Market Size of Europe Self-storage Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.95 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Self Storage Market Analysis
The Europe Self-Storage Market size was estimated at USD 2,750.29 million in the current year. The market is expected to reach USD 3,671.84 million in five years, registering a CAGR of 5.95% during the forecast period.
The self-storage market is a sub-sector of retail real estate. Over the forecast period, driven by higher urbanization and a better business outlook across regions, growth in this industry is predicted to be robust as new businesses emerge.
- Increased facilities and space offers in several regional countries have increased the European self-storage market. The European mass of renters of rooms for individuals and business purposes has helped increase the studied market due to urbanization, rising population, an improving economic outlook, and crowded accommodation.
- The growth of the SME self-storage market is driven by the prevailing trend to open retail outlets for pick-ups and deliveries in the e-commerce sector. Companies increasingly use value logistics as consumers demand more and more deliveries on the same day, so they're turning to self-storage. In the same vein, several market participants have acted positively.
- European consumers have a relatively high awareness of this self-storage market compared to other regions worldwide. Additionally, the key benefits, such as sole access to space, flexible rental periods, and a wide range of size units suitable for each customer's needs, could be understood by nearly half of consumers who initially understand the market.
- Several legal challenges exist for current Self Storage Managers and Owners, including but not limited to lien sale and auction, leaving of goods or documents, changes in State law on tenant bankruptcy or death, collections, rental agreement validity, protection of tenants' data, and the storage of vehicles.
- As a result of the increasing demands for consumers with improved city lifestyles, Europe's Self Storage Market was subject to moderate growth. The growth in the market is expected to be supported over the forecast period. The region experienced stable market growth due to the COVID-19 pandemic. However, the pandemic decreased production, resulting in an acute contraction of business inputs.
Europe Self Storage Industry Segmentation
Self-storage facilities allow people to rent and store any household or business possessions. Rental agreements for storage space, often known as storage units, are month-to-month agreements. Self-storage gives the user much greater control than full-service storage options, which restrict the customers' access to their possessions and dependence on the storage provider to maintain and manage them.
The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates during the forecast period. It also tracks the total lettable area across different European countries while providing market trends and key vendor profiles. Moreover, the study analyzes the impact of COVID-19 on the ecosystem.
The Europe Self-Storage Market is segmented by user type (personal and business) and country (Germany, United Kingdom, Italy, France, Netherlands, Spain, Norway, Denmark, Sweden, Rest of Europe).
The market sizes and forecasts are provided in terms of the (USD) for all the above segments.
By User Type | |
Personal | |
Business |
By Country | |
Germany | |
United Kingdom | |
France | |
Netherlands | |
Italy | |
Spain | |
Norway | |
Denmark | |
Sweden | |
Rest of Europe |
Europe Self-storage Market Size Summary
The European self-storage market is experiencing significant growth, driven by factors such as urbanization, an improving economic outlook, and the increasing demand for space due to rising population densities. This sector, a subset of retail real estate, is benefiting from the trend of businesses seeking flexible storage solutions to accommodate the needs of e-commerce and value logistics. The market is characterized by a high level of consumer awareness and understanding of the benefits of self-storage, including flexible rental periods and varied unit sizes. Despite legal challenges, the market is expanding as both individuals and businesses recognize the value of self-storage facilities for personal and commercial use.
Germany, while having lower market penetration compared to the UK and France, presents substantial growth opportunities due to its urbanization and high population density. The fragmented nature of the European self-storage market sees many facilities operated by independent operators, with new sites continually being developed. The market is supported by strategic partnerships and investments, as evidenced by recent expansions and openings by major players like Shurgard Self Storage SA and Big Yellow Group PLC. These developments are meeting the growing demand for secure and accessible storage options, particularly in densely populated urban areas.
Europe Self-storage Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By User Type
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2.1.1 Personal
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2.1.2 Business
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2.2 By Country
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2.2.1 Germany
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2.2.2 United Kingdom
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2.2.3 France
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2.2.4 Netherlands
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2.2.5 Italy
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2.2.6 Spain
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2.2.7 Norway
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2.2.8 Denmark
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2.2.9 Sweden
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2.2.10 Rest of Europe
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Europe Self-storage Market Size FAQs
What is the current Europe Self-storage Market size?
The Europe Self-storage Market is projected to register a CAGR of 5.95% during the forecast period (2024-2029)
Who are the key players in Europe Self-storage Market?
Shurgard Self Storage SA, Self Storage Group ASA, Safestore Holdings PLC, Big Yellow Group PLC and W. P. Carey Inc. are the major companies operating in the Europe Self-storage Market.