Germany Self-Storage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)

The German Self-storage Market is Segmented by User Type (Personal, Business). The Market Sizes and Forecasts are Provided in Terms of the Number of Facilities and Total Lettable Area (in square meters).

Germany Self-Storage Market Size

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Germany Self-Storage Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 2.80 %
Market Concentration Low

Major Players

Germany Self-Storage Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Germany Self-Storage Market Analysis

The Germany Self-Storage Market is expected to register a CAGR of 2.80% during the forecast period(2024-2029).

The Germany self-storage market had a total lettable area of 0.71 million square meters in the previous year and is expected to register a CAGR of 2.00%, reaching 0.83 million square meters of total lettable area over the forecast period. The self-storage industry is a subsector of the commercial real estate market. The growth in this industry is expected to be positive during the forecast period, owing to increased urbanization and an improved economic outlook across the regions, which have led to new business growth.

  • Germany has a comparatively low penetration of the self-storage market compared to other European countries, but demand is increasing from personal and commercial customers, which is contributing to the growth rate of the market. As a result, new vendors are entering the market to gain maximum market share in a country with low market penetration.
  • Due to a scarcity of available space, Germany offers a variety of growth opportunities for the self-storage industry. This is particularly the case in large cities with dense populations.
  • The major factors fueling the expansion of the German self-storage sector are rising urbanization and a decline in available living space. The need for space consequently rises as urbanization grows, pushing up the price of real estate per square meter. Hence, these elements are fueling market expansion. However, government regulations are expected to challenge the market's growth.
  • Although self-storage was originally intended for personal storage, businesses have slowly realized the importance of self-storage facilities. For small businesses, renting a self-storage unit would be a cost-effective, short-term, or long-term solution for addressing space management issues.
  • The COVID-19 pandemic positively impacted the growth of self-storage facilities in the country. Occupancy levels across self-storage facilities have grown significantly since the start of the pandemic.

Germany Self-Storage Market Trends

Rising Urbanization and Smaller Living Spaces Drive the Market

  • Germany offers numerous growth opportunities, as large urban areas with high population densities provide lucrative opportunities for the self-storage market to grow due to a lack of space. Furthermore, rising urbanization and shrinking living space are the primary driving forces behind the German self-storage market's expansion. Growing urbanization raises the demand for space, causing property prices per square meter to rise. As a result, these factors are fueling market growth.
  • Central cities in Germany with a higher population are witnessing a rise in the popularity of these storage facilities because of the strained housing demand caused by excess need and the uneven range of rents. Factors such as these are expected to increase the demand for self-storage in the region during the forecast period.
  • According to UN DESA, in 2015, approximately 77.2 percent of the total population in Germany lived in urban areas, and it was expected that the corresponding figure in 2050 will be 84.3 percent.
  • As people move to cities, they have less space for all their possessions. Downsizing to smaller homes in any location also plays a large role in the storage market. Decreasing rural opportunities due to the consolidation of operations is forcing the population to have more condensed population densities in cities where the studied market solves a primary problem of space allocation. Self-storage offers a cost-effective and convenient way of freeing up space at home by storing items that one does not have space for.
  • Hence, increased urbanization and rising house prices mean that living spaces are getting smaller and smaller. This has presented the self-storage vendors in the region with a lucrative opportunity to build such spaces that allow them to store their belongings safely and securely at a cheap price.
Germany Self-Storage Market: Forecast of Urbanization, in Percentage (%), in Germany, 2000-2050

Business User Type to Hold Significant Market Share

  • Businesses have gradually witnessed the value of self-storage facilities, although they were initially designed for personal storage. Renting a self-storage facility is ideal as a cost-effective, long- or short-term solution to space management problems.
  • The organization and efficiency of a corporation may suffer from crowded offices. There is less space to move around, and it is easy for crucial objects to get misplaced because of the disorder. Businesses may get rid of inventory, documents, equipment, and other items not required for regular business operations by renting a storage facility.
  • Several companies are increasingly looking forward to investing in self-storage facilities to maintain their inventory because vendors in the market provide insurance services and advanced surveillance, including video, to preserve the items stored. Market vendors are designing their building sites close to small enterprises and following their needs, such as climate-controlled units in various sizes, etc.
  • However, in the past, small businesses opted to store materials in their garage. This may be possible, but the location can be unsafe and not environmentally sound enough to prolong the life of the merchandise. Renting a storage space assures the security of the items, as most facilities have safety protocols and an agreement with customers regarding the loss of items.
  • Also, the number of commercial renters, already one-fifth of the tenant base, may grow as small businesses consider alternatives to traditional warehouse space. The smaller space options, more affordable costs, and shorter lease terms often favor smaller companies, according to the warehousing and storage in Germany from 2012 to 2019, with a forecast to 2025. It is projected that the revenue from warehousing and storage in Germany will amount to approximately USD 12.32 billion by 2025.
Germany Self-Storage Market: Industry Revenue of Warehousing and Storage, in USD Billion, in Germany, 2012-2025

Germany Self-Storage Industry Overview

The German self-storage market is fragmented with the presence of major players like XX LAGER Self Storage, Hertling GmbH & Co. KG, and Rousselet Group (HOMEBOX). Players in the market are adopting strategies such as partnerships, innovations, mergers, company expansion, and acquisitions to enhance their product offerings and gain a sustainable competitive advantage.

In August 2023, MyPlace-SelfStorage is planning eight new “hotels for things” Affordable storage space for Berlin, where a house is currently under construction in Berlin Tegel, three houses in Berlin Charlottenburg, Wittenau, and Marzahn are being expanded, and seven more are being planned. Around 13,000 compartments on 82,000 square meters are currently available to Berliners. With the new or planned locations, around 8,000 more compartments will be added.

In November 2023, Shurgard, one of the the largest developers and operators of self‐storage facilities across Europe launched a share capital increase in cash via an accelerated book building with international institutional investors (“the Capital Raise”).

Germany Self-Storage Market Leaders

  1. Shurgard Self Storage SA

  2. Space Plus

  3. XXLAGER Selfstorage

  4. Hertling GmbH & Co. KG

  5. Lanzell Spezialtransporte

*Disclaimer: Major Players sorted in no particular order

Germany Self-Storage Market Concentration
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Germany Self-Storage Market News

  • November 2023 - Shurgard, one of the largest developers and operators of self-storage centers in Europe, has received planning permission for a self-storage facility in the Dusseldorf region, one of Germany’s “Big Seven” cities, Where the future c. 5,800 Sqm purpose-built self-storage facility is set to open in 2024 and will offer approximately 750 clean and secure self-storage units to local residents and businesses.
  • March 2023 - MyPlace-Self Storage has been involved in various projects in the area of sustainability for years. In addition, the company has launched “exchange room,” another campaign in the spirit of sustainability: the creative and neighborhood market, where clothing, decorative items, and books get a chance at a new life and in addition to second-hand goods, the creative and neighborhood market also offers products from regional Berlin startups and smaller companies.

Germany Self-Storage Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Greater Urbanization Coupled with Smaller Living Spaces

      2. 5.1.2 Changing Business Practices and COVID-19 Consumer Behavior

    2. 5.2 Market Restraints

      1. 5.2.1 Government Regulations on Storage

  6. 6. MARKET SEGMENTATION

    1. 6.1 By User Type

      1. 6.1.1 Personal

      2. 6.1.2 Business

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Shurgard Self Storage SA

      2. 7.1.2 Space Plus

      3. 7.1.3 XXLAGER Selfstorage

      4. 7.1.4 Hertling GmbH & Co. KG

      5. 7.1.5 Lanzell Spezialtransporte

      6. 7.1.6 Klassik Umzüge

      7. 7.1.7 Pickens Selfstorage GmbH

      8. 7.1.8 SelfStorage Dein Lagerraum GmbH (My Place Storage)

      9. 7.1.9 BOXIE24

      10. 7.1.10 Rousselet Group (HOMEBOX)

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

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Germany Self-Storage Industry Segmentation

Self-storage facilities give people access to space to rent and store household or business possessions. Rental agreements for storage space, often known as storage units, are month-to-month agreements. Self-storage allows the user much greater control than full-service storage options, which restrict the customers' access to their possessions and depend on the storage provider to maintain and manage them.

The German self-storage market is defined based on the revenues generated from the services used by various user types. The analysis is based on the market insights captured through secondary research and the primaries. The market also covers the number of self-storage facilities, total lettable area, occupancy rate (%), and average rent per square meter, along with major factors impacting the growth of the market in terms of drivers and restraints. The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study also tracks the revenue accrued from the self-storage services that are being used across Germany. In addition, the study provides Germany's self-storage market trends and future outlook. The study further analyzes the overall impact of COVID-19 on the ecosystem.

The German self-storage market is segmented by user type (personal, business). The market sizes and forecasts are provided in terms of the number of facilities and total lettable area (in square meters).

By User Type
Personal
Business
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Germany Self-Storage Market Research Faqs

The Germany Self-Storage Market is projected to register a CAGR of 2.80% during the forecast period (2024-2029)

Shurgard Self Storage SA, Space Plus, XXLAGER Selfstorage, Hertling GmbH & Co. KG and Lanzell Spezialtransporte are the major companies operating in the Germany Self-Storage Market.

The report covers the Germany Self-Storage Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Germany Self-Storage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Germany Self-Storage Industry Report

Statistics for the 2024 Germany Self-Storage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Self-Storage analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Germany Self-Storage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)