Disaster Restoration Services Market
Disaster Restoration Services Market Size, Share Analysis, By Type (Fire Restoration, Water Damage Restoration, Storm Damage Restoration, Mold Damage Restoration, Flood Damage Restoration), By End-use Application (Commercial, Residential), & Region - Global Market Insights 2023 to 2033
Analysis of Disaster Restoration Services Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Disaster Restoration Services Market Outlook (2023-2033)
The global disaster restoration services market is expected to reach a valuation of US$ 41.2 billion in 2023. During the forecast period (2023-2033), worldwide demand for disaster restoration services is expected to increase significantly at a CAGR of 5.7% and reach a market size of US$ 80.1 billion by the end of 2033.
As a result of increasing natural calamities across the world, federal and state governments started allocating dedicated budgets for disaster restoration services. Over the span of the past three years, an estimated US$ 25 billion was sanctioned by governments for disaster restoration services.
Substantial rise in population influencing human-caused climate changes is one of the leading factors attributed to a rise in the incidence of natural disasters worldwide. Floods, wildlife fires, and storms are some of the natural disasters that have been observed in frequent occurrences over the past few years. This is expected to drive the demand for disaster restoration services, where a professional offers remediation solutions for damaged properties, cleans up, and offers consultancy regarding the protection of property from further natural disasters.
- As per a study by the Food and Agriculture Organization (FAO), natural disasters are observed 3 times more often than 50 years ago.
With the increasing number of natural disasters worldwide, demand for restoration services is expected to see significant demand over the forecasted period (2023-2033). Significant rise in population and urbanization is a major factor that will also drive the demand for disaster restoration services over the decade.
Substantial increase in old infrastructure will also have a positive effect on market expansion in the long run. The residential sector accounts for a leading share of 72% under end-use applications and is projected to dominate over the next ten years as well.
Disaster Restoration Services Market Size (2022A)
US$ 39 Billion
Estimated Market Value (2023E)
US$ 41.2 Billion
Forecasted Market Value (2033F)
US$ 80.1 Billion
Global Market Growth Rate (2023-2033)
~ 5.7% CAGR
North America Market Share (2022)
East Asia Market Growth Rate (2023-2033)
United States Market Growth Rate (2023-2033)
Key Companies Profiled
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Surging Awareness about Health Effects of Mold
In the current scenario, demand for disaster restoration services has been observed to be high in houses and buildings with mold. As people are becoming aware of the adverse effects of household mold, they are appointing mold restoration service providers, resulting in a significant expansion of the market.
Household mold could result in a stuffy nose, itchy eyes, skin reactions, and wheezing. It is harmful to those with mold allergy or asthma, resulting in intense reactions and health deterioration
Due to these factors, demand for disaster restoration service providers is at its peak, where professionals inspect mold and identify & repair the necessary source of the problem. Also, they restore and develop the affected area in such a way that it hampers future mold growth as well as secures mold spores from spreading to other areas.
Faster Claim Approval by Insurance Companies Benefitting Market Players
Vast adoption by insurance companies for disaster restoration claims is benefitting service providers. Disaster restoration services providers are aware of the aftermath of disasters. For instance, in case of water damage, they are aware of the damage, sogginess, saturation, and mold likely to occur to the building. They are also equipped with modern tools such as moisture meters to identify and procure complete knowledge about disaster damage.
All these factors will be beneficial to clients in the development of documentation and reporting damages for insurance claims. Disaster restoration service providers are professionals who are well aware of the essential documents that need to be prepared on priority for faster approval of insurance claims. Also, these professionals are familiar with billing systems to get essential reimbursements from the insurance company for insured clients.
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Uncertainty Associated with Disaster Restoration Services Business
Demand for disaster restoration services is directly dependent on the number of damages that take place due to disasters in society. This factor is a major challenge to the overall growth of the market. Only in vulnerable cases, these services are expected to be demanded by people. Countries lesser prone to natural calamities are expected to exhibit less demand for disaster restoration services.
Also, lack of awareness among people regarding disaster restoration services is expected to be observed in places with lower natural calamities. People are highly dependent on insurance companies and claims regarding crucial finances required in the restoration of homes and buildings, which will result in a challenging scenario for disaster restoration service providers to see continued demand.
Image depicts estimated total addressable market value of disaster restoration services in 2023 - US$ 41.2 billion. It also represents market split by type; water damage restoration services are expected to account for a market share of 41%.
United States to Account for Leading Share of Global Market
The United States is expected to exhibit commendable demand for disaster restoration services with the presence of different climates in the country. Due to this, the country has various risks regarding natural disasters in several parts of the nation.
For instance, California holds a higher risk for wildlife fire, and similarly, the Midwest is highly prone to tornadoes during April, May, and June. Tornadoes, hurricanes, floods, and other natural disasters hit the United States every year. This factor substantially escalates the demand for disaster restoration services in the country.
Another factor driving the demand for disaster restoration services is the aging infrastructure in the country. The United States is a developed economy with a lot of old infrastructure. These infrastructures are easily hit and get damaged by natural and human-created disasters. This has resulted in growth in people’s awareness towards procuring disaster restoration services to achieve the proper restoration of buildings.
Market in China to Expand the Fastest
China is the largest developing economy in the world with a significant population that could face challenges in the country's overall development due to disasters. As China is one of the countries that suffer the most number of disasters, the response to natural disasters has become essential in the country. This factor is expected to drive the need for disaster restoration services in the country during the forecasted period.
From the 20th century onwards, China has seen more than 800 earthquakes of magnitude 6 or higher. Economic damage caused by earthquakes in China amounted to US$ 275,569.38 in 2020. With a significant rise in earthquakes and other natural disasters, demand for disaster restoration services is expected to increase substantially.
Also, the Chinese government is taking favorable initiatives with comprehensive execution of a scientific outlook on development, the building of systems, and mechanisms to face disasters, and is committed to establishing buildings with disaster-prevention capacities.
Water Damage Restoration Services to Bring in Most Revenue
Water restoration services include water removal services, dry-out, and dehumidification. These services sometimes also include full repair and reconstruction services such as the redevelopment of walls, carpets, and others for clients.
With substantial increase in water damage to infrastructure and buildings worldwide, demand for these services is expected to see significant growth. Old infrastructure is prone to water leakages due to the deterioration of pipelines and sewage lines, which is driving the demand for these services.
Additionally, water damage leads to mold in buildings resulting in an adverse effect on the health of the residents. Water damage restoration service providers take care of water damage and mold and prevent the infrastructure from future water-related damage.
Residential Sector to Lead End-use Application Segment
Residential houses & buildings are largely impacted by natural disasters such as earthquakes, floods, storms, and others. Countries prone to natural disasters are driving the demand for these services. With an increase in population worldwide, urbanization is expected to observe significant growth. House ownership has seen significant growth every year resulting in the high demand for restoration services to prevent mold and damage due to natural disasters.
Additionally, residential houses & buildings use these services substantially to secure timely insurance claims. Disaster restoration service providers have professionals who do the timely analysis of the damage that occurs to houses and efficiently prevent them from future outcomes of disasters.
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Major companies offering disaster restoration services are 911 Restoration, AdvantaClean, BELFOR, Bio-One, DKI Restoration, Duraclean, Paul Davis Restoration, PuroClean, Rainbow International Restoration, Restoration 1, ServiceMaster Restore, Servpro, Steamatic, The Paramedics of Property Damage, and Venturi Restoration.
The market is highly fragmented with the presence of various market players offering disaster restoration services. With vast service offerings related to disaster restoration, companies are resorting to service launches and mergers to enhance their footprint and capitalize on a larger customer base.
- In February 2022, Wilmington, United States-based Bryter Restoration introduced an extensive water damage restoration service and is committed to assisting those who face damages from storms, floods, and other natural disasters.
- In August 2022, BluSky Restoration Contractors, LLC, one of the leading property restoration companies based in the United States, announced a merger with Massachusetts-based Pro-care disaster restoration services called Woburn.
Fact.MR has provided detailed information about the providers of disaster restoration services positioned across regions, revenue growth, and service offering expansion, in the recently published report.
Segmentation of Disaster Restoration Services Industry Research
By Type :
- Fire Restoration
- Water Damage Restoration
- Storm Damage Restoration
- Mold Damage Restoration
- Flood Damage Restoration
By End-use Application :
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
The global disaster restoration services market is expected to grow at a CAGR of 5.7% during the forecast period 2023-2033.
The market in East Asia is expected to exhibit the highest CAGR of 6.5% through 2033.
North America leads the global market with a share of 37%.
Water damage restoration services account for the largest share of 41% in the market.