Locked up: Revenue will keep growing despite softening demand

The Storage and Warehouse Leasing industry in California has exhibited moderate growth over the past five years. With fewer consumers purchasing homes and more homeowners making the transition to apartments and other rental housing, demand for storage and warehouse leasing has strengthened. Moreover, growth in disposable income has given California consumers more money to spend on storage and warehouse leasing. Along with stronger demand, industry profit has also been on the rise. Over the five years to 2022, the industry is expected to continue growing, albeit more slowly. This slightly slower growth reflects a modest slowdown in California's homeownership decline, which will contribute to rental vacancies falling...read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 12-17
2.1%
Forecast Growth 17-22
Profit
Employment
6,638
Businesses
2,569

Industry Threats & Opportunities

  • As more operators enter the industry to take advantage of strong demand and healthy profit, competition is heating up
  • As more consumers downsize into apartments, they are requiring larger storage spaces
  • Steadily rising demand will continue to generate revenue gains
  • Industry Report - Industry Key Buyers Chapter

    The Storage and Warehouse Leasing industry in California is characterized by a low level of market share concentration, with the top four companies estimated to account for just under 30.0% of total industry revenue. The majority of this revenue is controlled by Public Storage Inc. and Extra Space Storage Inc., which are both national chains with a sizeable presence in California. Nonetheless, the industry as a whole is still highly fragmented due in part to manageable barriers to entry and strengthening demand, which are luring new players to enter the competitive landscape. Over the past five years, market share concentration has declined slightly due to new players entering the industry. Add...purchase to read more.

    Additional Insights for the Storage & Warehouse Leasing in California Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Storage & Warehouse Leasing in California Industry are

  • Economies of scale
  • Proximity to key markets
  • Economies of scope
  • IBISWorld analysts also discuss how external factors such as Population of California and Per Capita Disposable Income in California in the Storage & Warehouse Leasing in California industry impact industry performance..

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    What's in this report

    What is the Storage & Warehouse Leasing in California Industry?

    This industry primarily rents or leases space for self-storage. These establishments provide secure space where customers can store and retrieve their belongings at their convenience. Industry storage units include rooms, compartments, lockers, containers and outdoor space.

    Industry Products
  • 10×10-foot storage spaces
  • 10×20-foot storage spaces
  • 10x15-foot storage spaces
  • Five-by-10-foot storage spaces
  • 10x30-foot storage space
  • 10x25-foot storage spaces
  • Five-by-five-foot storage spaces
  • Industry Activities
  • Leasing or rental of miniwarehouses and self-storage units
  • Rental of self-storage warehousing
  • Rental of coin-operated lockers
  • U-lock storage
  • Similar Industries
  • Public Storage & Warehousing
  • Specialized Storage & Warehousing
  • Apartment Rental
  • Commercial Leasing
  • Land Leasing
  • Apartment Rental in California
  • Commercial Leasing in California
  • Apartment Rental in New York
  • Commercial Leasing in New York
  • Storage & Warehouse Leasing in New York
  • Apartment Rental in Illinois
  • Commercial Leasing in Illinois
  • Commercial Leasing in Texas
  • Apartment Rental in Texas
  • Apartment Rental in Florida
  • Commercial Leasing in Florida
  • Apartment Rental in Massachusetts
  • Commercial Leasing in Massachusetts
  • Commercial Leasing in Ohio
  • Apartment Rental in Ohio
  • Apartment Rental in Pennsylvania
  • Commercial Leasing in Pennsylvania
  • Apartment Rental in New Jersey
  • Commercial Leasing in New Jersey
  • Commercial Real Estate in New Jersey
  • Apartment Rental in Georgia
  • Commercial Leasing in Georgia
  • Commercial Real Estate in Georgia
  • Apartment Rental in Michigan
  • Commercial Leasing in Michigan
  • Commercial Real Estate in Michigan
  • Apartment Rental in Wisconsin
  • Commercial Leasing in Wisconsin
  • Commercial Real Estate in Wisconsin
  • Apartment Rental in Washington
  • Commercial Leasing in Washington
  • Commercial Real Estate in Washington
  • Apartment Rental in Virginia
  • Commercial Leasing in Virginia
  • Apartment Rental in Tennessee
  • Commercial Leasing in Tennessee
  • Apartment Rental in Missouri
  • Commercial Leasing in Missouri
  • Apartment Rental in North Carolina
  • Commercial Leasing in North Carolina
  • Storage & Warehouse Leasing in North Carolina
  • Apartment Rental in Minnesota
  • Commercial Leasing in Minnesota
  • Commercial Real Estate in Minnesota
  • Apartment Rental in Maryland
  • Commercial Leasing in Maryland
  • Commercial Real Estate in Maryland
  • Apartment Rental in Colorado
  • Commercial Leasing in Colorado
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Population of California
  • Per Capita Disposable Income in California
  • Rental vacancy rates
  • Number of Businesses in California
  • Homeownership Rate in California

  • Current Performance
  • Falling homeownership rate fuels demand
  • Profit on the rise
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand softens slightly
  • Industry expansion continues
  • Table: Storage & Warehouse Leasing in California Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Storage & Warehouse Leasing in California Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Wholesale Trade
  • Retail Trade
  • Consumers

  • Key Selling Industries
  • Alarm, Horn & Traffic Control Equipment Manufacturing
  • Industrial Building Construction
  • Land Development

  • Products & Services
  • 10×10-foot storage spaces
  • 10×20-foot storage spaces
  • Other
  • 10x15-foot storage spaces
  • Five-by-10-foot storage spaces
  • 10x30-foot storage space
  • 10x25-foot storage spaces
  • Five-by-five-foot storage spaces
  • Chart: Storage & Warehouse Leasing in California Industry Products and Services Segmentation

  • Major Markets
  • Residential customers
  • Commercial operators
  • Military
  • Students
  • Chart: Major Market Segmentation for the Storage & Warehouse Leasing in California Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesDepreciationOther
  • Chart: Cost Structure Benchmarking – Sector vs Storage & Warehouse Leasing in California

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Storage & Warehouse Leasing in California Industry

  • Public Storage, Extra Space Storage Inc., Derrel's Mini Storage Inc., Platinum Storage Group,
  • Table: Public Storage - financial performance
  • Table: Extra Space Storage Inc. - financial performance
  • Table: Derrel's Mini Storage Inc. - financial performance
  • Table: Platinum Storage Group - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Storage & Warehouse Leasing in California Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Storage & Warehouse Leasing in California Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Rental Vacancy Rates (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Miniwarehouse
  • A facility designed or operated exclusively for the storage of goods in individual compartments or rooms, none of which exceeds 500 square feet in area.
  • Occupancy Rate
  • The amount of storage space occupied as a percentage of total available storage space.
  • Real Estate Investment Trust (Reit)
  • A legal entity that uses pooled investor capital to purchase and manage income property or mortgage loans. To qualify, the entity must distribute at least 90.0% of taxable income.
  • What Our Customers Say

    Why buy this report?

    The Storage & Warehouse Leasing in California Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
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    This report on Storage & Warehouse Leasing in California:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Storage & Warehouse Leasing in California market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Storage & Warehouse Leasing in California, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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