Termite Bait System Products Market to Reach a Value of ~US$ 2.8 Bn by 2027: Transparency Market Research

According to a new market report published by Transparency Market Research on the termite bait system products market for the forecast period of 2019-2027, the termite bait system products market is expected to reach a value of ~US$ 2.8 Bn by the year 2027.

Global Termite Bait System Products Market: Overview

• The global termite bait system products market was valued at ~US$ 1.8 Bn in 2018 and is expected to expand at a CAGR of ~5% from 2019 to 2027. The market is expanding significantly in terms of value. Growing termite damage in corporate and residential applications is driving the growth of the market.
• The termite bait system products market in Asia Pacific is growing rapidly. Technological advancements coupled with increasing investments by foreign players are driving the growth of the termite bait system products market in the region.   
• North America is the largest termite bait system products market, accounting for ~40% share of the global market in 2018. The rising demand for pest control products coupled with growing consumer awareness about the ill-effects of chemical products is driving demand in this region.

Termite Bait System Products Market: Driving Factors

• Property owners need to place trap stations, which are safe for people and pets. Households prefer to use environment-friendly solutions to deal with termite-related problems.
• Apartments in high-temperature regions require long-term protection from termite problems. Thus, the usage of termite bait system products is increasing.
• Various strategies utilized to control termite population include liquid chemical barriers and baiting stations. Liquid chemical barriers such as anti-agents are utilized to create hindrance around and under the structures to square potential courses of termite passage.

Termite Bait System Products Market: Key Challenges

• Baiting systems need to be inspected regularly to ensure the structure can properly monitor termite presence and assess the need for additional baits.
• Awareness of termite bait system products is low in different parts of the globe. This is expected to restrict growth opportunities in the market.

Termite Bait System Products Market: Competitive Landscape

• The termite bait system products market includes several players focused on the development of new products to cater to market demand.
• The report includes the below mentioned pointers of major players operating in the termite bait system products market:
  • Company Overview
  • Product Profiling
  • Market Share Analysis (2018)
  • Product Innovation
  • Business Strategies/Recent Developments
    • Technological Advancements
    •  Key Mergers & Acquisitions
    • Expansion Strategies
  • Company Financials

Major Players Covered Under the Scope

DowDuPont	Spectrum Brands, Inc.
BASF SE	Ensystex
Bayer AG	PCT International
Sumitomo Chemical Co., Ltd.	Rentokil Initial Plc
Syngenta	SBM Life Science Corp

Termite Bait System Products Market: Segmentation

Termite Bait System Products Market by Termite

• Subterranean
• Dampwood
• Drywood

Termite Bait System Products Market by Type

• Bait Devices
• Liquid Eradication Methods

Termite Bait System Products Market by Station

• In Ground
• Above Ground

Termite Bait System Products Market by Application

• Commercial & Industrial
• Residential
• Agriculture & Livestock

Termite Bait System Products Market by Distribution Channel

• Online
• Offline

Termite Bait System Products Market by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Croatia
  • Greece
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • ANZ
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

About Us

Transparency Market Research (TMR) is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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