Global Termite Bait Systems Market, By Termite Type (Subterranean termites, Dampwood termites, Drywood termites, Others), Station Type (In-ground, Above-ground), Application (Commercial & Industrial, Residential, Agriculture & livestock farms, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Termite Bait Systems Market
The Global Termite Bait Systems Market is set to witness a CAGR of 5.9% in the forecast period of 2019-2026, raising the initial estimated value from USD 257.3 million in 2018 to an estimated value of USD 407.01 million by 2026. This is due to the increasing prevalence of termites in buildings.
Market Definition: Global Termite Bait Systems Market
Termites are a type of insect that destroy and consume wood, wooden structures or even entire buildings. Termite bait system is one of the innovative ways of termite control. It involves application of edible baits that are applied near the termite’s infestation which is then consumed and spread throughout the termites. Baiting involves constant inspection and re-application if necessary. Baits include a small amount of wood and insecticides that decline and slow the growth of termites.
- Termite bait systems are environmentally safe and can be applied conveniently which help in driving the market growth
- Change in climatic conditions has increased the prevalence of termites which has increased the demand for termite reduction systems. This trend is driving the growth of the market
- High initial cost and installation of termite bait systems is acting as one of the major market restraints
- Lack of awareness about the benefits of termite bait systems is also acting as a market restraint as most of the population is aware about the chemical solutions for termites
Segmentation: Global Termite Bait Systems Market
- By Termite Type
- Subterranean termites
- Dampwood termites
- Drywood termites
- Conehead termites
- Desert termites
- By Station Type
- By Application
- Commercial & Industrial
- Agriculture & livestock farms
- Transport facilities
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global Termite Bait Systems Market
The Global Termite Bait Systems Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Termite Bait Systems market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Termite Bait Systems Market
Few of the major market competitors currently working in the Termite Bait Systems market are The Dow Chemical Company, BASF SE, Bayer AG, Sumitomo Chemical Co. Ltd., Syngenta, Rentokil Initial plc, Spectrum Brands Inc., Ensystex, Rollins Inc., The Terminix International Company Limited Partnership, and Arrow Exterminators.
Research Methodology: Global Termite Bait Systems Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved