The global restoration industry is a rapidly growing sector, with the market estimated to be worth approximately $210 billion in 2020. In the U.S., this figure is projected to reach $80 billion by 2022 and water damage restoration alone is expected to grow at a CAGR of 6.8% from 2020-2025. The property damage restoration industry has around 100,000 workers in the United States and it employs 1.4 million people worldwide as of 2018; however, it remains fragmented with only 11.6% held by top four service providers combined. Fire and water restorations have seen 5.5% revenue growth between 2014-2019 while disaster recovery services are anticipated to reach USD 21
Restoration Industry Statistics Overview
In 2019, the global restoration services market was valued at approximately $124.58 billion.
This statistic is a testament to the immense size and scope of the restoration services market. It serves as a reminder of the importance of this industry and the impact it has on the global economy. It also highlights the potential for growth in the sector, as the market is expected to continue to expand in the coming years. This statistic is an invaluable resource for anyone looking to gain insight into the restoration services industry.
The U.S. has around 100,000 water and fire damage restoration workers.
This statistic is a testament to the sheer size of the restoration industry in the United States. With 100,000 workers, it is clear that the restoration industry is a major player in the economy and provides a significant number of jobs. This statistic is a reminder of the importance of the restoration industry and the impact it has on the lives of many Americans.
The fire and water restoration industry employs about 1.4 million people in 2018.
This statistic is a testament to the sheer size and scope of the fire and water restoration industry. It highlights the fact that this industry is a major employer, providing jobs to millions of people across the country. It also serves as a reminder of the importance of this industry in the economy, and the need to ensure that it remains a viable and thriving sector.
The disaster restoration sector increased at an average annualized rate of 3.6% between 2013 and 2018.
This statistic is a testament to the growth of the disaster restoration sector over the past five years. It shows that the industry has been steadily expanding, indicating that it is a viable and profitable sector to invest in. This is an important piece of information for anyone looking to get involved in the restoration industry, as it demonstrates that the sector is a reliable and profitable one.
The fire and water restoration industry experienced 5.5% revenue growth from 2014 to 2019.
This statistic is a testament to the resilience of the fire and water restoration industry, showing that despite the challenges of the past five years, the industry has still managed to experience a steady growth in revenue. This is an encouraging sign for those in the industry, and a reminder of the importance of the services they provide.
As of October 2021, the average salary for a restoration worker in the United States was $42,964.
This statistic is a valuable insight into the restoration industry, providing a snapshot of the average salary of restoration workers in the United States. It is an important indicator of the financial health of the industry, and can be used to compare salaries across different regions and job roles. Furthermore, it can be used to inform decisions about career paths and job opportunities in the restoration industry.
The worldwide disaster recovery as a service market is expected to reach USD 21.55 billion by 2026.
This statistic is a testament to the growing importance of the restoration industry. As the demand for disaster recovery services increases, so too does the potential for businesses to capitalize on this lucrative market. With the worldwide disaster recovery as a service market projected to reach USD 21.55 billion by 2026, it is clear that the restoration industry is an increasingly attractive option for businesses looking to invest in the future.
14,000 water emergency calls are made daily in the United States.
This statistic is a stark reminder of the importance of the restoration industry in the United States. With 14,000 water emergency calls made daily, it is clear that the services provided by the restoration industry are essential to keeping homes and businesses safe from water damage.
Approximately 37% of U.S. homeowners have experienced a water damage emergency.
This statistic is a stark reminder of the prevalence of water damage emergencies in the U.S. It highlights the importance of being prepared for such an event, and the need for restoration services to be readily available. It also serves as a reminder of the potential financial burden that water damage can cause, as well as the potential health risks associated with water damage.
98% of basements in the United States will experience some water damage in their lifetime.
This statistic is a stark reminder of the importance of restoration services in the United States. With such a high percentage of basements experiencing water damage, it is clear that restoration services are essential for homeowners to protect their property and investments. This statistic highlights the need for restoration services and the value they provide to homeowners.
Fire damage restoration services account for 35% of industry revenue in the United States.
This statistic is a telling indication of the importance of fire damage restoration services in the United States. It highlights the fact that a significant portion of the industry's revenue is generated from these services, demonstrating the need for them in the market. This statistic is an important piece of information for anyone looking to gain insight into the restoration industry.
In the United States, the average cost of water damage restoration ranges from $1,000 to $4,000, while fire damage restoration can cost between $800 and $93,000.
This statistic is a powerful reminder of the potential costs associated with restoration services. It highlights the wide range of prices that can be expected, from relatively minor water damage to extensive fire damage. This information is essential for anyone considering restoration services, as it allows them to plan and budget accordingly.
The wildfire restoration market in the United States is expected to grow at a CAGR of 10.9% from 2019 to 2024.
This statistic is a testament to the importance of the wildfire restoration market in the United States. It shows that the industry is growing at a rapid rate, indicating that it is a viable and profitable sector. This growth is likely due to the increasing number of wildfires in the US, as well as the need for restoration services to help rebuild affected areas. This statistic is a valuable insight into the current state of the restoration industry, and provides a glimpse into its future potential.
The average cost of mold remediation ranges from $500 to $6,000 in the United States.
This statistic is an important indicator of the cost of mold remediation in the United States, providing valuable insight into the financial implications of this type of restoration work. It is essential for anyone considering a mold remediation project to understand the potential costs involved, and this statistic provides a useful reference point.
Conclusion
The global restoration industry is a rapidly growing sector, with the market estimated to be worth $210 billion in 2020 and projected to reach $80 billion by 2022. The water damage restoration industry alone is expected to grow at a CAGR of 6.8% from 2020-2025, while the property damage restoration industry remains fragmented with only 11.6% of total revenue accounted for by the top four service providers. In 2019, 14,000 water emergency calls were made daily in the United States and 37% of homeowners have experienced some form of water damage emergency in their lifetime. Fire and smoke damages are typically more expensive than other forms of restorations due to structural impacts as well as soot cleanup costs ranging between $800-$93k on average depending on severity level. Wildfire restorations are also becoming increasingly common across North America with an anticipated 10.9% growth rate from 2019-2024 according to MarketsandMarkets research data analysis report findings released this year 2021 . Mold remediation services can range anywhere between 500 - 6000 dollars depending on size/severity levels making it one of most cost effective solutions when compared against fire or flood related damages which tend require much higher investments upfront before any repairs begin taking place.. With such high demand for these types services worldwide , its no surprise that 1 million people employed within this field globally who help make sure our homes remain safe & secure during times crisis
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