The Europe self-storage market size reached US$ 24.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.65% during 2023-2028.
Self storage refers to a storage space in a building that is rented to tenants on a short-term contractual basis. This system is a sub-sector of the commercial real estate industry. Self storage services rent space to individuals or businesses and provide boxes, locks, and packaging materials for sale to tenants to help them pack and ensure safe storage. These spaces provide numerous features, such as climate control and dedicated racks for specialty goods. In contrast to full-service storage services where tenants have limited access to their belongings and are dependent on the provider to store and manage their belongings, self-storage allows tenants enhanced control and mobility. These services ensure that tenants have the liberty to pack, arrange, and manage the entire storage unit according to their own preferences.
Europe Self-Storage Market Trends:
The market in Europe is majorly driven by significant improvements in the lifestyles led by the masses. This can be attributed to rapid urbanization and improved economic outlook across the region. In addition to this, the increasing number of renters in cities requiring frequent relocation is providing an impetus to the market. With the advent of cloud-based software with features including specialized payment options, facility maps, and gate access integration, the market is experiencing considerable growth opportunities. The market is further driven by the widespread adoption of smaller housing with limited spaces due to expensive rent in major cities across Europe. The escalating need for cost-effective, short-term, or long-term solutions to address space management issues amongst small businesses and start-ups are also resulting in a higher uptake of self-storage units. Some of the other factors contributing to the European self-storage market growth include the augmenting need for housing innovations and the growing capital investments in real estate.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe self storage market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on storage unit size and end use.
Breakup by Storage Unit Size:
Small Storage Unit
Medium Storage Unit
Large Storage Unit
Breakup by End Use:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Base Year of the Analysis
Storage Unit Size, End Use, Country
Germany, France, United Kingdom, Italy, Spain, Others
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Key Questions Answered in This Report
The European self-storage market was valued at US$ 24.9 Billion in 2022.
We expect the Europe self storage market to exhibit a CAGR of 3.65% during 2023-2028.
The rising adoption of smaller housing with limited spaces, along with the introduction of cloud-based software with advanced features, such as specialized payment options, facility maps, and gate access integration with self storage, is primarily driving the Europe self storage market.
The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of cloud-based self-storage software with a centralized online database to address space management issues across several European nations, during the remote working scenario.
Based on the end use, the Europe self storage market can be bifurcated into personal and business. Currently, personal exhibits a clear dominance in the market.
On a regional level, the market has been classified into Germany, France, United Kingdom, Italy, Spain, and others, where United Kingdom currently dominates the Europe self storage market.
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