Car Parks in the UK - Market Research Report (2014-2029)

Changing gears: Car parks must embrace tech and cater to eco-conscious consumers

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Car park revenue is expected to drop at a compound annual rate of 4% over the five years through 2022-23. A swelling number of qualified drivers, vehicle financing and travel (both for work and leisure) have all historically supported car parks - but a lot has changed since the pandemic. Unsurprisingly, government-imposed lockdown measures like travel restrictions and work-from-home guidance annihilated revenue at the time. Although, these measures had a long-lasting impact, with hybrid working becoming the new norm and people working from home more regularly. Rising environmental awareness and health consciousness are prompting Britons to take public transport or even cycle.

Operators in the Car Parks industry manage and operate car parking facilities. Industry operators primarily generate revenue by charging drivers to park their cars or other vehicles.