- Report ID: BMRC 1299 | Number of pages: 200 | Publish Date: Aug 2020
Status: Published | Category: Consumer Goods | Delivery Timeline:
Self-Storage Market is valued at USD 87.65 Billion in 2019 and expected to reach USD 115.62 Billion by 2025 with the CAGR of 134.79% over the forecast period.
Self Storage Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2025. Increasing urban population along with the enlarged expensive living spaces in cities are some of the key factors accelerating the Self-Storage market globally.
Self-storage is a business in which storage space such as rooms, lockers, containers, and/or outdoor space also known as "storage units" is rented to tenants, usually on a short-term basis. It includes businesses and individuals. A self-storage facility does not take possession or control of the contents of the space unless a lien is executed for non-payment of rent, or if the unit is not locked the facility may lock the unit till the tenant provides his/her own lock. Most storage abilities offer insurance for purchase; also, the lessor may be protected by his/her own insurance policy (if such policy has coverage for items stored off the premises of the insured) or may purchase insurance to cover the items (which the facility may offer as a service through a third-party carrier, and in some cases may require the lessor to purchase as a condition of rental).
Self-Storage market report is segmented on the basis of storage unit size, application and by regional & country level. Based upon storage unit size, Self-Storage market is classified into small storage unit, medium storage unit and large storage unit. Based upon application, Self-Storage market is classified into household & personal storage, business storage, and vehicle & car storage.
The regions covered in this Self Storage market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Self Storage is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Self-Storage market report covers prominent players are,
Life Storage, Inc.
Prime Storage Group
Safestore Holdings Plc
Simply Self Storage Management LLC
Urban Self Storage
U-Haul International, Inc
StorageMart added 135,000 square feet of climate controlled storage in Lee's Summit, MO by first quarter of 2020
News: Nov. 19, 2018, StorageMart announced their plans to improve a total of 135,000 net rentable square feet of climate measured self-storage units in Lee's Summit, Missouri. The company currently owns and operates 3 storage locations in Lee's Summit. Expansion plans will add nearly 1,400 climate controlled storage units available for rent to residents and local businesses in the area. It is adding 75,000 square feet of climate controlled self-storage to the facility located right off Hwy 50 & Milton Thompson Rd.
Self-Storage Market Dynamics –
The global Self-Storage market is witnessing substantial growth due to increasing urban population with expensive living spaces in cities are driving the market for Self-Storage across the globe. According to the WHO, The global urban population is expected to grow approximately 1.84% per year between 2015 and 2020, 1.63% per year between 2020 and 2025, and 1.44% per year between 2025 and 2030. Additionally, according to a survey by UN State of the World Population report in 2007, by 2030, 40.76% of country's population is expected to reside in urban areas. Moreover, rising aging population and changing cultural norms are the factors supporting the demand for self-storage are drive the market for Self-Storage. According to the WHO, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. However, strict government regulations are expected to negatively impact is expected to restrain the growth of the market. Furthermore, On the other hand, an improved economic outlook is likely to offer significant growth opportunities for the key players of the self-storage market in the future.
Self-Storage Market Regional Analysis –
North America is dominating the Self Storage market with the potential rate due to increasing urban population mean smaller and increasingly expensive living spaces in cities and the creation of more renters who move around more frequently are drive the market in region. According to UN World Urbanization Prospects, in 2017, 4.1 billion people were living in urban areas. UN estimates therefore report that 54 percent of people in the world lived in urban areas in 2016. Using UN Urbanization Prospects projections, in 2018 this is estimated to be just over 55 percent of the world.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to the increasing population density, along with the improving economic conditions across the Asia-Pacific region, in addition to the aging population and changing cultural norms are the factors supporting the demand for self-storage in the region. According to the latest data from the United Nations, in 2017, there are an estimated 962 million people aged 60 and over in the world, comprising 13 per cent of the global total. The growth rate of the elderly population is approximately 3 per cent annually, higher than any other age group. A total of 65 per cent of the global increase between 2017 and 2050 for this age group is expected to occur in Asia. Additionally, according to the United Nations ESCAP, In 2019, it is estimated that 60.1 per cent of the world’s older population reside in the Asia-Pacific region, while the region makes up 59.4 per cent of the world’s total population. The number of older persons is expected to increase from an estimate of 548 million in 2019 to nearly 1.3 billion by 2050.
Key Benefits for Self Storage Market Reports –
Global Market report covers in depth historical and forecast analysis.
Global Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Market report helps to identify opportunities in market place.
Global Market report covers extensive analysis of emerging trends and competitive landscape.
By Storage Unit Size: Small storage unit, Medium storage unit, Large storage unit
By Application: Household & personal storage, Business storage, Vehicle & car storage
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Self Storage Market Size By Storage Unit Size (Small storage unit, Medium storage unit, Large storage unit), By Application (Household & personal storage, Business storage, Vehicle & car storage) Forecast 2020-2025