Cleaning Services Market Expected to Reach $111,498.8 Billion by 2030

BANGALORE, India - March 3, 2022 - PRLog -- According to a new report published by Valuates Reports, titled, "Cleaning Services Market by Type, End-User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030," The global cleaning services market size was valued at $55,715.0 million in 2020, and is projected to reach $111,498.8 million by 2030, registering a CAGR of 6.5% from 2021 to 2030. The floor care segment was the highest contributor to the market, with $12,293.8 million in 2020, and is estimated to reach $22,820.2 million by 2030, at a CAGR of 5.7% during the forecast period. Cleaning services encompass a wide range of services such as window washing, floor cleaning, vacuuming, furniture cleaning, carpet cleaning, air duct cleaning, water damage restoration, and other similar services. These services are used by both commercial and residential customers.

The growth of cleaning services market can be attributed to growing acceptance of these services as a result of the economic upturn, increasing discretionary income, and the rise in dual-income households, supporting market expansion. Furthermore, expansion in the commercial sector and real estate investment are expected to fuel demand for various cleaning services. However, high competition, particularly in industrialized countries, is one of the key reasons limiting market growth. On the contrary, rapid urbanization has had a favorable impact on the cleaning services business, albeit having a detrimental impact on the environment due to infrastructure strain. Many governmental garbage management operations, such as mobile applications for smart cities, are influencing the cleaning services market. The market for cleaning services is likely to continue to develop as public awareness of the benefits of a green and healthy environment grows, thereby creating opportunities for the global cleaning services market growth

Key findings of the study

• On the basis of type, the carpet and upholstery segment is projected to witness the highest CAGR of 7.8%, in revenue terms, during the forecast period.
• On the basis of end user, the commercial segment is expected to dominate the market from 2021 to 2030.
• The residential segment is expected to grow at a significant CAGR during the forecast period.
• U.S. was the largest country, in terms of revenue generation for cleaning services in 2020.
• Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 7.4% from 2021 to 2030

View Full Report: https://reports.valuates.com/reports/ALLI-Manu-0G78/clean...