Global Self Storage Market size was USD 63.60 Billion in 2022. Covid-19 impacts have been unprecedented and staggering on a global scale. With the pandemic leading to positive demand shocks for the Self-Storage Market across all domains and region between 2023 and 2031. The market is projected to grow at a CAGR of 6.7% from USD 67.82 billion in 2023 to USD 133.78 Billion in 2031 according to a new report by Intellectual Market Insights Research. The Sudden rise in CAGR is attributed to this market growth returning to the pre-pandemic level once the pandemic is over.
The global self-storage market provides storage space on a rental basis to individuals and businesses. These facilities offer secure, climate-controlled, and accessible storage units in various sizes for customers' needs.
Self-storage facilities provide a range of storage solutions, such as vehicle storage, household goods storage, commercial storage, document storage, and more. They are usually located in urban and suburban areas and offer short-term to long-term rental leases.
The demand for self-storage facilities has increased due to growing urbanization, rising consumerism, and changing lifestyles. The trend of downsizing has also contributed to this growth as people look for alternative storage solutions. E-commerce has increased the demand for commercial storage solutions for secure and cost-effective inventory storage.
The global self-storage market is expected to continue to grow due to increasing demand and new technological advancements.
The Self Storage market research report comprises a thorough examination of the current and future scenario of this industry vertical. The research highlights major trends and opportunities, as well as challenges, for various segments and sub-segments, while broadening the company horizon. The study report also includes extensive information based on past and present patterns across several industry verticals to help find various expansion prospects. Throughout the forecast period, several estimations regarding market share, market size, and industry growth rate are presented. The research includes information on competitive analysis as well as consumption habits and pricing strategies depending on the Self Storage market.
Scope of Self Storage Market Report:
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Self Storage Market. On the basis of historic growth analysis and current scenario of Self Storage market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Self Storage market. This further helps users with their developmental strategy.
This report examines all the key factors influencing growth of global Self Storage market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Self Storage market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.
The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
Self Storage Market Drivers:
There are several factors driving the development of the self-storage industry, including:
Increasing Urbanization are Driving Demand for Market
As more people move to urban areas, living spaces tend to become smaller, and the need for additional storage space increases. Urbanization is driving the growth of the self-storage market as people need secure and accessible places to store their belongings. According to the World In Data Organization in 2022, the total population reached around 7.70 billion and urban population reached about 4.2 billion in the urban region. The global urban population has surpassed more than 55% in 2022.
Growing E-Commerce Industry Is Expanding Across Business Applications
The growth of online shopping and e-commerce has increased the demand for commercial storage solutions. Businesses need secure and cost-effective ways to store their inventory and products, which has led to an increase in demand for self-storage facilities that cater to commercial storage needs.
Self Storage Market Trends:
The Market Tendency is being Fuelled by the Increasing Adoption of Technology
The self-storage industry is increasingly adopting technology to improve the customer experience and increase operational efficiency. This includes the use of mobile apps to manage reservations, payments, and unit access, as well as the use of automation and data analytics to improve facility management and security.
Expansion of Services and Amenities is Driving the Market Trend.
Self-storage facilities are expanding their services and amenities beyond traditional storage units to attract and retain customers. This includes the addition of services such as package delivery, moving truck rentals, and on-site retail sales, as well as amenities such as climate-controlled units, advanced security systems, and Wi-Fi access.
Overall, these trends reflect a growing focus on customer experience and convenience in the self-storage industry, as well as a recognition of the need to adapt to changing consumer expectations and behaviours.
Self Storage Market Restraining Factors:
Market growth is being hampered by Economic downturns.
Economic downturns can have a negative impact on the self-storage market, as people may be less likely to spend money on additional storage space when they are experiencing financial uncertainty. During economic downturns, demand for self-storage may decrease, which can lead to lower occupancy rates and revenue for self-storage facilities.
Regulatory hurdles Restraints the market growth
The self-storage industry is subject to various regulations and zoning laws that can create barriers to entry for new facilities or limit the expansion of existing ones. Additionally, changes in regulations can increase operating costs for self-storage facilities and limit their ability to generate revenue.
Overall, these restraining factors can have a significant impact on the self-storage market, limiting growth and profitability for self-storage facilities.
The report will cover the qualitative and quantitative data on the global self storage market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country and segments according to your requirements. We can also provide customize report in every industry vertical.
Report Scope And Segmentations:
Estimated Forecast Year
CAGR of 6.7 % From 2023 To 2031
Type of customer, Unit size, application, Location, Rental duration , Service level , Customer behaviour, Application ,End user and regions.
Type of customer
- Residential Customers
- Commercial Customers
- Military Customers
- Short Term Rental
- Long Term Rental
- basic storage
- full-service storage
- premium storage
- First-Time Renters
- Repeat Renters
- Seasonal Renters
- Personal Storage
- Business Storage
- Vehicle Storage
- Small Businesses
- Large Corporations
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Spain, Russia, Rest Of Europe)
- Asia-Pacific (China, India, Japan, Asian, Rest Of Asia-Pacific)
- Rest of the world
The Key Player Strategies in the Market:
- In June 2021, the US-based self-storage company Extra Space Storage announced the acquisition of StorQuest, a self-storage company with 50 locations in 7 states.
- In October 2021, the UK-based self-storage company Safe store launched a new online platform that allows customers to book and manage their storage units remotely.
- In March 2021, the US-based self-storage company Public Storage announced that it had installed solar panels at 39 of its facilities, which will generate over 1.5 million kilowatt-hours of clean energy per year.
- In September 2021, the UK-based self-storage company Big Yellow Group announced the launch of Big Yellow Pallets, a new pallet storage and distribution service.
- In November 2021, the US-based self-storage company Cube Smart announced a partnership with the moving company U-Haul, which will allow Cube Smart customers to rent moving trucks and purchase packing supplies at select Cube Smart locations.
Self Storage Market Players Analysis:
Here is a list of some of the companies profiled in the Self Storage Market:
- Life Storage
- National Storage Affiliates Trust
- Simply Self Storage
- Safestore Holdings
- Storage Mart
- Big Yellow Group
- Metro Storage LLC
- All Storage
- StorQuest Self Storage
- Amsdell Companies
- Iron Mountain Incorporated
- Public Storage
- Extra Space Storage Inc.
Self Storage Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2021-2028 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Self Storage Market Segmentation Analysis:
The global Self Storage Market can be segmented based on several factors, including Type of customer, Unit size, application, Location , Rental duration , Service level , Customer behaviour, Application ,End user and regions.
By Type of customer: The self-storage market can be segmented based on the type of customer, such as residential customers, commercial customers, and military customers. Each customer group has different storage needs and preferences, and self-storage facilities may tailor their services accordingly.
By Unit size: The market can also be segmented based on the size of the storage unit. Some customers may require small units for personal items or documents, while others may need larger units for vehicles or commercial inventory. Self-storage facilities may offer a range of unit sizes to accommodate different needs.
By Location: The self-storage market can be segmented based on geographic location, such as urban, suburban, or rural areas. Self-storage facilities in urban areas may cater to customers with limited living space, while facilities in rural areas may serve customers with outdoor storage needs.
By Rental duration: The self-storage market can be segmented based on rental duration, such as short-term or long-term rentals. Some customers may only need storage space for a few weeks or months, while others may require storage for an extended period. Self-storage facilities may offer flexible rental options to accommodate different rental durations.
By Service level: The market can also be segmented based on the level of service provided by the self-storage facilities, such as basic storage, full-service storage, and premium storage. Each service level may offer different amenities and value-added services to customers.
By Customer behaviour: The self-storage market can be segmented based on customer behaviour, such as first-time renters, repeat renters, and seasonal renters. Self-storage facilities may target each customer behaviour group with different marketing strategies and promotions to attract and retain customers.
By Application: The self-storage market can be segmented based on the application of the storage units, such as personal storage, business storage, and vehicle storage. Each application may require different types of storage units and amenities.
By End user: The market can also be segmented based on the end user, such as individuals, small businesses, and large corporations. Each end user group may have different storage needs and budgets, and self-storage facilities may tailor their services accordingly.
By Region: The self-storage market can be segmented based on geography, such as North America, Europe, Asia Pacific, and Rest of the World. Each region may have different market trends, regulations, and customer preferences, and self-storage facilities may adapt their services accordingly.
Overall, segmentation analysis helps self-storage facilities to better understand their target customers and provide tailored services to meet their unique needs and preferences.
The report also helps in understanding Global Self Storage Market dynamics, structure by analyzing the market segments, and project the Global Self Storage Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Self Storage Market make the report investor’s guide.
Global Self Storage Market Regional Analysis:
North America accounted for the highest xx% market share in terms of revenue in the Self Storage market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Self Storage. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Self Storage companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Self Storage Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
- North America: The North American self-storage market is the largest in the world, with the United States accounting for the majority of the market share. The market is highly competitive, with many large national and regional players. The demand for self-storage in North America is driven by factors such as population growth, urbanization, and changing lifestyles.
- Europe: The self-storage market in Europe is relatively underdeveloped compared to North America, but it is growing rapidly. The region's biggest marketplaces are the United Kingdom, Germany, and France. The demand for self-storage in Europe is driven by factors such as urbanization, small living spaces, and the growing popularity of e-commerce.
- Asia Pacific: The self-storage market in Asia Pacific is the fastest growing in the world, driven by factors such as population growth, urbanization, and rising consumerism. China, Japan, and Australia are the largest markets in the region. The market is fragmented, with many small local players, but there are also some large national and international players entering the market.
- Latin America: The self-storage market in Latin America is still in its early stages, but it is growing rapidly. Brazil, Mexico, and Argentina are the largest markets in the region. The demand for self-storage in Latin America is driven by factors such as urbanization, population growth, and a growing middle class.
Self Storage Market Report is also available for below Regions and Country Please Ask for that
- Rest of Europe
- South Korea
- Rest Of APAC
- Rest of South America
Middle East and Africa
- Saudi Arabia
- South Africa
- Rest Of MEA
Points Covered in the Report:
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Industry Developments:
- In July 2021, the US-based self-storage company Extra Space Storage announced the acquisition of National Storage Affiliates Trust, which added over 700 properties to Extra Space's portfolio.
- In February 2021, the UK-based self-storage company Safestore announced a partnership with the technology company Storekat, which developed a mobile app that allows customers to access and manage their storage units remotely.
- In November 2021, the US-based self-storage company Clutter announced a partnership with the online marketplace OfferUp, which will allow OfferUp users to book Clutter's on-demand storage services directly through the OfferUp app.
- In June 2021, the UK-based self-storage company Big Yellow Group announced that it had installed over 6,000 solar panels across 12 of its sites, which will generate enough clean energy to power over 1,500 homes.
- March 2021, the US-based self-storage company Public Storage announced plans to expand into the Canadian market, with the acquisition of the Canadian self-storage company StorageVault.
Key Reasons to Purchase:
To gain insightful analyses of the Self Storage market and have comprehensive understanding of the global market and its commercial landscape.
Assess the production processes, major issues, and solutions to mitigate the development risk.
To understand the most affecting driving and restraining forces in the market and its impact in the global market.
Learn about the Self Storage market strategies that are being adopted by leading respective organizations.
To understand the future outlook and prospects for the Self Storage market. Besides the standard structure reports, we also provide custom research according to specific requirements.
Research Scope of Self Storage Market:
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2031
- Representation of Market revenue in USD Million
Self Storage Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: