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