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 Locations Chapter
The geographic distribution of parking service establishments mirrors both major population centers and motor vehicle distribution in the United States. Perhaps unsurprisingly, California and New York account for 35.6% of total industry establishments due to their large consumer markets. According to US Census Bureau data, the top three regions for parking lots and garages are the West, Mid-Atlantic and Southeast. These are also the top three regions in the country in terms of population and automobile sales.
The West is home to 28.5% of industry establishments and about 17.1% of the US population. It also accounts for over 15.0% of the country's automobile sales. California alone has 22.4% of industry establishments... purchase to read more