Where is the largest and fastest growing market for self storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more. The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The self-storage market size has grown strongly in recent years. It will grow from $59.03 billion in 2023 to $63.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historic period can be attributed to increasing urbanization, rising real estate prices, changes in lifestyle, growing commercial demand, and an increased business awareness of storage costs and benefits.
The self-storage market size is expected to see strong growth in the next few years. It will grow to $86.05 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth during the forecast period can be attributed to the rising demand for non-conventional storage options, an improving economic outlook, the expansion of small-scale businesses, increased demand for climate control, and a growing need for storage. Major trends in the forecast period include the adoption of technology in self-storage facilities, a growing preference for climate-controlled storage units, flexible leasing options, value-added services, and a rise in demand for smaller storage units.
The expansion of the e-commerce sector is anticipated to drive the growth of the self-storage market in the future. The e-commerce industry involves online buying and selling of goods and services, using digital platforms to reach a global audience and simplify transactions. The sector is growing due to increasing consumer preference for personalized and local products, along with the convenience and accessibility of online shopping. The self-storage market offers the e-commerce industry flexible, cost-effective solutions for managing excess inventory, seasonal stock, and business equipment. For example, in February 2024, the Census Bureau of the Department of Commerce reported that e-commerce sales in the fourth quarter of 2023 increased by 7.5% compared to the same period in 2022. Consequently, the growth of e-commerce platforms is boosting the self-storage market.
Leading companies in the self-storage market are implementing smart storage solutions to enhance customer experience, improve security, and streamline operations. Smart storage integrates advanced technologies with Internet of Things (IoT) sensors, radio-frequency identification (RFID) tracking, and automated inventory management systems to optimize storage space, improve accessibility, and enhance security within storage facilities. For instance, in September 2023, Vantiva SA, a France-based telecommunications company, introduced Vantiva Smart Storage. This innovative Wi-Fi and IoT software solution for the self-storage industry allows integration of third-party devices and subsystems while supporting various communication protocols. It enables 24-hour remote and secure monitoring of essential assets with alert features, unifying all technology subsystems, including sensors, HVAC, and access control, into a single dashboard for operators to oversee operations, identify inefficiencies, and respond to alerts across multiple locations.
In September 2023, Public Storage, a US-based self-storage company, acquired Simply Self Storage for $2.2 billion. This acquisition aims to enhance Public Storage's market presence by adding 127 properties with a total of 9 million rentable square feet, reinforcing its position as a leading player in the self-storage industry. Simply Self Storage is a US-based company specializing in self-storage platforms.
Major companies operating in the self storage market are U-Haul, Public Storage, Extra Space Storage, CubeSmart, Life Storage Inc., National Storage Affiliates Trust, Shurgard Self Storage, Storage Solutions, Big Yellow Self Storage Company, Safestore, SmartStop Self Storage, StorQuest Self Storage, Metro Self Storage, StorageMart, Simply Self Storage, Prime Storage, iStorage, Westport Properties, Global Self Storage Inc., Lok'nStore, Central Self Storage, Metro Mini Storage.
North America was the largest region in the self storage market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the self storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the self storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Self-storage is a service where individuals or businesses can rent storage space to keep their belongings. These spaces come in various sizes and are typically rented on a monthly basis, offering a flexible solution for additional storage needs. The industry serves a diverse clientele, including people who are moving and businesses that need to store inventory or documents.
Self-storage options include climate-controlled units, portable storage, and traditional storage units. Climate-controlled units feature heating and cooling systems that maintain stable temperatures and humidity levels, making them suitable for storing sensitive items such as electronics, artwork, and important documents that need protection from extreme weather. Storage unit sizes range from small to large, accommodating different needs such as household and personal storage, business storage, and vehicle storage. The end users include commercial, industrial, and residential customers.
The self-storage market research report is one of a series of new reports that provides self-storage market statistics, including self-storage industry global market size, regional shares, competitors with a self-storage market share, detailed self-storage market segments, market trends and opportunities, and any further data you may need to thrive in the self-storage industry. This self-storage market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The self-storage market consists of revenues earned by entities by providing services such as access services, unit rental, convenience service, specialized storage, and business storage solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The self-storage market size has grown strongly in recent years. It will grow from $59.03 billion in 2023 to $63.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth during the historic period can be attributed to increasing urbanization, rising real estate prices, changes in lifestyle, growing commercial demand, and an increased business awareness of storage costs and benefits.
The self-storage market size is expected to see strong growth in the next few years. It will grow to $86.05 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth during the forecast period can be attributed to the rising demand for non-conventional storage options, an improving economic outlook, the expansion of small-scale businesses, increased demand for climate control, and a growing need for storage. Major trends in the forecast period include the adoption of technology in self-storage facilities, a growing preference for climate-controlled storage units, flexible leasing options, value-added services, and a rise in demand for smaller storage units.
The expansion of the e-commerce sector is anticipated to drive the growth of the self-storage market in the future. The e-commerce industry involves online buying and selling of goods and services, using digital platforms to reach a global audience and simplify transactions. The sector is growing due to increasing consumer preference for personalized and local products, along with the convenience and accessibility of online shopping. The self-storage market offers the e-commerce industry flexible, cost-effective solutions for managing excess inventory, seasonal stock, and business equipment. For example, in February 2024, the Census Bureau of the Department of Commerce reported that e-commerce sales in the fourth quarter of 2023 increased by 7.5% compared to the same period in 2022. Consequently, the growth of e-commerce platforms is boosting the self-storage market.
Leading companies in the self-storage market are implementing smart storage solutions to enhance customer experience, improve security, and streamline operations. Smart storage integrates advanced technologies with Internet of Things (IoT) sensors, radio-frequency identification (RFID) tracking, and automated inventory management systems to optimize storage space, improve accessibility, and enhance security within storage facilities. For instance, in September 2023, Vantiva SA, a France-based telecommunications company, introduced Vantiva Smart Storage. This innovative Wi-Fi and IoT software solution for the self-storage industry allows integration of third-party devices and subsystems while supporting various communication protocols. It enables 24-hour remote and secure monitoring of essential assets with alert features, unifying all technology subsystems, including sensors, HVAC, and access control, into a single dashboard for operators to oversee operations, identify inefficiencies, and respond to alerts across multiple locations.
In September 2023, Public Storage, a US-based self-storage company, acquired Simply Self Storage for $2.2 billion. This acquisition aims to enhance Public Storage's market presence by adding 127 properties with a total of 9 million rentable square feet, reinforcing its position as a leading player in the self-storage industry. Simply Self Storage is a US-based company specializing in self-storage platforms.
Major companies operating in the self storage market are U-Haul, Public Storage, Extra Space Storage, CubeSmart, Life Storage Inc., National Storage Affiliates Trust, Shurgard Self Storage, Storage Solutions, Big Yellow Self Storage Company, Safestore, SmartStop Self Storage, StorQuest Self Storage, Metro Self Storage, StorageMart, Simply Self Storage, Prime Storage, iStorage, Westport Properties, Global Self Storage Inc., Lok'nStore, Central Self Storage, Metro Mini Storage.
North America was the largest region in the self storage market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the self storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the self storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Self-storage is a service where individuals or businesses can rent storage space to keep their belongings. These spaces come in various sizes and are typically rented on a monthly basis, offering a flexible solution for additional storage needs. The industry serves a diverse clientele, including people who are moving and businesses that need to store inventory or documents.
Self-storage options include climate-controlled units, portable storage, and traditional storage units. Climate-controlled units feature heating and cooling systems that maintain stable temperatures and humidity levels, making them suitable for storing sensitive items such as electronics, artwork, and important documents that need protection from extreme weather. Storage unit sizes range from small to large, accommodating different needs such as household and personal storage, business storage, and vehicle storage. The end users include commercial, industrial, and residential customers.
The self-storage market research report is one of a series of new reports that provides self-storage market statistics, including self-storage industry global market size, regional shares, competitors with a self-storage market share, detailed self-storage market segments, market trends and opportunities, and any further data you may need to thrive in the self-storage industry. This self-storage market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The self-storage market consists of revenues earned by entities by providing services such as access services, unit rental, convenience service, specialized storage, and business storage solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Self Storage Market Characteristics3. Self Storage Market Trends and Strategies32. Global Self Storage Market Competitive Benchmarking33. Global Self Storage Market Competitive Dashboard34. Key Mergers and Acquisitions in the Self Storage Market
4. Self Storage Market - Macro Economic Scenario
5. Global Self Storage Market Size and Growth
6. Self Storage Market Segmentation
7. Self Storage Market Regional and Country Analysis
8. Asia-Pacific Self Storage Market
9. China Self Storage Market
10. India Self Storage Market
11. Japan Self Storage Market
12. Australia Self Storage Market
13. Indonesia Self Storage Market
14. South Korea Self Storage Market
15. Western Europe Self Storage Market
16. UK Self Storage Market
17. Germany Self Storage Market
18. France Self Storage Market
19. Italy Self Storage Market
20. Spain Self Storage Market
21. Eastern Europe Self Storage Market
22. Russia Self Storage Market
23. North America Self Storage Market
24. USA Self Storage Market
25. Canada Self Storage Market
26. South America Self Storage Market
27. Brazil Self Storage Market
28. Middle East Self Storage Market
29. Africa Self Storage Market
30. Self Storage Market Competitive Landscape and Company Profiles
31. Self Storage Market Other Major and Innovative Companies
35. Self Storage Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Self Storage Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on self storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for self storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The self storage market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Climate-Controlled Units; Portable Storage; Traditional Storage Units2) By Storage Unit Size: Small Storage Unit; Medium Storage Unit; Large Storage Unit
3) By Application: Household And Personal Storage; Business Storage; Vehicle And Car Storage
4) By End Users: Commercial; Industrial; Residential
Key Companies Mentioned: U-Haul; Public Storage; Extra Space Storage; CubeSmart; Life Storage Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | October 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 63.58 Billion |
Forecasted Market Value ( USD | $ 86.05 Billion |
Compound Annual Growth Rate | 7.9% |
Regions Covered | Global |
No. of Companies Mentioned | 23 |