Taking off: Increasing airport patronage has supported strong revenue growth

The Parking Services industry has experienced strong growth over the past five years. A growing number of motor vehicles, rising airport patronage and increasing discretionary income have fuelled industry revenue growth. Industry revenue is expected to grow at an annualised 7.5% over the five years through 2017-18, to total $1.6 billion.The airport parking services segment accounts for over one-third of industry revenue and is a large contributor to industry profitability. Increasing discretionary income over the past five years has allowed Australians to increase travel, both interstate and overseas. Steady growth in air passenger movements between capital city airports has driven demand for airport parking services and has supported industry growth...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
7.5%
Forecast Growth 18-23
Profit
Employment
2,455
Businesses
393

Industry Threats & Opportunities

  • Rising airport patronage has supported industry growth over the past five years
  • The ACCC has been investigating anti-competitive behaviour in the lucrative airport parking segment
  • Airport parking is forecast to continue being a lucrative area of industry growth
  • Industry Report - Industry Key Buyers Chapter

    The Parking Services industry is moderately concentrated. The four largest players are estimated to account for 53.1% of industry revenue in 2017-18. The eight largest companies are estimated to account for almost 70% of industry revenue. Concentration levels among larger enterprises have decreased over the past five years due to limited growth opportunities in CBD locations and airports.Wilson Parking, the industry's largest player, has lost market share steadily over the past five years. Wilson Parking's market share declined further in June 2016 due to the sale of its interest in SKITDATA Australia, a parking management company. Lar...purchase to read more.

    Additional Insights for the Parking Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Parking Services Industry are

  • Proximity to key markets
  • Capacity to objectively assess new investments
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as Number of motor vehicles and Air passenger movements through capital city airports in the Parking Services industry impact industry performance..

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    What's in this report

    What is the Parking Services Industry?

    Industry operators provide parking space for motor vehicles, generally on an hourly, daily or monthly basis. This includes parking garages, parking stations and valet parking. Council operated car parks are excluded from the industry.

    Industry Products
  • Periodic car parking services
  • Daily car parking services
  • Short-stay car parking services
  • Weekday off-peak car parking services
  • Airport car parking services
  • Other car parking services
  • Industry Activities
  • Car park operation
  • Parking station operation
  • Airport car park operation
  • Automobile parking garage or lot operation
  • Valet parking service
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of motor vehicles
  • Air passenger movements through capital city airports
  • Total employees in the labour force
  • World price of crude oil
  • Demand from taxi and limousine transport

  • Current Performance
  • Revenue and growth
  • Demand and supply
  • Park and fly
  • Margins and market power
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand growth continues
  • Future industry constraints
  • Profitability growth
  • Table: Parking Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Parking Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Commercial Vehicle Wholesaling
  • Industrial and Other Property Operators
  • Paint and Coatings Manufacturing
  • Telecommunications and Other Electrical Goods Wholesaling

  • Products & Services
  • Airport car parking services
  • Daily car parking services
  • Periodic car parking services
  • Short-stay car parking services
  • Weekday off-peak car parking services
  • Other car parking services
  • Chart: Parking Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Highest income quintile households
  • Businesses and other sectors
  • Fourth income quintile households
  • Third income quintile households
  • Second income quintile households
  • Lowest income quintile households
  • Chart: Major Market Segmentation for the Parking Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Parking Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Parking Services Industry

  • Industry Globalization
    Wilson Parking Australia 1992 Pty Ltd, Secure Parking Pty Ltd, Australia Pacific Airports Corporation Limited, Sydney Airport, BAC Holdings Limited,
  • Table: Wilson Parking Australia 1992 Pty Ltd - financial performance
  • Table: Secure Parking Pty Ltd - financial performance
  • Table: Australia Pacific Airports Corporation Limited - financial performance
  • Table: Sydney Airport - financial performance
  • Table: BAC Holdings Limited - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Parking Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Parking Services Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Inner Urban
  • The inner fringe of the city surrounding the CBD.
  • Long-Stay Parking
  • Parking of periods greater than six hours.
  • Short-Stay Parking
  • Parking of periods less than six hours.
  • Stack Parking
  • Services that use valet parking or car lifts to maximise the number of vehicles that can be parked in a space.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Parking Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Parking Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Parking Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Parking Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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