Industry Analysis & Industry Trends
Over the past five years, the Parking Lots and Garages industry followed a fairly similar narrative as that of the US economy. Industry revenue dropped with the recession, as economic factors including the unemployment level, demand for air travel, shopping outings, sporting events and concerts were at a historic low. In the coming years, revenue will increase slowly, as the industry will benefit from municipalities, hospitals and universities outsourcing their parking operations... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Parking Lots and Garages industry has a low level of market share concentration, with the top four companies accounting for a little more than a quarter of industry revenue. The remaining share of the market is mainly composed of small operators that cater to local demand. IBISWorld estimates that in 2014, about 9,024 companies compete for the remaining 75.0% of industry revenue. The majority of these companies have fewer than 10 employees.
The top four companies made up a larger share of the market in 2009, meaning market share concentration has declined slightly in the five years to 2014. However, there are several factors that contribute to this decline. Early in the period, Vinci's LAZ Parking increased its market share noticeably... purchase to read more