be a lucrative business segment, driven by its extensive usage in retail, health centers, and event venues.

Cleaning Services Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $74,299 million by 2022, registering a CAGR of 6.2% during the forecast period 2016-2022.Cleaning services market trends are expected to be progressive over the next few years.

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Asia-Pacific is expected to grow at the fastest pace during the forecast period and account for around 30% of the overall cleaning services market revenue by 2022. The growth is primarily driven by the upsurge in demand from China, Japan, and India.

Growth in number of dual income households, increased disposable income and rise in construction activities stimulate the growth of cleaning services market. However, intense competition among small and established players, to expand their market presence, is a major challenge for leading market players. Increase in number of working women and investment in real estate is expected to offer attractive opportunities for the growth of cleaning services market.

The cleaning services market is segmented by service type into commercial cleaning services (window cleaning, vacuuming, floor care, and other services such as kit cleaning and dusting) and residential cleaning services (maid services, carpet & upholstery, and other services such as polishing, vehicle cleaning, & appliances cleaning). Commercial cleaning services accounted for the highest revenue of $37,217 million in the overall cleaning services market size in 2015, owing to huge demand of construction & post-construction cleaning services. Construction industries require cleaning services primarily for debris cleaning and pressure washing. Residential cleaning services segment is anticipated to witness faster during the forecast period, owing to its growing popularity among dual income households.

Among the different cleaning services within the commercial segment, floor care accounted for the maximum revenue in 2015. Popularity of floor care services has increased in the global market, owing to increased demand from various commercial sectors such as schools, hospitals, and large retail sectors. Vacuuming cleaning services is anticipated to witness the fastest growth, with a CAGR of 6.2% during the forecast period, owing to its increased demand for dust cleaning from various commercial sectors such as stadium and event venues. Maid services accounted for the largest market share in the overall residential cleaning services market, while carpet & upholstery segment is expected to exhibit highest growth rate among the different services covered under residential cleaning services segments.

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North America is presently the largest cleaning services market, and is anticipated to continue its growth at a notable pace, owing to changing consumer lifestyle and growth in number of working women, majorly in the U.S. From a growth perspective, Asia-Pacific is anticipated to witness the fastest growth, surpassing the North American cleaning services market by 2019. The growth would be driven by the increase in demand from countries such as China, Japan, and India. Popularity of such services has increased due to rise in economy and escalation in construction of commercial and non-commercial buildings, which is one of the major growth factors. Moreover, increased disposable income of individuals and rise in awareness towards higher education of girls is expected to increase the demand for various cleaning services in the region.

Partnership is one of the most widely adopted key growth strategies by existing market players. For instance, companies such as Stanley Steemer International, Inc., Aramark Corporation and Jani-King Inc. made several partnerships to expand their market and product line. The key players profiled in the report are ABM Industries Inc., The Service Master Company, LLC, CleanNet, Anago Cleaning Systems, Aramark Corporation, Sodexo, Jani-King Inc., Stanley Steemer International, Inc., Chem-Dry, and Pritchard Industries Inc.

KEY FINDINGS OF THE CLEANING SERVICES MARKET STUDY

• North America accounted for the maximum revenue of the global cleaning services market in 2015, followed by Asia-Pacific.

• Asia-Pacific is expected to achieve the fastest growth rate from 2016 to 2022.

• In the year 2015, commercial cleaning services market segment generated the highest revenue in the global cleaning services market.

• Carpet & upholstery segment is anticipated to witness the CAGR in the overall residential cleaning services market, during 2016 - 2022.

• In the commercial cleaning market, vacuuming is expected to grow at the fastest rate during the forecast period.

Analyst Review:

North America is the largest cleaning services market. The cleaning services industry in the region is anticipated to continue growing at a notable pace, owing to factors such as hectic lifestyle of consumers and increase in dual income households. U.S. indicated an increased penetration of cleaning services in the region. According to OECD Employment and Labour Market Statistics, around 62% women in U.S. are self-employed, which has increased the demand for residential cleaning services in the region.

Asia-Pacific is the second-largest market in terms of cleaning services market size, owing to increased disposable income and urbanization. The Asia-Pacific region is anticipated to grow at the fastest rate in the near future owing to high disposable income of individuals and growth in construction activities in countries such as China. Popularity of cleaning services is higher in China, with the country holding the maximum cleaning services market share, in the overall Asia-Pacific region. However, countries such as Australia, Singapore, India, and others are expected to have relatively higher growth rates in the near future. The residential cleaning services is anticipated to witness impressive growth in the near future, owing to increase in number of working women. This would lead to an increased demand for various residential services such as maid services and appliances cleaning.

List of Figures

FIGURE 1. TOP WINNING STRATEGIES: PERCENTAGE DISTRIBUTION (2013 - 2016)
FIGURE 2. TOP WINNING STRATEGIES: NATURE AND TYPE
FIGURE 3. TOP INVESTMENT POCKETS IN GLOBAL CLEANING SERVICES MARKET, BY COMMERCIAL SERVICES
FIGURE 4. VALUE CHAIN ANALYSIS
FIGURE 5. PORTERS FIVE FORCES ANALYSIS
FIGURE 6. MARKET PLAYERS POSITIONING, 2015
FIGURE 7. TOP FACTORS IMPACTING GLOBAL CEANING SERVICES MARKET, 2015-2022
FIGURE 8. ATTRACTIVE OPPORTUNITIES
FIGURE 9. ATTRACTIVE OPPORTUNITIES
FIGURE 10. U.S.: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 11. CANADA: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 12. MEXICO: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 13. UK: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 14. GERMANY: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 15. FRANCE: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 16. REST OF EUROPE: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 17. CHINA: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 18. JAPAN: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 19. INDIA: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 20. REST OF ASIA-PACIFIC: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 21. BRAZIL: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 22. THE MIDDLE EAST: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 23. REST OF LAMEA: CLEANING SERVICES MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 24. ABM INDUSTRIES: COMPANY SNAPSHOT
FIGURE 25. THE SERVICE MASTER COMPANY, LLC: COMPANY SNAPSHOT
FIGURE 26. ARAMARK CORPORATION: COMPANY SNAPSHOT
FIGURE 27. SODEXO: COMPANY SNAPSHOT

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