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Termite Bait Systems Market by Termite Type, Station Type, Application And Region - Global Forecast to 2023

Termite Bait Systems Market: Global Forecast until 2023

  • August 2018
  • 131 pages
  • ID: 5490279
In this report:
According to the Commercial Buildings Energy Consumption Survey (CBECS) study in 2016, there has been an exorbitant growth in the number of commercial buildings and floor space, wherein commercial buildings have risen by ##% since 2003, and an increase of ##% was observed in floor space.
The residential segment was the second-largest, which was valued at USD ##.## million in 2017; it is projected to grow at the highest CAGR of ##.##% during the forecast period due to the growing housing market and residential constructions which are expected to increase demand.

Summary

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The termite bait systems market is estimated to rise at a compound annual growth rate of ~5.6 percent from 2018 to 2023.

The termite bait systems market is projected to be $260.80M in 2018 and is projected to extend $342.50M by 2023 at a Compound annual growth rate of ~5.6 percent from 2018. The termite bait systems market is expected to grow at a steady rate due to Elements such as the growing demand for environment-friendly termite control products together with climate change. The main factors restraining the increase of the termite bait systems market are the high initial investment, lack of awareness, and low adoption rate, especially in the developing countries.

The subterranean termites segment is estimated to be the quickest-rising from 2018 to 2023.

Subterranean termites are the most prevalent termites as distinguished to other termite types.These termites cause main property damage, globally.

Use of in-ground termite bait stations is one of the most common methods, especially in the developed countries where there are restrictions in using different toxic termiticides. On top of, quick urbanization is one of the main factors for the growing prevalence of subterranean termites.

The commercial & industrial segment is forecasted to dominate the sector in 2018.

In the commercial & industrial market, main infestation is witnessed caused by subterranean and drywood termites.Subterranean termites infest commercial areas through an underground infestation, while drywood termites are present within dry wood structures and obtain access to commercial buildings through gaps or cracks in doors, windows, and roof vents.

Therefrom, to prevent these infestations, in-ground and above-ground bait stations are used in the commercial & industrial industry to manage the termite population. The dominance of the commercial & industrial segment in the termite bait systems market can be accredited to the increasing need to prevent heavy economic losses caused by termites in the commercial & industrial market in offices, manufacturing units, and retail food chains.

APAC is forecasted to be an important market for termite bait systems in the next 5 years

The climate across Asia-Pac is conducive for the breeding of many types of termites.Warmer temperatures are breeding grounds for termites, which support faster development and prolonged survival; for example, termites are more active in summer.

Therefore, with the rising prevalence of termites in the area, termite control products and services are forecasted to witness strong demand in the next years.On top of, the territory has some of the quickest-increasing economies, where there has been fast urbanization, booming infrastructure activities, and the need to service a increasing urban population.

Therefore, with the development of residential, commercial, and industrial activities, and the increasing number of reported cases of termite infestations in these areas, the industry demand for termite control products including termite baits is anticipated to gain momentum during the outlook period.

The breakdown of the primaries on the basis of company type, description, and area conducted during the business research study is like:

• By Company category: Tier 1 - 50.0 percent, Tier 2 -35.0 percent, and Tier 3 - 15.0 percent

• By Description: C-suite - 35.0 percent, D-Level - 15.0 percent, and Others* - 50.0 percent

• By Area: Asia Pacific (APAC) - 35.0 percent, North America continent -25.0 percent, Europe (EU) - 10.0 percent, South America region - 10.0 percent, and RoW -20.0 percent

*Others contain sales managers, marketing managers, and product managers.

Note: Tier 1: Revenue ? $1.0B; Tier 2: USD 100 million< Revenue< $1.0B; Tier 3: Revenue ? $100.0M

The overall market for termite bait systems is leaded by, is monopolized by big players such DowDuPont, BASF, Bayer, Sumitomo Chemical, Spectrum Brands, PCT International, Syngenta, Rentokil Initial, Ensystex, Rollins, Terminix International, and Arrow Exterminators.

Segment Research

The study examines the termite bait systems market across various applications and localities.It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including termite type, station type, application, and area.

Moreover, the analysis also comprises a detailed competitive analysis of the top players in the industry together with their company descriptions, recent evolutions, and key industries strategies.

Main highlights

This industry report will facilitate the market top players/new sector entrants in this sector by providing them the closest approximations of the revenue numbers for the global termite bait systems market and its sub-segments.It will facilitate partners to better find out the competitor overview, gain additional insights to better option their businesses, and devise suitable go-to-market approaches.

The market research will also assist partners to comprehend the sector and offer them with info on main market drivers, market restraints, opportunities, and alternatives.

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