Market Size of Germany Self-Storage Industry
| 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
*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.
