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Parking Lots & Garages in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Parking Lots & Garages Market Research Report | NAICS 81293 | Jun 2015

Open spots: Increased parking rates and employment figures support industry growth

The Parking Lots & Garages market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$10bn
Annual Growth 10-15
1.2%
Annual Growth 15-20
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Profit
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Employment
143,271
Businesses
8,774
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, but began to grow again in 2011. Increases in parking rates and recent improvements in employment figures contributed to this turnaround. In the next five years, growth is expected to continue yet be more volatile due to a decreased reliance on personal automobiles as a result of better pubic transportation and bicycle infrastructure. However, the industry will continue to benefit from municipalities, hospitals and universities outsourcing parking operations... purchase to read more

Industry Report - Industry Analysis Chapter

The Parking Lots and Garages industry includes companies that provide temporary parking spaces on an hourly, daily, weekly or monthly basis. The industry is highly fragmented, with most operators being small private companies that often operate as single-parking facilities. A little more than two-thirds of companies are estimated to be sole proprietors or nonemployers, despite only representing an estimated 2.6% of industry revenue. Although most enterprises in the industry are local, a few large companies operate on a national scale, accounting for larger portions of industry revenue. In this industry, operators may own or lease parking facilities from which they collect revenue for parking services... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Parking Lots & Garages Industry?

This industry comprises operators that provide parking and valet service on an hourly, daily or monthly basis. The industry primarily operates via management contracts, lease agreements or property ownership. This industry excludes the storage of vehicles for an extended period of time.

Industry Products
Off-street parking - hourly or dailyOff-street parking in buildings - weekly or monthlyOff-street parking on lots - weekly or monthlyManagement fees for the operation of parking facilitiesValet parking
 
Industry Activities
Providing off-street parking servicesProviding on-street parking servicesProviding valet parking services


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