Since it can benefit from both economic upturn and downturn, the industry performed relatively well through the recession. Business loss, due to decreasing disposable income levels, was mitigated by the need for many people to temporarily store household goods and furniture while they either downsized homes or rented smaller apartments to save money. Since then, the industry has grown steadily, in tandem with the strengthening economy. Over the next five years, the industry will continue to reap the benefits of an improving economy. Demand for storage units is expected to continue growing alongside consumer confidence and consumer spending
This industry primarily rents or leases space for self-storage. These establishments provide secure space where customers can store and retrieve their belongings at their convenience. Industry storage units include rooms, compartments, lockers, containers and outdoor space.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.