Market research predicts 6.7% growth for Self Storage Market
Global Self Storage Market is valued at USD 78.21 Billion in 2019 and expected to reach USD 123.14 Billion by 2026 with the CAGR of 6.7% over the forecast period.
Growing urbanization is one of the significant factors driving the Global Self-Storage Market growth.
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Scope of Global Self Storage Market Analysis Report–
Self-storage is a system by which individuals or businesses rent units to store their goods remotely, usually when they do not have the space on their own premises. A self-storage business provides storage rooms, lockers and outdoor space for rent. They rent self-storage spaces to individuals and small businesses. Instances of such things to store here are outdoor furniture, heavy tools, sporting equipment and automobiles. Industries such as PODS offer this type of storage. They deliver a container to home or business. After filled, they call them back to pick it up and store it in their warehouses. Self-storage units are favorable for business as well as individuals. It is a fast growing sector of small business and real estate and it can be highly profitable if get it right. This storage business plan describes a proposed self-storage facility to be established in Westbury, New York involving the conversion of an existing building.
Global Self Storage Companies–
Global Self Storage industry analysis Report covers prominent players are like National Storage Affiliates, Life Storage Inc., U-Haul International, Inc., Metro Storage LLC, Simply Self Storage, Urban Self Storage Inc., World Class Capital Group LLC, CubeSmart, LP, Safestore Holdings PLC, StorageMart, Prime Storage Group, SiteLink Software LLC, SmartStop Asset Management LLC, W. P. Carey Inc., All Storage, National Storage REIT, Amsdell Cos. /Compass Self Storage and others.
News
U-Haul Introduced Self-Storage Scan & Go Technology in Response to COVID-19
April 21st, 2020; Phoenix-based U-Haul International Inc., which operates more than 1,500 self-storage facilities across North America, is introducing contact-free shopping technology across its Canada and U.S. properties in response to the coronavirus (COVID-19) pandemic. The company’s new Scan & Go system will allow self-storage tenants to use their own mobile device to scan products when they shop inside U-Haul retail showrooms and then check out without having to interact with staff, according to a press release.
Global self-storage market report is segmented on the basis of type, application and region & country. Based upon type, self-storage market is classified as long-term lease and short-term lease. Based upon application, self-storage market is classified into personal and business.
The regions covered in this Global 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, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Growing Urbanization is one of the Significant Factors Driving the Self- Global Self Storage Market Segmentation:–
By Type: Long-term lease, Short-term lease
By Application: Personal, Business
Storage Market Growth.
Growing urbanization is one of the significant factors that are positively driving the self-storage market growth. The growing urban population means smaller and increasingly expensive living spaces in cities and the creation of more renters who move around more frequently. Though the industry has committed to using population growth and density as metrics for understanding self-storage demand, from an analytic perspective, these show no correlation to self-storage growth. According to World health organization, 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. Also, the UN World Urbanization Predictions estimates that on the number of people globally who live in urban and rural areas. In 2017, 4.1 billion people were living in urban areas.
North America is Expected to Dominate the Global Self Storage Market
North America is expected to dominate the growth of the global self-storage market. The growth of small businesses and the e-commerce industry is further likely to fuel self-storage market growth in this region. There are 28.8 million small businesses in the United States, according to the U.S. Small Business Administration, and they have 56.8 million employees. Small businesses account for 99.7% of all business in the U.S. Additionally, Multiple economic indicators consistently signaled a strengthening US economy in 2018. In the third quarter of 2018, the United States grew at an annual rate of 3.4%. The United States’ 2017 growth rate of 2.2% was up from the 2016 rate of 1.6%. Europe is second largest region in the global self-storage market owing to the increasingly expensive living spaces in cities and the creation of more renters who move around more frequently in this region.
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