Transparency Market Research
A termite is a type of insect that damages property, especially wood and wooden structures. Baits are an essential tool for termite control and prevention programs. A standard termite treatment in residential areas is done with a topsoil-applied liquid termiticide. A termite bait system is a type of full termite control kit. The system is used for the long term. For best results, termite baits systems require proper maintenance and monitoring.
The eco-friendly nature of termite bait products is a significant factor driving the termite bait systems market around the world. The termite bait systems market is estimated to expand during the forecast period, owing to an expansion in the residential sector and rise in the occurrence of termite infestations due to weak building practices. The termite bait systems market is a comparatively small division of the termite control industry.
The market is expanding at a substantial rate, owing to the rising need for active termite management with minimally toxic methods in the residential, commercial, and industrial sectors. However, termite bait systems has lack of awareness among the people, high initial investment, and low adoption rate by the cutomer, specifically in emerging countries, are estimated to hinder the termite bait systems market in the near future.
The global termite bait systems market can be segmented based on termite, station, application, distribution channel, and region. In terms of termite, the termite bait systems market can be divided into drywood termites, subterranean termites, dampwood termites, and other termite types. The subterranean termites segment is projected to lead the termite bait systems market. Based on station, the market can be split into in-ground and above-ground. Subterranean termites are discovered under the ground level and in-ground termite bait is mostly used to control these type of termite infestations. The in-ground station segment is anticipated to dominate the market in the coming years. In terms of application, the market can be classified into residential, industrial, commercial, agriculture & livestock farms, and other applications. Based on distribution channel, the termite bait systems market can be bifurcated into online and offline channel.
In terms of region, the global termite bait systems market can be categorized into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). North America is further divided into the U.S., Canada, and Rest of North America. Europe has been categorized into the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa has been classified into GCC countries, South Africa, and Rest of Middle East & Africa. South America has been segmented into Brazil, Mexico, and Rest of South America.
Currently, North America holds a prominent share of the global market. However, the market in Asia Pacific is projected to expand at a robust rate in the coming years. This is owing to booming infrastructure activities, rapid urbanization, and the need to meet the demands of a growing urban population in the region. Development in the industrial, commercial, and residential sectors is likely to boost cases of termite infestations in Asia Pacific. Therefore, the demand for termite bait systems is anticipated to gain momentum in the region in the near future.
Key players operating in the global termite bait systems market include DowDuPont, BASF SE, Sumitomo Chem, Syngenta, Spectrum Brands, Inc., and Ensystex. These producers are estimated to benefit from advanced infrastructure development and industrial expenditure driven by a rise in the number of wooden houses in various region especially, in Americas. Key players are concentrating on mergers and acquisitions in order to gain an edge over competitors. Development of advanced infrastructure facilities is estimated to boost demand for termite bait systems. This is likely to propel he market in the coming years.
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