Disaster restoration refers to the process of repairing and restoring property damaged by natural disasters such as floods, hurricanes, wildfires, or earthquakes. It typically involves various services such as structural repairs and water damage restoration, fire damage restoration, mold remediation, and content restoration.
The industry
editThe disaster restoration industry, encompassing services such as fire damage repair and mold remediation[1], has experienced significant growth in recent decades due to a confluence of factors. Severe natural disasters, coupled with increasing development in disaster-prone areas, have created a steady demand for restoration services. While historically dominated by local family-owned businesses, the industry has witnessed a notable consolidation trend driven by private equity firms seeking to capitalize on its recession-proof nature.[2]
Market size
editThe global post-storm remediation market is projected to expand from $70 billion in 2024 to $92 billion by 2029, reflecting the enduring demand for restoration services in the face of climate change and other environmental challenges.[3]
References
edit- ^ "Mold Remediation Service Market Size & Share Report, 2030". Grand View Research, Inc. Retrieved 2024-10-14.
- ^ Sisson, Patrick (2024-10-11). "Natural disasters are making a mess of America. Private equity wants the cleanup cash". Sherwood News. Retrieved 2024-10-14.
- ^ "Restoration & Remediation Services" (PDF). Retrieved 2024-10-14.