Global Self Storage Market - Segmented by End-user Application (Personal, Business) and Region (North America, South America, Europe, APAC, MEA) - Growth, Trends, and Forecast (2022 - 2030)
The Self Storage market is expected to register a CAGR of over 7.5%, during the forecast period (2018 - 2023).
The self storage industry is a sub-sector of the commercial real estate market. The growth in this industry is expected to be positive during the forecast period, due to the trend of increased urbanization and improved economic outlook, across regions, which lead to new business growth. Population growth and an increase in consumer spending of the urban population, resulting in increased possessions, also creates the demand for the more self storage. The prevailing trend in the e-commerce sector, of opening physical stores for pick-up and delivery, also supports the growth of the self storage market. Along with the rising e-commerce, niche service demands, like climate controlled environment and specialized spaces for sports equipment, across many regions, also provides many growth opportunities in the self storage market. This market is fragmented with a lot of players entering into the market space. This is because the market is in its nascent stage and has not been fully explored yet.
Business Storage is Expected to be the Fastest Growing Segment
The personal storage segment in the self storage market is expected to register the highest share, considering the critical demand driver of the market, urbanization. Due to the rising urban population from 1970 through 2018, growth in the consumer spending on goods and services is facilitating the need for storage spaces. It is estimated that global spending on goods and services may increase from USD 28 trillion in 2010, with a CAGR of 3.77%. Therefore the personal storage segment of the self storage market is expected to witness a positive demand, throughout the forecast period. However, considering the rise in e-commerce sector and need to open physical stores in the highly competitive marketplace, a growth in the business self storage segment can be expected, during the forecast period.
North America is Expected to occupy Significant Self Storage Market Share
High disposable income regions, like the United States, the United Kingdom, New Zealand, and Australia are more established in the self storage market, due to high demand. These countries are reaching maturity in the self storage market and are, therefore, expected to register slow growth rates, comparatively. North America registered the highest share in the self storage market, in 2017, as it had the highest number of self storage facilitates (ranging between 44,000 and 52,000 storage facilities in the United States alone). In 2018, the fastest growing region is estimated to be Asia-Pacific. Forecast to be the highest urbane population, by 2030, and having a substantial share in global consumer spending in addition to the economic outlook makes it the fastest growing segment in the self storage market, considering the amount of lettable floor area and average home size in the region.
Major Players: U HAUL INTERNATIONAL INC., CUBESMART, PUBLIC STORAGE, SAFESTORE, EXTRA SPACE STORAGE, SOVRAN SELF STORAGE INC. (LIFE STORAGE INC.), NATIONAL STORAGE AFFILIATES, SIMPLY SELF STORAGE, STORAGEMART, PRIME STORAGE GROUP, W. P. CAREY INC., METRO STORAGE LLC and STORAGE TREASURES LLC, among others.
Reasons to Purchase The Report
• Current and future self-storage market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth, during the forecast period
• Identify the latest developments, market shares, and strategies employed by major market players.
• 3 months analyst support, along with the Market Estimate sheet (in Excel).
Customization of The Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
The self storage industry is a sub-sector of the commercial real estate market. The growth in this industry is expected to be positive during the forecast period, due to the trend of increased urbanization and improved economic outlook, across regions, which lead to new business growth. Population growth and an increase in consumer spending of the urban population, resulting in increased possessions, also creates the demand for the more self storage. The prevailing trend in the e-commerce sector, of opening physical stores for pick-up and delivery, also supports the growth of the self storage market. Along with the rising e-commerce, niche service demands, like climate controlled environment and specialized spaces for sports equipment, across many regions, also provides many growth opportunities in the self storage market. This market is fragmented with a lot of players entering into the market space. This is because the market is in its nascent stage and has not been fully explored yet.
Business Storage is Expected to be the Fastest Growing Segment
The personal storage segment in the self storage market is expected to register the highest share, considering the critical demand driver of the market, urbanization. Due to the rising urban population from 1970 through 2018, growth in the consumer spending on goods and services is facilitating the need for storage spaces. It is estimated that global spending on goods and services may increase from USD 28 trillion in 2010, with a CAGR of 3.77%. Therefore the personal storage segment of the self storage market is expected to witness a positive demand, throughout the forecast period. However, considering the rise in e-commerce sector and need to open physical stores in the highly competitive marketplace, a growth in the business self storage segment can be expected, during the forecast period.
North America is Expected to occupy Significant Self Storage Market Share
High disposable income regions, like the United States, the United Kingdom, New Zealand, and Australia are more established in the self storage market, due to high demand. These countries are reaching maturity in the self storage market and are, therefore, expected to register slow growth rates, comparatively. North America registered the highest share in the self storage market, in 2017, as it had the highest number of self storage facilitates (ranging between 44,000 and 52,000 storage facilities in the United States alone). In 2018, the fastest growing region is estimated to be Asia-Pacific. Forecast to be the highest urbane population, by 2030, and having a substantial share in global consumer spending in addition to the economic outlook makes it the fastest growing segment in the self storage market, considering the amount of lettable floor area and average home size in the region.
Major Players: U HAUL INTERNATIONAL INC., CUBESMART, PUBLIC STORAGE, SAFESTORE, EXTRA SPACE STORAGE, SOVRAN SELF STORAGE INC. (LIFE STORAGE INC.), NATIONAL STORAGE AFFILIATES, SIMPLY SELF STORAGE, STORAGEMART, PRIME STORAGE GROUP, W. P. CAREY INC., METRO STORAGE LLC and STORAGE TREASURES LLC, among others.
Reasons to Purchase The Report
• Current and future self-storage market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth, during the forecast period
• Identify the latest developments, market shares, and strategies employed by major market players.
• 3 months analyst support, along with the Market Estimate sheet (in Excel).
Customization of The Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
