Overview

Storing up: The industry will continue to reap the benefits of an improving economy

The Storage & Warehouse Leasing in New York industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Demand for storage units is expected to increase alongside consumer confidence and consumer spending
  • An increase in renting has bolstered demand for self-storage units
  • Decreasing rental rates are expected to slightly shrink profit margins

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    Industry Analysis & Industry Trends

    Since the Storage and Warehouse Leasing industry can benefit from both economic upturn and downturn, it has performed well over the past five years. The threat of lost business in times of decreasing disposable income levels is mitigated by the need to temporarily store household goods and furniture while people downsize homes or rent smaller apartments to save money. The industry also grows when the economy strengthens, as more consumers can afford discretionary storage services. In New York, the industry is particularly prominent because of the high transience rates, low homeownership rates and a prominent apartment rental industry in the state's financial hub, the New York Metropolitan region. Over the past five years, revenue is expected to rise...

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    Industry Report - Industry Locations Chapter

    According to the Self-Storage Association's most recent fact sheet, 52.0% of US self-storage facilities are in suburban areas, while 32.0% are in urban areas and 16.0% are in rural. Self-storage customers choose a facility primarily based on convenience of the location, generally in relation to their home or business. Individuals with higher incomes tend to accumulate more belongings and have stronger demand for self-storage. Likewise, self-storage operators primarily seek locations with above-average population growth and income levels. Many of the larger operators own multiple locations or clusters within an attractive locality, using economies of scale to reduce operating costs in that region. The two most well-represented regions in the industry are New York City, at 36.2% o..

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    Additional Insights for the Storage & Warehouse Leasing in New York Industry

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

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

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    Industry Products

    What is the Storage & Warehouse Leasing in New York Industry?

    Operators in this industry primarily rent or lease 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
    5x5 foot spaces
    5x10 foot spaces
    10x10 foot spaces
    10x15 foot spaces
    10x20 foot spaces
    10x25 foot spaces
    10x30 and 20x20 foot spaces
    Industry Activities
    Leasing or rental of miniature warehouses and self-storage units
    Rental of self-storage warehousing
    Rental of coin operated lockers
    U-lock storage

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Access to Credit in New York
  • Per Capita Disposable Income in New York
  • Rental Vacancy Rate in New York
  • Number of Businesses in New York

  • Current Performance
  • Cyclical and countercyclical demand
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Revenue grows as profit margins contract
  • Innovation and market conditions
  • Table: Storage & Warehouse Leasing in New York Industry Revenue Outlook

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

  • Products & Markets
    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
  • 10x10 foot spaces
  • 10x20 foot spaces
  • Other
  • 10x15 foot spaces
  • 5x10 foot spaces
  • 10x30 and 20x20 foot spaces
  • 10x25 foot spaces
  • 5x5 foot spaces
  • Chart: Storage & Warehouse Leasing in New York Industry Products and Services Segmentation

  • Major Markets
  • Long-term residential clients
  • Nonresidential clients
  • Short-term residential clients
  • Military clients
  • Students
  • Chart: Major Market Segmentation for the Storage & Warehouse Leasing in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciationRent and utilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Storage & Warehouse Leasing in New York

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

  • Major Companies
    Public Storage Inc.AMERCOCubeSmartExtra Space Storage Inc.
  • Table: Public Storage Inc. - financial performance
  • Table: AMERCO - financial performance
  • Table: CubeSmart - financial performance
  • Table: Extra Space Storage Inc. - financial performance

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

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Storage & Warehouse Leasing in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    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.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Storage & Warehouse Leasing in New York:
    • 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 New York 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 New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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