Carpet cleaning service prices are anticipated to rise due to the increasing number of businesses in the United States
Los Angeles, CA (PRWEB) December 28, 2014
Carpet cleaning services have a buyer power score of 3.1 out of 5, which reflects a highly competitive market with high price volatility. According to IBISWorld analyst Deonta Smith, these factors have propelled the average price of services to increase at an estimated average rate of 2.4% per year in the three years to 2014. In the next three years to 2017, prices are forecast to accelerate at a faster rate as the number of businesses and per capita disposable income levels continue to climb and support demand for market services. As a result, buyers are encouraged to establish carpet cleaning contracts now.
The low market share concentration has fostered a highly competitive market. With more than 41,000 suppliers to choose from, including Chem-Dry Inc. and The ServiceMaster Company, buyers can easily shop around for a company that can best suit their budget and service needs, continues Smith. However, the low availability of substitutes has slightly hampered buyer power during the past three years. Buyers must also take total cost of ownership into consideration. For example, carpet that does not receive appropriate professional cleanings will deteriorate at a faster rate than carpet that does receive regular cleanings; consequently, buyers that neglect carpet maintenance can incur a higher total cost of ownership. To this end, buyers will be forced to remove and replace the carpet, which would result in considerable costs.
Although prices are forecast to increase during the three years to 2017, price volatility is anticipated to fall to a low level during the period. Low volatility indicates that buyers will not be subject to sudden price increases and can budget accordingly despite the steady rise in prices resulting from increasing demand. For more information, visit IBISWorld’s Carpet Cleaning Services procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of carpet cleaning services. Carpet cleaners provide cleaning and dyeing service for rugs and carpets as well as damage restoration services. The market is largely comprised of franchise operations, although there are a number of independent contractors operating in the market. This report excludes other building component cleaning services such as air duct, chimney and exhaust hood or fan cleaning services.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
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IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.