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Global Self-storage market to reach USD 69.6 billion by 2027

Global Self-storage market to reach USD 69.6 billion by 2027

Product Code: OIRBC-59732081
Publish Date: 11-07-2021
Page: 200

Global Self-storage market is valued at approximately USD 48.02 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.45 % over the forecast period 2020-2027. Due to trends of rising urbanization and improving economic outlook throughout the regions, this market is predicted to grow at a good rate during the projection period. With more renters who move around more frequently, cities with a growing urban population have smaller and increasingly expensive living areas. London is an example of this tendency, with a population of 9.3 million expected to reach a new all-time high in 2020. By 2030, the population is expected to exceed 10 million. Another factor that has contributed to the unexpected increase in demand for self-storage is the COVID pandemic. During the COVID-19 crisis, unemployment rates in the United States and around the world have been rising. As a result, jobless tenants who are unable to pay rent have an influence on residential landlords, as these renters return to their homes with their families or emigrate. Since lockup limitations were relaxed in 2020, easyStorage in London recorded a 25 percent increase in monthly inquiries, as some people sought to empty a room to make place for a home office setup, while others decluttered their living quarters. According to the company, in addition to multiple house transfers, marriage/couple separations, and deaths may have also contributed to the increase in demand. However, government regulations on storage may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global Self-storage market is considered for the key regions such as Asia Pacific, Latin America, North America, Europe, and Rest of the World. Asia Pacific is the leadingregion across the world in terms of market share due to increasing public awareness, and the lack of specialist self-storage REITs in the region. Whereas North America is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growing trend of the population moving to smaller houses to accommodate for more housing across APAC.
Major market player included in this report are:

U-Haul International Inc.
Life Storage Inc.
CubeSmart LP
National Storage Affiliates
Safestore Holdings PLC
Simply Self Storage Management LLC
Prime Storage Group
WP Carey Inc.
Metro Storage LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By User Type:
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.

Target Audience of the Global Self-storage market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Self-storage market , by Region, 2019-2027 (USD Billion)
1.2.2. Self-storage market , by User Type, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Self-storage market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Self-storage market Dynamics
3.1. Self-storage market Impact Analysis (2019-2027)
3.1.1. Market Drivers Increased urbanization coupled with smaller living spaces Changing business practices and consumer behavior Due to COVID-19
3.1.2. Market Restraint Government regulations on storage
3.1.3. Market Opportunities Increasing urban population
Chapter 4. Global Self-storage market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Self-storage market , by User Type
5.1. Market Snapshot
5.2. Global Self-storage market by User Type, Performance – Potential Analysis
5.3. Global Self-storage market Estimates & Forecasts by User Type 2018-2027 (USD Billion)
5.4. Self-storage market , Sub Segment Analysis
5.4.1. Personal
5.4.2. Business
Chapter 6. Global Self-storage market , Regional Analysis
6.1. Self-storage market , Regional Market Snapshot
6.2. North America Self-storage market
6.2.1. U.S. Self-storage market User Type breakdown estimates & forecasts, 2018-2027
6.2.2. Canada Self-storage market
6.3. Europe Self-storage market Snapshot
6.3.1. U.K. Self-storage market
6.3.2. Germany Self-storage market
6.3.3. France Self-storage market
6.3.4. Spain Self-storage market
6.3.5. Italy Self-storage market
6.3.6. Rest of Europe Self-storage market
6.4. Asia-Pacific Self-storage market Snapshot
6.4.1. China Self-storage market
6.4.2. India Self-storage market
6.4.3. Japan Self-storage market
6.4.4. Australia Self-storage market
6.4.5. South Korea Self-storage market
6.4.6. Rest of Asia Pacific Self-storage market
6.5. Latin America Self-storage market Snapshot
6.5.1. Brazil Self-storage market
6.5.2. Mexico Self-storage market
6.6. Rest of The World Self-storage market
Chapter 7. Competitive Intelligence
7.1. Top Market Strategies
7.2. Company Profiles
7.2.1. U-Haul International Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
7.2.2. Life Storage Inc.
7.2.3. CubeSmart LP
7.2.4. National Storage Affiliates
7.2.5. Safestore Holdings PLC
7.2.6. Simply Self Storage Management LLC
7.2.7. StorageMart
7.2.8. Prime Storage Group
7.2.9. WP Carey Inc.
7.2.10. Metro Storage LLC

Chapter 8. Research Process
8.1. Research Process
8.1.1. Data Mining
8.1.2. Analysis
8.1.3. Market Estimation
8.1.4. Validation
8.1.5. Publishing
8.2. Research Attributes
8.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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