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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 can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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 - 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 a little more than a quarter of industry revenue. The remaining share of the market is mainly composed of small operators that cater to local demand. IBISWorld estimates that in 2014, about 9,024 companies compete for the remaining 75.0% of industry revenue. The majority of these companies have fewer than 10 employees.

The top four companies made up a larger share of the market in 2009, meaning market share concentration has declined slightly in the five years to 2014. However, 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 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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