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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 | Oct 2014

Open spots: Better public transportation and bicycle infrastructure will constrict industry growth

IBISWorld’s Parking Lots & Garages market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 09-14
2.5%
Annual Growth 14-19
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Profit
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Employment
150,480
Businesses
8,931
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 - Starting a New Business Chapter

The Parking Lots and Garages industry exhibits low barriers to entry. At the minimum, an operator running a parking facility through a management contract must secure the contract and train and pay workers. Operating in this way requires no capital to buy or rent a facility and the number of employee need not be significantly higher. Parking lot and garage operators and valets are usually employed in this way. Operators that lease or own their facilities face higher barriers to entry. They must have access to the capital to rent or buy a facility that is in a desirable location. Access to productive locations can be difficult to acquire if an area is highly developed... 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 operated through management contractsOff-street parking operated through leasesOff-street parking owned by parking operatorsOn-street parkingValet parking
 
Industry Activities
Providing off-street parking servicesProviding on-street parking servicesProviding valet parking services


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