Industry Analysis & Industry Trends
Over the past five years, the Self-Storage Services industry has been supported by steady demand from Australian consumers, especially those relocating for short-term purposes such as employment or study. The industry has also grown steadily thanks to the lack of feasible substitutes for self-storage services, as consumers turn to industry operators to store larger items such as furniture or automobiles for later use. As a result, over the five years through 2015-16, the Self-Storage Services industry is expected to grow by an annualised 2.3%. Industry profitability has also grown over the past five years, as operators have reduced costs while also boosting service offerings... purchase to read more
Industry Report - Industry Analysis Chapter
Over the five years through 2015-16, steady demand from Australian consumers has supported the Self-Storage Services industry. Consumers that relocate for employment or study have continued their demand for industry services, as few competitive substitutes exist. Consumers in transit between primary places of residence are another source of industry demand. Ultimately, downstream demand is largely influenced by the overall pace of economic activity in Australia.
The industry is expected to grow by an annualised 2.3% over the five years through 2015-16, to total $754.3 million. Industry players continue to seek new ways to reduce operating costs like depreciation and labour expenses, through outsourcing and divesting non-core assets... purchase to read more