Self-Storage Market Size, Growth and Analysis


 Self-Storage Market

Self-Storage Market size is anticipated to expand at a healthy CAGR of 5.2% over the forecast period, owing to the rapid urbanization and economic expansion.

Growth in the small-storage market is driven by the rising small-scale business, increasing research and development activities, rapid digitalization, and the expansion of the e-commerce industry. According to the IBEF, the Indian e-commerce sector will outshine U.S. and will account to be the second largest e-commerce market in the world by the end of 2034. With the expansion of living spaces and surging demand for self-storage software among end-users, the market is predicted to grow at a rapid pace.

End-Use – Segment Analysis

Personal storage end-use segment is projected to witness a faster CAGR during the forecast period, owing to the inclination of households to live in small and compact space. Thus, as per the Self-Storage Market analysis, this has persuaded house owners to discard to keep objects that need space, driving the segment’s size.

Unit Size – Segment Analysis

10’x10′ unit size self-storage space is estimated to grow at a faster CAGR during the forecast period, owing to the growing demand for medium-sized storage space to store household items. The Self-Storage Market Report states that the ability of 10’x10′ unit size contents to store an apartment and free up space at home has augmented individuals to opt for this unit size.

Regional – Segment Analysis:

Asia-pacific is forecast to grow at a faster CAGR over the forecast period, owing to the accelerating population density and the drift towards online shopping.

Key developments

In 2021, Life Storage established a three-story, 216-unit, climate-controlled building on the property which the company possessed on Transit Road to expand its business in West Seneca.

In 2018, CubeSmart developed a USD 7.5 million storage unit covered in 89,000 sq. ft. in Lantana, South Florida. This self-storage space has 750 spaces, with a rental price of USD 68 per month to USD 363 per month, according to the size of the space.

In 2018, StorageMart decided to expand 135,00 net rentable qq. Ft. of climate-controlled self-storage units in Missouri.

Self-Storage Market Segmentation:

Global Self-Storage Market by End-Use
  • Personal
  • Business
Global Self Storage Market by Unit Size
  • 5’x5’ or smaller
  • 5’x10’
  • 10’x10’
  • 10’x15’
  • Others
Global Self Storage Market by Actual Rental Length
  • Less than 3 months
  • 3 to 6 months
  • 7 months to 12 months
  • 1 to 2 years
  • Longer than 2 years
Global Self-Storage Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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