During the course of the forecast period, increased urbanisation is anticipated to drive the growth of the worldwide self-storage market. Urbanization growth has a major and profitable impact on market expansion. As the population of cities grows, apartments are getting more and more expensive and cramped. Renters are moving around more frequently as a result of this. Coherent Market Insights cites London as one notable example of this tendency, with an urban population of 83.65% in 2019. By 2030, this region's metropolitan population is projected to grow by more than 10 million people. As a result, this factor will increase demand for self-storage units, which is likely to drive market expansion.
The global Self-Storage Market size was valued at USD 50,421 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.24% from 2022 to 2030.
Key Competitors in the Self-Storage Industry:
1. Global Self-Storage Inc.
Global Self Storage is a self-administered and self-managed REIT that owns, operates, manages, acquires, develops and redevelops self-storage properties.
2. U-Haul International Inc. (Amerco)
U-Haul Holding Company operates as a do-it-yourself moving and storage operator for household and commercial goods in the United States and Canada. The company was formerly known as AMERCO. U-Haul Holding Company was founded in 1945 and is based in Reno, Nevada.
3. Urban Self Storage Inc.
In 1987, Urban Self Storage, Inc. began with one storage facility & has grown to 75 facilities operated throughout Washington, Oregon, New Mexico & Arizona. The company has headquarters situated in Washington, United States.
4. Life Storage Inc.
Founded in 1982, Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities. It has headquarters situated in Buffalo, New York. In February, 202 Life Storage Inc. a leading national owner and operator of self-storage properties, announced today the launch of their third micro-fulfillment center in Chicago, by its subsidiary, Warehouse Anywhere.
5. CubeSmart LP
CubeSmart is a self-administered and self-managed real estate investment trust. The company was founded in July 2004 and is headquartered in Malvern, PA. In December, 2021 CubeSmart announced that it has closed on the previously announced acquisition of LAACO, LTD., the owner of the Storage West self-storage platform.
6. National Storage Affiliates Trust
Founded in 2013, National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. The company has headquarters situated in Colorado, United States.
7. Safestore Holdings PLC
Safestore is the UK's largest self-storage group with 163 stores, comprising 125 wholly owned stores in the UK. The company founded in 1998 by the current Safestore Group CEO Frederic Vecchioli. The company has headquarters situated in Hertford, United Kingdom.
8. W. P. Carey Inc.
Wm. Polk Carey founds W. P. Carey (formerly W. P. Carey & Co.) in 1973, pioneering the concept of pooled net leased commercial real estate assets for individual investors. It has headquarters situated in New York, NY
*Definition- Self-storage refers to a business that lets tenants rent storage spaces, also known as storage units, most frequently for a brief period of time, usually from month to month. Self-storage facilities can give customers peace of mind, help them arrange their belongings, and simplify their homes.
