Countries covered: United States
This $18.3 billion profitable but fragmented service industry has posted strong growth in 2005 and 2006, prior to the sub-prime real estate meltdown. However, this is NOT a recession-proof sector, as evidenced by the 5% decline in sales in 1990. Growth is likely to slow considerably this year. Demand for parking spaces is influenced by the price of gas (expected to hit $4/gal. by summer), white-collar employment levels, commercial vacancy rates in metro areas, and even weather.
2008 will be a challenge, as office vacancy rates began to rise for the first time in four years and commercial real estate now feels the ripple effects of the credit crunch. All of this is analyzed in detail by the only market study covering both the private and public parking lots and garages sector.
The industry’s 40,000 facilities are divided into privately owned parking facilities and those in the “public” sector (at airports, municipal buildings, hospitals, colleges). This 4th edition study covers: industry size (1987-2012 forecast, 2007-2008 performance and outlook), automated parking technologies, how garages are operated (contract types), latest Census data/industry ratios for private garages (national, state, city), factors affecting demand (parking garage construction, gas prices, the economy, commercial/office construction and vacancy rates). The study
contains profiles of the leading chains (Standard Parking, Central Parking, AMPCO System Parking, Impark). Also includes findings of new 2007 survey of NPA members/operating ratios of private facilities. Study contains 80 tables & charts.
|
- Introduction - Study Scope, Methodology, Sources Used
- Nature of The Business - How Parking Garages Operate
-
- * Discussion of industry characteristics, evolution from 1960s to current day, relation of garage operators to developers, industry structure (public/private facilities), factors affecting demand, privatization of government parking, how garages operate (costs, fees, construction costs per space), major industry trade groups that exist, types of contracts used (mgmt. contracts, leases, fee ownership), typical staff
- Executive Overview of Major Findings
- * Highlights of ALL chapters: nature of the business, estd. number of parking garages in U.S., how they operate, types of contracts, major trends affecting the industry (prospects for a recession, pricing, commercial construction, office vacancy rates, absor-ption), findings of Dec. 2007 survey of NPA members (major issues affecting operators, 2006-2008 growth expectations, etc.), industry $ size/growth (industry receipts 1987-2012 forecast, 2006-2007 performance, 2008 outlook, rationale, positives/negatives), latest Census Bureau ratios (2002 vs. 1997 5-yer trends; no. of facilities, firms, avg. receipts per establishment, top 50 firms’ market share, top states/cities receipts, legal format of firms, single/multi-unit operations.
- Factors Affecting Demand, Industry Trends
- * Summary of main factors affecting demand for parking garage services: discussion of economy/recession in 2008, rates/pricing (Colliers survey data)
- * Private, nonresidential construction status report: 2008 outlook (universities, hospitals, suburban sectors bright spots, CB Richard Ellis trends)
- * Parking garage construction status report: 2003-2007 no. of parking garage starts, effect of commodity price increases, avg. garage size built, avg. no. spaces for garages built by airports, educational, medical, most active regions, other indicators. Comparison to new garage starts and $ value new construction 1998-2000, select findings of Parking Market Research Co. reports.
- * Office building vacancy and net absorption rates: analysis and outlooks by: CB Richard Ellis, Cushmand & Wakefield, Property & Portfolio Research (national % rates 2007, major city rates).
- * Analysis of existing commercial floor space in the U.S., by bldg. activity, national & major metro area inventory of space (2003).
- * Other Industry Trends: discussions of: industry consolidation, role of investors, automation and payment technology (IPI survey findings: access/revenue control technologies, payment media, smart cards, cellular, etc.), increased professionalization, current issues of concern, international expansion, privatization of government operations, expansion of ancillary services (off-airport parking, valet services, security services., etc.)
- Tables:
- - Value of parking lot construction (private, public, total nonres.): 1997-2007
- - Office vacancy rates, by quarter 2007 vs. 2006 (downtown, suburban, metro)
- - Top 10 city office markets, ranked by amount of floor space
- - Value of new non-residen. construction mid-2007, by type bldg. (office, commercial, healthcare, educational, lodging, etc.)
- - Value of private non-residential construction put in place: 1993-2007
- - Markets with highest/lowest office vacancy rates, Q2 2007 (downtown, suburbs, metro)
- - Number of commercial buildings, by region & floor space: 1986-2003
- - Number of commercial buildings, by size of building: 2003
- - Private vs. public sector garage use by type (retail, office, general use, etc.)
- Results of NPA Private Parking Facility Mail Survey (Nov./Dec. 2007)
- * Summary & scope of the survey, sample survey
- Topics/Ratios Covered
- - Most important issues/problems affecting operators today
- - expectations for a 2008 recession
- - future growth areas, where new revenues will come from
- - percent of facilities owned, leased, managed
- - 2006 & 2007 percent increase in receipts
- - Expected sales increase for 2008
- - types of facilities in which parking garages operate (office, retail, etc. - percent)
- - Total operating expenses as % of receipts (2005, 2006)
- - Percent of 2006 revenues derived from covered parking vs. surface lots, valet services
- - Average hourly wages, by job function (parking attendants, valets, cashiers, facility supervisors, office/clerical - 2004 vs. 2006 % changes)
- - Capital investment - expected investment in automated equipment/upgrades for 2007-08
- - Average number of covered parking stalls operated
- - Percent of revenues generated, by source - 2006.
- - Historical data from 2004 Marketdata survey (topics as above).
- * Samples of survey form and letters to NPA members.
- Size & Growth Of The Industry
-
- * Summary & discussion of industry receipts data by Census Bureau (limitations and accuracy), reported receipts for 1987-2005 from Service Annual Survey, definition of what receipts include/exclude, garage gross receipts vs. management fee income, how other industry analysts and large chains estimate industry size, analysis of lagged effect of commercial construction on industry receipts
- * Discussion of 2006 performance, estimated growth based on NPA member survey
- * 2007 estimates/performance: 2006-2007 sales growth of AMPCO, Standard Parking, positive/negative factors affecting growth (gas prices, economy, office vacancies, other)
- * 2008 outlook & forecast: rationale for Marketdata forecasts, historical growth and during past recessions, economic outlook.
- * 2012 long-term forecast: Discussion of factors affecting growth (weather, the economy, price of parking, office vacancy rates, ancillary services, pricing, intl. mkts., more)
- Tables:
- - $ Value of industry receipts from Dept. of Commerce Service Annual Surveys (1987-2005)
- - Marketdata’s estimates of the true size of the industry (1987-2012 F), $ value and annual % changes.
- Economic Operating Performance & Key Ratios
- (2002, 1997, 1992 U.S. Census Bureau data)
- * Summary & Analyses (1997 vs. 2002 5-year changes) - discussions of auto parking garages by.... number of garages, no. of parking spaces in U.S., parking lots vs. structures, avg. annual receipts per garage and per space, avg. receipts per employee, annual payroll/employee, ratios by: legal form of company, concentration levels, single vs. multi-site companies, garages by revenue size of facility, garages by revenue size of firm, national/state distribution (top states' and cities’ share of U.S. sales), top 10 cities with highest avg. receipts per garage, top 50 firms’ share of industry receipts, growth in no. of garages & receipts for top
-
- Census Tables:
- - 2002/1997 comparative ratios (estabs., receipts, receipts/payroll per employee)
- - Parking lots and garages, by employment size (1998-2001)
- - Parking garages, by legal form of organization: no. of establishments, receipts, payroll as % receipts (2002, 1997)--corporations, sole proprietorships, partnerships
- - Industry concentration ratios (share of mkt.) -- top 50 firms (2002, 1997): no. of estabs., receipts, payroll as % sales, for top 4, 8, 20, 50 firms
- - Parking garages, by single vs. multi-unit firms: no. of firms and estabs., annual receipts, payroll as % receipts, 1-10 or more facilities (2002, 1997)
- - Parking garages, by annual receipts size of firms, receipts from $100 million to less than $100,000: no. of firms, estabs., annual sales, payroll, no. of employess (2002, 1997)
- - Parking garages, by receipts size of facility: sales size classes under $10,000 to $10+ million, no. of estabs., receipts, share of receipts, payroll as % receipts (2002, 1997)
- - Number of auto parking garages by state, no. of facilities, receipts, avg. receipts per facility
- - Top states, by parking garage receipts, % US total (2002, 1997)
- - Annual receipts per parking garage, by major city (2002, 1997)
- Profiles Of Some Leading Parking Companies
- (In-depth profiles, covering: 3-5 year revenues when available, company structure, history, operations and services, divisions/subsidiaries, no. of facilities, recent acquisitions, list of facilities, headquarters address, etc. for each company below.)
- * Summary of top 4 companies’ 2007 sales, plus in-depth profiles for:
- * AMPCO System Parking (ABM Industries)
- * Standard Parking
- * Central Parking Corp.
- * Impark
-
- Reference Directory Of Industry Trade Associations, Journals, Consultants, Other Sources
- * List of parking industry national/regional trade associations, journals, consulting firms, brokerage analysts, other key contacts -- address & phones, description of activities.
More United States Facilities Management Reports
Linen & Uniform Supply Services by
First Research, Inc.
Brief Excerpt from Industry Overview Chapter: The US linen and uniform supply services industry includes about 1,100 companies with combined annual revenue of about $11 billion. ...
Business Services Sector by
First Research, Inc.
Brief Excerpt from Industry Overview Chapter: The US business services sector consists of about 340,000 companies with combined annual sales of about $580 billion. Major companies ...
Janitorial & Carpet Cleaning Services by
First Research, Inc.
Brief Excerpt from Industry Overview Chapter: The US janitorial services and carpet cleaning industry consists of about 50,000 janitorial companies and about 9,000 carpet and upholstery ...
Exterminating & Pest Control Services by
First Research, Inc.
Brief Excerpt from Industry Overview Chapter: The US pest control services industry includes about 12,000 establishments (single-location companies and branches of multi-location companies) with combined annual ...
Parking Lots & Garages in the US - Industry Risk Rating Report by
IBISWorld
This Industry Risk Ratings report from IBISWorld evaluates the inherent risks associated with the Parking Lots & Garages in the US industry. Industry Risk is ...
See all reports like this >>
More United States Reports
e-Discovery Software Publishing in the US - Industry Market Research Report by
IBISWorld
e-Discovery Software Publishing in the US Finding growth : Electronic discovery (more often known as e-discovery) refers to a data search, location and securing process for use ...
D&B Country RiskLine Report: The United States of America by
Dun & Bradstreet Inc.
This D&B Country RiskLine Report will help you analyze the risks, opportunities and likely payment delays when doing business in this country. It includes ...
D&B Country Report: The United States of America by
Dun & Bradstreet Inc.
D&B Country Report. Comprehensive information for evaluating risks and opportunities when trading or investing in this country. Providing critical information and analysis on ...
Country Report United States January 2011 by
Economist Intelligence Unit
Country Reports analyse political and economic trends in featured countries. They show you exactly how national, regional and global events will affect your business in ...
Coal - US - a snapshot (2010) by
Mintel - Snapshots
Coal in US by Mintel Global Market Navigator provides you with annual year-end market size data, most recently updated in 2010. This market covers consumption ...
See all reports like this >>
Share this report
Other tasks Related Markets Facilities Management Reports Free Alert Me service Receive bi-weekly email alerts on new market research Sign Up Today!
|
