Europe Self Storage Market

Europe Self Storage Market Size and Share:

The Europe self storage market size was valued at USD 26.6 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 34.7 Billion by 2033, exhibiting a CAGR of 3.0% during 2025-2033. United Kingdom currently dominates the market, holding a significant market share of over 39.2% in 2024. This domination is prompted by mounting urbanization, mounting demand for space within congested neighborhoods, and the expansion of e-commerce. Also, changing lifestyles of consumers, such as downsizing and flexible living strategies, are also pushing demand for self-storage solutions throughout the UK.

The growth of the self-storage market in Europe is primarily driven by increasing urbanization and the rising demand for space in densely populated areas. As more people move into urban centers for employment and educational opportunities, the need for additional storage space has surged. This is especially true for individuals living in smaller apartments or houses where storage space is limited. For instance, in July 2024, ESR Europe closed a £32.4 million commercial real estate loan for Storebox Self Storage to refinance existing loans and acquire the MyLockup portfolio. This acquisition will expand Storebox’s portfolio to 29 self-storage assets across England and Ireland, positioning it as the 7th largest self-storage operator in the UK. The deal highlights ESR’s ability to identify growth opportunities in alternative real estate sectors, demonstrating strong diversified income from self-storage investments and supporting Spectrum Storage Group's expansion. Further, the expanding business of e-commerce has helped fuel the demand for greater storage options, as companies need to store inventory, merchandise, and materials. With expanding online purchase activity and the necessity of effective supply chain management, self-storage facilities are a cost-efficient option to store goods in a convenient access area.

In addition, shifting lifestyles and consumer trends, including downsizing, flexible living, and the gig economy, are driving demand for self-storage services. Increasingly, people are using temporary or flexible living arrangements, particularly among the younger population who are relocating often for work or travel. Self-storage units offer an easy solution for these people who may not wish to transport their possessions every time they move. Also, more and more businesses are utilising self-storage for the storage of documents and equipment, further increasing demand. With growing emphasis on sustainability and green living, more people are also turning towards the utilisation of self-storage as it is a method to declutter houses and downsize consumption while having the items safely stored.

Europe Self Storage Market Trends:

Technological Advancements

One of the key trends in self storage industry in Europe is the shift toward digitalization and automation. The adoption of advanced technology in Europe’s self-storage market is transforming the industry. Operators are increasingly utilizing smart technology for enhanced security, such as biometric access control and 24/7 surveillance systems. Mobile apps enable customers to remotely manage their storage units, offering real-time inventory tracking and online payment options. Automated storage systems, including robotic retrieval, are being introduced, optimizing space utilization and reducing operational costs. These innovations not only improve customer convenience but also increase the efficiency of facility management, making them highly attractive to tech-savvy consumers seeking modern, secure, and user-friendly storage solutions. Reflecting this digital momentum, Eurostat reported that 41.17% of large EU enterprises adopted AI technologies in 2024, indicating a widespread integration of smart systems across industries, including self-storage. For instance, in July 2024, the European self-storage aggregator Storabble announced their partnership with the SaaS company Calcumate to introduce a unit-size calculator on its online marketplace. This new tool will be accessible on Storabble's 1,350+ location listings, enabling tenants to estimate the appropriate unit size for their needs. The partnership aims to improve the self-storage search experience for Storabble's visitors and provide facility operators with more qualified prospects.

Rise in Urbanization

The rise in urbanization across Europe is a key driver of the self-storage market. As more people relocate to cities, they often encounter smaller living spaces, which creates a higher demand for external storage solutions. According to the report published by European Commission, Europe's urbanization level is projected to reach around 83.7% by the year 2050. In densely populated countries such as the United Kingdom, Germany, and France, this trend is particularly pronounced, with urban populations steadily increasing. According to the European self-storage report, the demand for storage units has risen sharply in response to these demographic shifts. Additionally, the growing prevalence of single-person households further exacerbates the need for additional storage options. As living spaces shrink and possessions accumulate, self-storage facilities are becoming an essential solution for managing personal belongings in urban environments.

Expansion in E-Commerce

The expansion of e-commerce is significantly accelerating the self-storage market share in Europe, as small businesses and online retailers seek cost-effective solutions for their growing inventory needs. In urban areas where real estate costs are high, self-storage units provide an affordable alternative for storing products, documents, and other business-related materials. Beyond inventory, these units are also being utilized as flexible spaces for operational activities, allowing businesses to adapt quickly to changing demands. The option to lease storage on a short-term basis is particularly appealing to businesses with fluctuating needs, offering them the flexibility to scale their storage space up or down as required. According to a report published by the International Trade Administration (ITA), the European region retail e-commerce forecast predicts a 9.3% growth in revenue for Europe through 2027, reaching $902.3 billion in sales. The UK is forecasted to lead in e-commerce penetration rate (97.25%), followed by Germany (70%) and France (62%).

Europe Self Storage Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Europe self storage market, along with forecast at the regional and country levels from 2025-2033. The market has been categorized based on storage unit size and end use.

Analysis by Storage Unit Size:

• Small Storage Unit
• Medium Storage Unit
• Large Storage Unit

Medium storage unit stands as the largest component in 2024, holding around 45.7% of the market. Medium storage units, generally ranging from 3 to 9 square meters, are a versatile option within the European self-storage market. They are ideal for individuals needing to store the contents of a one- to two-bedroom apartment, including furniture, appliances, and boxes. These units are also frequently used by small businesses for storing larger inventory or equipment. The rise in temporary housing situations and the need for flexible storage solutions during moves or renovations contribute to the growing demand for medium-sized units. Their balance between size and cost makes them a preferred choice for a wide range of customers.

Analysis by End Use:

• Personal
• Business

Personal leads the market with around 55.3% of market share in 2024. Urbanization and the growing trend of smaller living spaces have increased the need for additional storage solutions among individuals. Many urban dwellers, especially those in densely populated cities, turn to self-storage to manage seasonal items, personal belongings, and excess household goods. Additionally, life events such as moving, downsizing, and temporary relocations contribute to the demand for personal storage units. The flexibility and convenience offered by self-storage facilities make them an attractive option for people needing extra space without committing to larger living quarters. This dominant personal usage segment reflects broader societal trends towards urban living and mobility across Europe.

Regional Analysis:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

In 2024, United Kingdom accounted for the largest market share of over 39.2%. The United Kingdom accounts for the largest Europe self storage market share. This dominance is driven by the country's mature self-storage industry, which has seen significant growth over the years due to high demand for storage solutions in densely populated urban areas. The UK's self-storage sector benefits from a well-developed infrastructure, with numerous facilities spread across the country, catering to a diverse customer base. For instance, in May 2024, Hines, a global real estate developer, acquired its first European self-storage portfolio in the UK. The portfolio comprises 1,449 self-storage and office units across three trading assets in Ashford, Chatham, and Ebbsfleet. The acquisition was made on behalf of Hines' latest European value-add real estate fund. Hines has partnered with UK self-storage operator Storage King for portfolio management and branding. The company plans to initially focus on the UK market, with intentions to expand to other European markets. The growing trend of urbanization, coupled with rising housing costs and smaller living spaces, has further fueled the demand for personal storage units in the UK. According to the Europe self storage industry overview, this shift has led to an increasing reliance on external storage solutions as more people seek convenient and affordable ways to manage their space constraints. Additionally, the flexible nature of self-storage services makes them appealing to a wide range of consumers, from individuals needing temporary storage during a move to small businesses requiring extra space for inventory. The UK's strong market position is supported by a combination of high consumer awareness, a broad range of service offerings, and continued investment in expanding self-storage facilities.

Competitive Landscape:

The Europe self storage market is characterized by a highly fragmented competitive landscape, with a mix of large multinational companies and numerous local players. European self-storage companies have established strong brand recognition and extensive networks of facilities across multiple countries, giving them a competitive edge. These companies often benefit from economies of scale, advanced technology integration, and strategic marketing initiatives that attract a diverse customer base. However, local operators continue to thrive by offering personalized services, flexible pricing, and convenient locations tailored to specific regional needs. The competition is further intensified by the ongoing expansion efforts of both large and small players, driving innovation and service diversification across the market. As customer demands evolve, there is a growing emphasis on sustainability and technology, pushing companies to adopt green practices and smart storage solutions to maintain their competitive position.

The report provides a comprehensive analysis of the competitive landscape in the Europe self storage market with detailed profiles of all major companies, including:

• Shurgard Self Storage SA
• Safestore Holdings PLC
• Self Storage Group ASA
• WP Carey Inc.
• SureStore Ltd
• Big Yellow Group PLC
• Access Self Storage
• Lok'nStore Limited
• Lagerboks
• 24Storage
• Casaforte
• Pelican Self Storage

Latest News and Developments:

• April 2025: Shurgard opened its first self-storage facility in Stuttgart, with 1,000 units ranging from 1.5 to 22.5 sqm. The EUR 17.1 million facility addressed the growing demand for premium storage. Shurgard also expanded its German presence, with several new projects reportedly planned in major cities.
• February 2025: Heitman acquired a majority stake in Servistore, a Swedish self-storage operator, which operates 31 sites across 14 cities. The acquisition aimed to enhance Servistore's technology-led, unmanned operations and expand its market leadership. Heitman manages over 600 self-storage assets globally.
• December 2024: PGIM Real Estate and Pithos Capital launched a joint venture in France to acquire and reposition self-storage assets. The venture, operating under the Zebrabox brand, aimed to develop and convert properties, and secured six assets as of December 2024.
• April 2024: SpaceGenie, a German self-storage company, opened its first facility in Hassloch, Germany. The company planned to expand with six more locations in the near-term and acquire 11 additional sites.
• April 2024: Shurgard acquired a UK-based Lok'nStore in a GBP 378 million deal, effectively doubling its presence in the UK. Lok'nStore operated 43 self-storage centers in England and Wales.
• January 2024: Ardian acquired a majority stake in Costockage, the leading self-storage marketplace in France. Costockage operates 10 centers and a digital platform enabling storage rentals from professionals and individuals. This acquisition supports Ardian's strategy to diversify into self-storage, a growing sector in France. Ardian will leverage its expertise to expand Costockage’s footprint, focusing on real estate acquisitions and transforming distressed properties. The deal aims to enhance Costockage’s offerings and capitalize on the growing demand for self-storage in France.

Europe Self Storage Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe self storage market from 2019-2033.
• The Europe self storage market research report provides the latest information on the market drivers, challenges, and opportunities in the regional market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within the region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe self storage industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.