Industry Analysis & Industry Trends
The recession had a negative effect on the Parking Lots and Garages industry, particularly as unemployment increased and disposable income and domestic flight miles decreased, keeping airport parking lots under capacity. Demand will pick up in the next five years as employment improves and demand from airports and other venues revives. However, operators will be threatened by the government's renewed focus on public transportation and will likely cater to electric vehicles to compete... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Parking Lots and Garages industry is in the mature phase of its life cycle. Industry value added (IVA), which measures the industry's contribution to the economy, is projected to grow at an average annual rate of 2.0% from 2009 to 2019. In comparison, GDP is expected to grow 2.7% per year on average over the ten year period.
While IVA growth will be outpaced by GDP growth, the number of companies in the industry is expected to increase during the period, at an annualized rate of 2.0%. During this time, merger and acquisition activity is expected to remain high, which is a key indicator of a mature industry. All three major players have grown their operations considerably through acquisitions over the five years to 2014... purchase to read more