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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 | Mar 2014

Filling spots: Revived demand for parking at airports and venues will aid 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
$10bn
Annual Growth 09-14
1.9%
Annual Growth 14-19
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Profit
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Employment
149,263
Businesses
9,028
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

 


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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