According to the IBISWorld website the pest control industry is expected to experience strong growth over the next five years with revenues increasing at an annualized rate of 5.5% to $15.0 billion by 2017.
IBIS World attributes this to increasing housing sales and residential construction, increasing bed bug infestations and increasing temperatures. In addition, as the economy recovers, the numbers of restaurants is expected to increase, further increasing the demands for pest control. As a result, from 2012 to 2013, revenues in the pest control industry are forecasted to rise 6.9%.
Taexx, the bug barrier, effectively controls household pests through a network of tiny tubes that run throughout designated walls and wet walls of a home and connect back to exterior service ports, where the pest control materials are injected.
Dirk Korte, vice president of national accounts with HomeTeam Pest Defense agrees,
“I’ve been in the business a long time and I have been through several cycles in the home building industry. And while this recent down turn has been the worst in my life, the industry is rebounding extremely well, even in markets that were hit hard, like Florida, Las Vegas, and Phoenix. Taexx installations are up so far this year. I attribute this to an increase in growth from our builder partners. Currently we are hiring and training people as fast as we can in order to meet the construction demands of our builder partners.”
Korte continued, “We cover 50 markets and have pretty good feel for the pulse of the building market in the south, and right now it is good. The big question is, is it sustainable? Can we continue at this pace without getting into an over supply situation like we did before? That is the unknown. But for now it looks like 2013 is going to be an exciting year.”