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 Key Buyers Chapter
The Parking Lots and Garages industry has a low level of market share concentration, with the top four companies accounting for about 27.0% of market share. The remaining share of the market is mainly composed of small operators that cater to local demand. IBISWorld estimates that in 2013, about 8,711 companies compete for the remaining 73.0% of industry revenue. The majority of these companies have fewer than 10 employees.
The top four companies made up about 31.0% of the market in 2008, meaning market share concentration has declined slightly in the five years to 2013. Early in the period, Vinci's LAZ Parking doubled its market share. In 2012, Standard Parking Corporation absorbed Central Parking Corporation, formerly the industry's largest operator... purchase to read more