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Valet Services in the US Industry Data and Analysis
Since demand for valets is dependent on drivers related to domestic travel and recreation expenditure, revenue has been volatile during the current period. When COVID-19 hit, restaurants, museums, and other venues that used valets could barely operate, which hindered demand for the industry's services. Spending on valets also declined because of less domestic travel, as fewer individuals came into the office or went on vacation out of fear of catching the virus. Revenue soared during the pandemic recovery as the relaxation of social distancing measures caused consumers to return to restaurants and entertainment venues, spurring demand for valets. The population also became less afraid of getting COVID-19 since they were vaccinated, so domestic travel rose. Spending in parking lots and garages with valets rose as a result, aiding revenue growth. While valet companies benefited from soaring revenue during the recovery, high inflation caused the Federal Reserve to increase interest rates, inducing recessionary fears. Concern about poor economic conditions in the future has caused households to reduce discretionary spending. Since fewer people have been going to restaurants and traveling domestically, demand for valet services has declined. Overall, revenue for valet companies in the United States is anticipated to creep downward at a CAGR of 1.2% during the current period, reaching $1.8 billion in 2024. This includes a 0.9% increase in that year.
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What's included in this industry analysis
IBISWorld's research coverage on the Valet Services industry in the United States includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released January 2024.
About this industry
What's this industry report about?
The Valet Services industry in the United States operates under the NAICS industry code OD6452. Companies in this industry park and retrieve customers' vehicles for a fee. Valets park and retrieve vehicles, maintain the car and parking facilities and offer consulting, signage, digital marketing and loss prevention services. Markets served include parking garages, hotels and casinos, entertainment venues and hospitals. Related terms covered in the Valet Services industry in the United States include management contract , stacked parking and drive-in rates.
What's included in this industry?
Products and services covered in Valet Services industry in the United States include Parking and retrieving vehicles, Car and parking facility maintenance and Premium services.
What companies are included in this industry?
The Valet Services industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Valet Services industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Valet Services industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Valet Services industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Valet Services industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Valet Services industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Valet Services industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Valet Services industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Valet Services industry in the United States.
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Frequently Asked Questions
What is the market size of the Valet Services industry in the United States in 2026?
The market size of the Valet Services industry in the United States is $1.8bn in 2026.
How many businesses are there in the Valet Services industry in the United States in 2024?
There are 1,348 businesses in the Valet Services industry in the United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Valet Services industry in the United States grown or declined over the past 5 years?
The market size of the Valet Services industry in the United States has been declining at a CAGR of 1.2 % between 2019 and 2024.
What is the forecast growth of the Valet Services industry in the United States over the next 5 years?
Over the next five years, the Valet Services industry in the United States is expected to grow.
What does the Valet Services industry in the United States include?
Parking customer vehicles and Retrieving customer vehicles are part of the Valet Services industry in the United States.
How competitive is the Valet Services industry in the United States?
The level of competition is moderate and steady in the Valet Services industry in the United States.
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