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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 | Jan 2016

Free parking: Efforts to reduce traffic encourage carpooling will temper 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
Revenue
$11bn
Annual Growth 11-16
2.0%
Annual Growth 16-21
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Profit
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Employment
142,040
Businesses
9,346
Industry Analysis & Industry Trends

The Parking Lots and Garages industry has followed a similar narrative to that of the US economy. Following historical lows for employment, demand for air travel, shopping outings, sporting events and concerts, recovery began in 2011. Aside from a small blip in 2012, overall increases in parking rates over the five years to 2016 and improvements in employment figures contributed to the industry's turnaround. In the coming years, employment, domestic trips and vehicle registrations will rise, increasing the need for parking services at airports, entertainment venues and central business districts... purchase to read more

Industry Report - Industry Products Chapter

The services provided by the Parking Lots and Garages industry can be broken down into several categories. The largest service provided in this industry is off-street parking. Off-street parking refers to any site that offers parking services for automobiles, motorcycles and bicycles that is not curbside; this includes parking lots, garages and driveways. This classification of parking can be further segmented into facilities catering to consumers seeking daily parking or those seeking multiday parking spots. Moreover, these facilities can be operated under lease agreements, management contracts or by the owner directly. The remaining services offered in this industry include: valet parking, on-street parking and other varied services... 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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