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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 Key Buyers Chapter

The Parking Lots and Garages industry has a low level of market share concentration, with the top four companies accounting for an estimated 35.8% of industry revenue. The remaining share of the market is mainly composed of small operators that cater to local demand. IBISWorld estimates that in 2015, about 8,774 companies compete for the remaining 64.2% of industry revenue. The majority of these companies have fewer than 10 employees.

The top four companies made up a lesser share of the market in 2010, meaning market share concentration has grown in the five years to 2015; 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

 


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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