Residential Maintenance Services to be Fastest Growing Market

NAVI MUMBAI, India - April 16, 2013 - PRLog -- Building Maintenance Services to 2017

 US revenues to grow 4.3% annually through 2017
 Revenues for contract (non-proprietary) building maintenance services are forecast to grow 4.3 percent per year through 2017 to $176.5 billion. This rate is an improvement over the level posted in the 2007-2012 period, as growth was hindered by the recession and subsequent slow recovery. During this downturn, many establishments in the nonresidential market reduced or eliminated spending on these services given that they are not revenue-generating areas, and a number of homeowners opted to perform maintenance services themselves. Going forward, as economic prospects improve, many consumers will again select to outsource building maintenance services This will propel a return to the trend of “do-it-for-me” rather than “do-ityourself” services; however, the outsourcing trend is maturing in some markets. Additionally, while a high level of price competition from a large number of service providers keeps prices low and makes these services affordable to a larger share of the population, it will restrain further gains in value terms.  http://www.bharatbook.com/construction-market-research-reports/building-maintenance-services-to-2017.html

 Interior cleaning, pest control to grow fastest
 Building maintenance services include landscaping, interior building cleaning, pest control, exterior building cleaning, street and parking lot maintenance, swimming pool cleaning, and other services (e.g., HVAC and other building system maintenance). In 2012, landscaping accounted for the largest share of building maintenance service revenues with 49 percent. This segment benefits from the availability of these services at a variety of frequency and price levels, from weekly lawn mowing and seasonal fertilization to more intensive services such as tree installation or removal.

 Through 2017, pest control is projected to achieve the fastest growth, as an increase in certain pest populations, growing concern for environmental health and safety, and increasing regulation in the handling and storage of pesticide chemicals will promote the hiring of contracted extermination professionals. Interior building cleaning services, which had the second largest share of sales in 2012 with 34 percent, will also generate above average gains through the forecast period, as will swimming pool cleaning and maintenance services.

 Residential maintenance to be fastest growing market
 Virtually every segment of the economy uses some degree of building maintenance services Market (http://www.bharatbook.com), though the types and amount of services needed can vary substantially by market. The nonresidential market accounted for the majority of building maintenance service revenues in 2012 with 55 percent of the total. For many nonresidential markets, building maintenance functions are essential to present a safe, clean, and well-maintained facility for customers and employees. However, in many cases these operations are outside the core capabilities of the business and so they often contract with building maintenance companies.

 Through 2017, the residential market will be the faster growing market. Gains will be driven by a rebound in residential construction spending and an acceleration in disposable income. Additional growth will stem from a number of demographic trends, including the graying of the population and a rising number of dualincome families, as fewer homeowners will have the time, inclination, or ability to perform these services themselves.

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