Building Exterior Cleaners in the US - Industry Market Research Report

Clean slate: Rising business formation rates will boost revenue growth

Building exterior cleaners offer an array of services to both residential and commercial clients, including swimming pool maintenance and cleaning, gutter cleaning and repair, parking lot sweeping and snow removal. As wage growth soared in the years right before the pandemic, household income increased. Since individuals had more money, they spent more on home improvements, raising demand for building exterior cleaners. COVID-19 caused corporate profit to plunge, resulting in reduced nonresidential construction. This decreased spending on the industry's services, causing revenue to fall. As the economy recovered from the pandemic, consumer spending soared, boosting demand for building exterior cleaning services from the residential and nonresidential sectors. Interest rates have skyrocketed recently, as the Federal Reserve has been increasing them to reduce inflation. Since the cost of borrowing is higher, fewer individuals have purchased homes or engaged in home improvements, causing downstream demand for building exterior cleaning services to decline. Overall, revenue for building exterior cleaners is anticipated to increase at a CAGR of 1.5% during the current period, reaching $11.9 billion in 2023. Revenue is forecast to creep upward 0.4% in the same year. This industry provides exterior cleaning services for residential and commercial buildings. Services include power washing and other cleaning services for windows, driveways, swimming pools, gutters and ventilation ducts. Operators also offer lighting maintenance and snow plowing services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.