The self-storage industry is a rapidly growing industry, with more and more people turning to self-storage solutions to store their belongings. But what do we really know about the self-storage industry?
In this blog post, we’ll take a look at some of the most interesting statistics about the self-storage industry, including the size of the industry, the number of facilities, and the average rental rates. We’ll also look at the trends that are driving the industry forward, and what the future of the self-storage industry looks like. So, if you’re curious about the self-storage industry, read on to find out more.
Self-Storage Industry: The Most Important Statistics
Gen Xers are more likely to rent self-storage than millennials and Gen Zers, with 54% of them keeping their items in a storage unit compared to 40% and 25%, respectively.
73% of all U.S. self storage facilities are owned by small operators, 18% by public companies and REITs, and 9% by the top 100 operators.
Self-Storage Industry Statistics Overview
StorageCafe reports that self storage has grown to more than 1.6 billion square feet of space in 2023, with 254.9 million square feet of storage space built in the last 5 years, representing 15.5% of the total inventory.
This indicates an increasing demand for storage space, which is likely to result in more investment in the industry.
There are 51,206 self-storage facilities in the US providing 2.04 billion square feet of rentable storage space, equating to 6.1 square feet of storage space per person and 11.1% of households renting a storage unit.
The global self-storage market is projected to be worth 64.71 billion U.S. dollars by 2026, an increase of 33.5% from 2020.
This growth is especially significant in the U.S., where the market accounts for 90% of the global self-storage inventory.
The Global Self Storage Market size was valued at USD 81.25 Billion in 2021, indicating a promising growth opportunity for the industry.
The Self Storage market size was valued at USD 54067.32 million in 2021 and is expected to expand at a CAGR of 7.53% during the forecast period, reaching USD 83572.52 million by 2027.
The global self storage market was valued at US$ 51.32 Billion in 2021 and is projected to reach US$ 71.37 Billion by 2027, with a CAGR of 5.65%.
Gen Xers are more likely to rent self-storage than millennials and Gen Zers, with 54% of them keeping their items in a storage unit compared to 40% and 25%, respectively.
Gen Xers are more likely to use self-storage services than other generations, which could be a potential market for self-storage companies to target.
73% of all U.S. self storage facilities are owned by small operators, 18% by public companies and REITs, and 9% by the top 100 operators.
The majority of self storage facilities are owned by small operators, which is important to consider when looking at the overall industry. This statistic also shows that public companies and REITs have a significant share of ownership, which could be important to consider when looking at the competitive landscape of the self storage industry.
StorageCafe found that furniture is the most common reason why people use self-storage, accounting for 29% of all self-storage usage, followed by clothing (23%), home appliances and equipment (20%), sporting items and hobby gear (10%), business items (6%), vehicles (2%), RVs (1%), and boats (1%).
Self-Storage usage varies by residence type and gender, with studio apartment renters more likely to store clothing than furniture, and men more likely to store sporting items and hobby gear than women.
This information can be used by self-storage companies to better understand their target market and tailor their services to meet their customers’ needs.
The global self-storage market size was valued at $40.66 billion in 2020.
The industry has seen a significant increase in size over the past few years, indicating that it is a lucrative and profitable sector. This statistic is important for anyone interested in the self-storage industry, as it provides a snapshot of the current market size and can be used to inform decisions about investments and strategies.
The self-storage market in the United States is expected to reach $115.62 billion by 2025.
The industry is growing rapidly and is expected to reach a staggering $115.62 billion by 2025. This is a clear indication that the self-storage industry is a lucrative and profitable venture for investors and entrepreneurs alike. It also highlights the importance of understanding the industry and its trends in order to make informed decisions.
The global self-storage industry is anticipated to grow at a CAGR of 132% from 2021 to 2026.
The industry is expected to experience a rapid growth in the coming years, making it an attractive investment opportunity for those looking to capitalize on the industry’s growth. This statistic is a valuable insight into the future of the self-storage industry and can help inform readers of the blog post about the industry’s potential.
There are more than 49,000 self-storage facilities in the United States.
The industry is a major player in the economy, with thousands of facilities providing storage solutions to individuals and businesses alike. This statistic is a great starting point for a blog post about the self-storage industry, as it provides a snapshot of the industry’s size and scope.
The average urban self-storage facility has about 566 units, while rural facilities average around 280 units.
Urban areas have a greater need for self-storage, likely due to the higher population density and the need for more storage space. This statistic can be used to inform decisions about where to open new self-storage facilities and how to market them.
In Europe, there are approximately 4,350 self-storage facilities offering 102.4 million square feet of storage space.
The industry is booming, with an abundance of facilities and a vast amount of storage space available. This is an important piece of information for anyone interested in the self-storage industry, as it provides a clear indication of the industry’s growth and potential.
The European self-storage market has been seeing annual growth rates of around 5-7% in recent years.
This is an important point to consider when discussing the self-storage industry, as it shows that the industry is growing and is likely to continue to do so in the future.
Conclusion
The self-storage industry is a rapidly growing and lucrative business. With the rise of e-commerce and the need for more storage space, the demand for self-storage units is expected to continue to increase.
The industry is highly competitive and the key to success is understanding the industry trends and statistics. By understanding the industry trends and statistics, self-storage owners and operators can make informed decisions that will help them stay ahead of the competition and maximize their profits.
References
1 – https://www.storagecafe.com/self-storage-industry-statistics/#:~:text=Self%20storage%20has%20grown%20to,15.5%25%20of%20the%20total%20inventory.
2 – https://www.sparefoot.com/self-storage/news/1432-self-storage-industry-statistics/
3 – https://www.statista.com/statistics/1036943/self-storage-market-value-worldwide-forecast/
4 – https://www.intellectualmarketinsights.com/report/self-storage-market-size/imi-000024
5 – https://www.globenewswire.com/en/news-release/2022/10/07/2530200/0/en/Self-Storage-Market-Size-2022-to-2027-Market-Share-predictable-to-grow-at-a-CAGR-of-7-53-during-the-forecast-period-Top-Companies-report-covers-Global-Industry-Trends-Statistics-De.html
6 – https://www.businesswire.com/news/home/20220818005544/en/Global-Self-Storage-Market-2022-to-2027—Industry-Trends-Share-Size-Growth-Opportunity-and-Forecasts—ResearchAndMarkets.com
7 – https://www.storagecafe.com/self-storage-industry-statistics/#:~:text=Self%20storage%20has%20grown%20to,15.5%25%20of%20the%20total%20inventory.
8 – https://www.neighbor.com/storage-blog/self-storage-industry-statistics/#data-revenue
9 – https://www.storagecafe.com/blog/self-storage-use-and-main-demand-drivers/
10 – https://www.rentcafe.com/blog/self-storage/self-storage-widely-used-among-renters-with-gen-xers-in-the-lead/
11 – https://www.insideselfstorage.com
12 – https://www.globenewswire.com
13 – https://www.ibisworld.com
14 – https://www.grandviewresearch.com
15 – https://www.fedessa.org
16 – https://www.fortunebusinessinsights.com
