The global disaster restoration services market is expected to reach a valuation of US$ 41.2 billion in 2023. During the forecast period (2023-2033), worldwide demand for disaster restoration services is expected to increase significantly at a CAGR of 5.7% and reach a market size of US$ 80.1 billion by the end of 2033.
One of the main causes of an increase in natural catastrophes around the world is a significant rise in population that influences human-caused climate changes. Over the previous few years, natural calamities have occurred often, including floods, fires caused by wildlife, and storms. The demand for disaster restoration services—where a professional provides remediation solutions for damaged properties, cleans up, and provides consultation for the protection of property from further natural disasters—is anticipated to increase as a result.
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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.
Competitive landscape:
Major companies offering disaster restoration services are 911 Restoration, AdvantaClean, BELFOR, Bio-One, DKI Restoration, Duraclean, Paul Davis Restoration, PuroClean, Rainbow International Restoration, Restoration 1, ServiceMaster Restore, Servpro, Steamatic, The Paramedics of Property Damage, and Venturi Restoration.
The market is highly fragmented with the presence of various market players offering disaster restoration services. With vast service offerings related to disaster restoration, companies are resorting to service launches and mergers to enhance their footprint and capitalize on a larger customer base.
For Instance:
- In February 2022, Wilmington, United States-based Bryter Restoration introduced an extensive water damage restoration service and is committed to assisting those who face damages from storms, floods, and other natural disasters.
- In August 2022, BluSky Restoration Contractors, LLC, one of the leading property restoration companies based in the United States, announced a merger with Massachusetts-based Pro-care disaster restoration services called Woburn.
Fact.MR has provided detailed information about the providers of disaster restoration services positioned across regions, revenue growth, and service offering expansion, in the recently published report.
Segmentation of Disaster Restoration Services Industry Research:
- By Type :
- Fire Restoration
- Water Damage Restoration
- Storm Damage Restoration
- Mold Damage Restoration
- Flood Damage Restoration
- By End-use Application :
- Commercial
- Residential
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Disaster Restoration Services make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Disaster Restoration Services Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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