CLEVELAND, November 3, 2021 / PRNewswire / – US self-storage and moving service revenues to grow 2.5% p.a. in nominal dollars, according to Self-storage and moving services: United States, a report recently published by Freedonia Focus Reports. Service providers will benefit from increased mobility, as residents and businesses relocate in response to the economic recovery as well as the ongoing economic changes resulting from the COVID-19 pandemic. Industry participants will continue to benefit from the needs of households, businesses and government for additional storage space. Faster gains will be limited by a competitive environment that leads to downward pressure on prices, as this industry does not have high barriers to entry. However, as more and more geographies become saturated with participants, the quality of service will become an increasingly important competitive factor, supporting price and revenue growth. Self-storage companies are increasingly turning old malls and department stores into storage facilities in areas of high demand, providing a convenient location for consumers while avoiding the cost of building entirely new facilities. .
Revenue is expected to increase nearly 12% in 2021, while home sales are expected to increase 17%. Low interest rates and high disposable income are expected to continue to encourage relocations, while work-from-home practices allow workers who were once geographically tied to their place of work to relocate. Many companies are now able to reduce their commercial space, thus encouraging relocations. In addition, the lifting of the moratorium on evictions put in place during the COVID-19 pandemic has prompted some people to move out of necessity.
This and other key information is presented in Self-storage and moving services: United States. This report forecasts the US self-storage and moving services revenue through 2021 and 2025 in nominal US dollars. Total revenues are segmented by type of service in terms of:
- air-conditioned self-storage
- non-air-conditioned self-storage
- full service move
- DIY moving truck rental
Total revenues are also segmented by region as follows:
- Where is
To illustrate historical trends, total revenue and different segments are provided in annual series from 2010 to 2020.
Self-storage and moving services include fixed and mobile self-storage as well as full-service DIY and moving truck rentals. Self-storage services also include establishments that provide storage for boats, recreational vehicles and automobiles. In this report, âemployeesâ are defined to include all those who work in the industry, whether they are owners / workers or employees / workers. In addition, the revenues of both employer and non-employer establishments are included in this report.
More information on the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new and updated Freedonia Focus reports providing fresh and unbiased analysis across a wide variety of markets and industries. Published in 20 to 30 pages, the Focus report covers raw materials, finished manufactured goods and related services such as freight and construction. Additional reports on services and industries can be purchased from Freedonia Focus Reports or MarketResearch.com.
The analysis aims to guide the busy reader through relevant topics in rapid succession, including:
- total historical market size and industrial production
- segmentation by products and markets
- identification of market drivers, constraints and key indicators
- segment by segment outlook in the five-year forecast
- a supply base survey
- suggested resources for further study
SOURCE The Freedonia Group