DUBLIN--(BUSINESS WIRE)--The "Self Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global self storage market reached a value of US$ 51.32 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 71.37 Billion by 2027, exhibiting a CAGR of 5.65% during 2021-2027.
Companies Mentioned
- Aecom
- CubeSmart
- Life Storage Inc.
- Metro Storage LLC (Find Local Storage)
- National Storage
- Public Storage
- Safestore
- Simply Self Storage
- StorageMart
- U-Haul International Inc. (AMERCO)
- Urban Self Storage
- World Class Capital Group LLC.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Self-storage refers to a unit of space within a building, or large warehouse rented to tenants for storing personal possessions, often on a short-term basis. It consists of individual enclosed compartments commonly available in small, medium and large variants. It is walled with concrete cinder blocks and corrugated metal and is secured by the renter's lock and key.
Self-storage space is widely used for storing equipment and house decor, parking vehicles, document archiving, relocating spaces, additional inventory, and decluttering homes. Apart from this, it aids in reducing clutter, systematically organizing items, facilitating hoarding, ensuring safety and offering reliable, flexible and secure storage facilities.
The increasing rate of urbanization across the globe and improved economic outlook, specifically in emerging economies, are creating a positive outlook for the market. Self-storage spaces are widely adopted by urban populations due to the rising instances of them moving around more frequently and the increasingly expensive living spaces in cities with a reduced wandering area. In line with this, the rapidly increasing global population is facilitating the demand for additional storage as families expand with more material possessions, thus favoring the market growth.
Apart from this, the integration of artificial intelligence (AI) and the Internet of Things (IoT) to monitor all storage units, improve marketing effectiveness, increase occupancy, and enhance the tenant experience, are providing an impetus to the market growth.
Moreover, the rising product adoption for business and commercial needs, such as storing seasonal promotional material or printers that are not required on a regular basis, are positively impacting the market growth. Besides this, the coronavirus disease (COVID-19) pandemic also positively impacted the market as the shift toward a remote work model drove up the demand for self-storage to cut out on rents on spaces.
Other factors, including the rising expenditure capacities of consumers, increasing product demand during house clearance activities, and significant expansion of small businesses, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
- How has the global self storage market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global self storage market?
- What are the key regional markets?
- What is the breakup of the market based on the storage unit size?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global self storage market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Self Storage Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Storage Unit Size
7 Market Breakup by End Use
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/w5dbd9
