Revenues for Contract Cleaning Services to Reach $66.8 billion in 2013

Cleveland 2/23/2010 07:27 PM GMT (TransWorldNews)

Revenues for contract commercial and residential cleaning services in the US are forecast to advance 4.5 percent annually to $66.8 billion in 2013.  Gains will be driven by ongoing increases in both the number of households and the number of business establishments, coupled with growing availability and affordability of cleaning services.  The recession that began in late 2007 and persisted through 2008 had no discernable short-term effect on cleaning services revenues; in fact, many companies reduced operating expenses by outsourcing cleaning services as the economy worsened.  Longer-term growth in cleaning services revenues, however, will require economic recovery to expand the potential pool of customers.  These and other trends are presented in Commercial & Residential Cleaning Services, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

 

Nonresidential markets are the main consumers of cleaning services, accounting for more than three-quarters of the total in 2008.  Revenues will benefit from the trend to outsourcing cleaning functions to cut costs.  While some nonresidential markets have already seen much of this outsourcing take place (the office market, for example, and to a lesser extent some portions of the institutional market), there remain opportunities for growth.  However, little to no growth is expected in nonresidential floor space, particularly in the office, commercial and industrial markets, which will moderate growth prospects.  Through 2013, growth in cleaning services revenues in nonresidential markets will range from 3.7 percent annually in the relatively mature office market to 4.7 percent per year in the institutional market.

 

Interior building cleaning services are the largest contributor to cleaning services revenues, accounting for 74 percent of the total in 2008.  Growth in revenues will derive from expansions in the number of business establishments and the total inventory of the US housing stock, both of which will create more potential customers for cleaning service providers.  Also, specialized services such as special event clean-up and seasonal cleaning will continue to offer niche opportunities to cleaning companies.

 

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles. 

 

pr@freedoniagroup.com
www.freedoniagroup.com

 

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