Mold remediation services aim at removing mold growth from indoor environments using manual, chemical, or heat-based methods. Common mold remediation techniques include manual cleaning using detergent/sanitizer solutions and disinfectants, heat treatment using thermal foggers, and air scrubbing techniques to kill spores and clean indoor air. The global mold remediation service market is witnessing significant growth owing to increasing public health awareness regarding mold-induced health issues like allergies, infections, and asthma. Rising incidences of mold contamination in residential and commercial buildings due to moisture accumulation and water damage has prompted homeowners and business owners to undertake professional mold testing and remediation services.
The global mold remediation service market is estimated to be valued at US$ 1241.61 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Additionally, stringent regulations regarding indoor air quality and occupational health are also fueling the demand for professional mold assessment and remediation services. For instance, guidelines issued by the EPA emphasize the need for proper inspection, sampling, and remediation of mold contamination in buildings. Certifications such as the American Council for Accredited Certification (ACAC) help in standardizing mold remediation practices and increasing the customers’ confidence in professional remediation services.
Segment Analysis
The mold remediation service market can be segmented by type into containment, cleaning, repair, and reconstruction. Currently, the containment segment dominates the market as it involves containing mold affected areas and preventing further spread. This is a mandatory initial step performed in all mold remediation projects.
PEST Analysis
Political: Regulations regarding indoor air quality, such as the EPA Mold Remediation in Schools and Commercial Buildings, have increased focus on mold management.
Economic: High costs associated with property damage from mold infestation are driving demand for professional remediation services.
Social: Rising public awareness about health effects of toxic mold is influencing property owners and tenants to promptly address mold issues.
Technological: New monitoring and detection technologies help identify early-stage mold growth and determine appropriate cleaning/removal methods. Digital documentation improves project management.
Key Takeaways
The Global Mold Remediation Service Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global mold remediation service market is estimated to be valued at US$ 1241.61 billion in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.
Regional analysis
The North American region accounts for over 40% market share led by the United States. This can be attributed to long wet seasons in certain parts of the country combined with aging infrastructure which facilitates mold growth. Furthermore, regulations mandating commercial and residential buildings to address any mold-related issues promptly are driving service adoption.
Key players
Key players operating in the mold remediation service market are HiMedia Laboratories, Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Corning Inc., Atlas Biologicals, Inc., TCS Biosciences Ltd., Bovogen Biologicals Pty Ltd., Novus Biologicals, LLC, Capricorn Scientific, PAN-Biotech GmbH, Atlanta Biologicals, Inc., Rockey Mountain Biologicals, GE Healthcare, Serana, and Zhejiang Tianhang Biotechnology.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it