$XX.Xbn
$XX.Xm
XX,XXX
X,XXX
$XX.Xbn
Parking garage companies have endured considerable declines. The pandemic triggered a severe drop in revenue as people swapped commutes for home offices and in-person shopping for online alternatives. Also, travel restrictions decimated airport parking services. These companies have been hit hard by lower usage, heightened wage costs and a decreased ability to manage rental expenses. Rising minimum wage requirements have also pushed up wages as a share of revenue, hindering profit growth. Industry revenue has been decreasing at a CAGR of 3.5% over the past five years to total an estimated $372.9 million in 2024, including an estimated drop of 2.8% in 2024.
Industry revenue has grown at a CAGR of XX.X% over the past five years, to reach an estimated $XX.Xbn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Toronto Parking Authority | 123.5 | 12.4 | 10.1 | |
Indigo Group SAS | 38.6 | 13.4 | 34.8 | |
SP Plus Corporation | 20.9 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Hourly or daily off-street parking, Off-street parking in buildings and Weekly or monthly off-street parking on lots. Hourly or daily off-street parking is the largest segment of the Parking Lots & Garages in Canada.
Off-street parking operated through management contracts expand as companies look to reduce costs
Operators in the Parking Lots and Garages industry in Canada provide parking and valet services for motor vehicles on an hourly, daily or monthly basis. Industry participants operate via management contracts, lease agreements or property ownership.
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NAICS 812930 - Parking Lots & Garages in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Parking garage companies took a big hit during the pandemic. They began to rally, but poor macroeconomic trends stifled their recovery.
Learn about an industry's products and services, markets and trends in international trade.
Parking garage companies are now favouring management contracts over leases. Parking garage companies' attempts to slash expenses have led to this trend.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Toronto significantly benefits Ontario, largely driving the businesses of parking lot companies such as the Toronto Parking Authority. The city's large population attracts co...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Companies fiercely battle over price, locale and service quality. These elements form the crux of competition, with companies striving to outperform in these critical areas.
Learn about the performance of the top companies in the industry.
Toronto Parking Authority is investing $20 million in electric vehicle charging stations. Also, SP Plus is innovating payment methods to include texting and license plate opt...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Parking lot companies get private help. The Canadian Parking Association aids these companies by advancing technology and shaping public policy.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Parking garage companies’ profit has fallen. Despite rebounding from notable drops during the pandemic, wage and rent expenses are stymying profit.
Including values and annual change:
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Key data sources in Canada include:
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These sources include:
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The market size of the Parking Lots & Garages industry in Canada is $XX.Xbn in 2024.
There are $XX.Xbn businesses in the Parking Lots & Garages industry in Canada, which has declined at a CAGR of XX.X% between 2019 and 2024.
The market size of the Parking Lots & Garages industry in Canada has been stable at a CAGR of XX.X% between 2019 and 2024.
Over the next five years, the Parking Lots & Garages industry in Canada is expected to remain static.
The biggest companies operating in the Parking Lots & Garages market in Canada are Toronto Parking Authority, Indigo Group SAS and SP Plus Corporation
Parking management contracts and Leased parking facility management are part of the Parking Lots & Garages industry.
The company holding the most market share in Canada is Toronto Parking Authority.
The level of competition is high and steady in the Parking Lots & Garages industry in Canada.