Feb 11, 2021 (The Expresswire) -- Global “ Self Storage Market ” Report 2021 contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, rate of growth, and key regions. The Self Storage market growth is predicted to register a CAGR of 7.5% during the forecast period. Self Storage Market reports offer an in-depth assessment of the Self Storage including enabling technologies, current market scenario, market assumptions, restraining factors.
"Final Report will add the analysis of the impact of COVID-19 on the Self Storage industry."
The report considers the revenue generated from the sales of this report and technologies by various application segments like an extensive assessment of key drivers, driving business players, key portions, and areas. Aside from this, the specialists have profoundly considered distinctive geological territories and introduced a significant situation to assist new participants, driving business players, and speculators to make a decision developing economies.
Self Storage Market Report covers the Top Key-players 2021:-
● U-Haul ● Life Storage Inc. (Formerly Sovran Self Storage Inc.) ● CubeSmart ● National Storage Affiliates ● Safestore ● Simply Self Storage ● StorageMart ● Prime Storage Group ● W. P. Carey Inc. ● Metro Storage LLC ● SmartStop Asset Management LLC ● World Class Capital Group LLC ● National Storage REIT ● All Storage Online ● Amsdell Companies ● Urban Self Storage Inc.
The global Self Storage market covers the vision of competitor analysis by product types, market share, applications, sales, and revenue.
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The Self Storage market is expected to register a CAGR of over 7.5%, during the forecast period (2018 - 2023).
The self storage industry is a sub-sector of the commercial real estate market. The growth in this industry is expected to be positive during the forecast period, due to the trend of increased urbanization and improved economic outlook, across regions, which lead to new business growth. Population growth and an increase in consumer spending of the urban population, resulting in increased possessions, also creates the demand for the more self storage. The prevailing trend in the e-commerce sector, of opening physical stores for pick-up and delivery, also supports the growth of the self storage market. Along with the rising e-commerce, niche service demands, like climate controlled environment and specialized spaces for sports equipment, across many regions, also provides many growth opportunities in the self storage market. This market is fragmented with a lot of players entering into the market space. This is because the market is in its nascent stage and has not been fully explored yet.
Business Storage is Expected to be the Fastest Growing Segment
The personal storage segment in the self storage market is expected to register the highest share, considering the critical demand driver of the market, urbanization. Due to the rising urban population from 1970 through 2018, growth in the consumer spending on goods and services is facilitating the need for storage spaces. It is estimated that global spending on goods and services may increase from USD 28 trillion in 2010, with a CAGR of 3.77%. Therefore the personal storage segment of the self storage market is expected to witness a positive demand, throughout the forecast period. However, considering the rise in e-commerce sector and need to open physical stores in the highly competitive marketplace, a growth in the business self storage segment can be expected, during the forecast period.
North America is Expected to occupy Significant Self Storage Market Share
High disposable income regions, like the United States, the United Kingdom, New Zealand, and Australia are more established in the self storage market, due to high demand. These countries are reaching maturity in the self storage market and are, therefore, expected to register slow growth rates, comparatively. North America registered the highest share in the self storage market, in 2017, as it had the highest number of self storage facilitates (ranging between 44,000 and 52,000 storage facilities in the United States alone). In 2018, the fastest growing region is estimated to be Asia-Pacific. Forecast to be the highest urbane population, by 2030, and having a substantial share in global consumer spending in addition to the economic outlook makes it the fastest growing segment in the self storage market, considering the amount of lettable floor area and average home size in the region.
Major Players: U HAUL INTERNATIONAL INC., CUBESMART, PUBLIC STORAGE, SAFESTORE, EXTRA SPACE STORAGE, SOVRAN SELF STORAGE INC. (LIFE STORAGE INC.), NATIONAL STORAGE AFFILIATES, SIMPLY SELF STORAGE, STORAGEMART, PRIME STORAGE GROUP, W. P. CAREY INC., METRO STORAGE LLC and STORAGE TREASURES LLC, among others.
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