Growth and Trends in the Restoration Industry
The Restoration Industry is Trending Upward
For those of you looking to get into a growth industry, professional restoration and remediation should be at top of your list. Currently, the restoration industry is worth about $210 billion and it looks to grow even more in the years ahead. This is the result of a number of factors, including new technologies, the increasing intensity and occurrence of natural disasters like storms, flooding, and wildfires, and the advancing age of homes and infrastructure.
New Technologies and Greater Awareness
The presence of mold is one of the biggest drivers of the restoration industry’s growth. But is there more mold today than in the past? Well, yes and no. The energy-efficient design of new homes restricts airflow, making mold more likely. Additionally, advancing technology has made mold much easier to detect in properties, so demand for mold remediation and restoration professionals has increased accordingly.
Natural Disasters Are Becoming More Common and More Intense
A 2016 EPA report showed that severe storms caused about $6 billion in property damage. Furthermore, this has been stable since 2008, suggesting that this increase is here to stay. As a result, fire and water damage professionals have been in high demand.
Hurricane Katrina Changed Everything
The 2005 New Orleans disaster changed the industry completely. New regulations were instituted, and the business process was streamlined considerably. The restoration industry is now much more organized and ready to respond to the increasing frequency and intensity of natural disasters.
Advanced Restoration Training
The new regulations and higher standards required workers with more specialized training and organizations like the Institute of Inspection Cleaning and Restoration Certification responded in kind. Restoration professionals are now better prepared than ever to serve customers and deliver fast, efficient results.
Technological Advancement in Restoration Equipment and Supplies
Restoration equipment such as air movers, dehumidifiers, and other tools are more effective, more durable, and more affordable than ever before. Additionally, many companies are going “green” and as their clients are becoming more environmentally conscious. Bioesque Solutions, for example, offers a number of naturally derived restoration products free from the harsh chemicals that were the hallmark of older products.
Looking to the Future
The daily news from California wildfires to coastal hurricanes to Midwestern tornados indicate that the increase in natural disasters is here to stay, meaning the restoration industry will continue to grow in the future. The opportunity is there for those with the right tools and the right training.