How do self-storage units work?
The self storage refers to the storage space rented to tenants often on a short-term basis. The industry is a sub-division of the commercial real-estate market. The rapid urbanization and migration of people to different metropolitan areas for jobs and other purposes have drastically resulted in the demand for self storage units. There has been a significant rise in the investment activity in the self-storage sector, particularly in the Asia Pacific region in recent years.
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The self storage market is expected to soar in the forecast period owing to driving factors such as rapid urbanization. Furthermore, the growth of small businesses and the e-commerce industry is further likely to fuel market growth. However, strict government regulations are expected to negatively impact the growth of the self storage market during the forecast period. On the other hand, an improved economic outlook is likely to offer significant growth opportunities for the key players of the self storage market in the future.
Top Key Companies:
- AECOM
- CubeSmart
- Life Storage, Inc.
- Prime Storage Group
- Public Storage
- Safestore Holdings Plc
- Simply Self Storage Management LLC
- StorageMart
- Urban Self Storage
- U-Haul International, Inc.
The report analyzes factors affecting self storage market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the self storage market in these regions.