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

IBISWorld’s Parking Lots & Garages market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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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 - 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 - 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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