The Self Storage industry has been around for over 50 years, but the worldwide growth in the industry didn’t occur until the 1980’s. Self Storage is a growing worldwide industry! Currently, there are over 58,000 self storage facilities all over the world. The majority of the self storage facilities are in the United States, which has anywhere from 40,000 to 45,000 facilities. The industry is strong in the United Kingdom and Australia and in some cases, the industry is still growing in these areas. Does self-storage differ in other countries or is the concept similar to storage in the United States? Let’s take a trip around the world to look at how self-storage differs or is the same in other countries.
The biggest and expanding market for self-storage is Asia. The self storage market in China is continuing to grow in larger markets such as Beijing, Shanghai and Shenzhen. As Chinese consumers acquire more “stuff”, they need a place to store these items! Businesses in China are currently the largest market for the self-storage industry. Because renting spaces for business is so expensive, some business entrepreneurs are setting up shop in storage units. Some are using the storage unit for storage of their products, which others are actually using the storage unit as their storefront! Japan’s self-storage industry is still growing. The market is similar to the United States; however Japan’s population is densely packed into a smaller area (about the size of the state of California!) The Japanese live in smaller living areas, so self-storage is a perfect extension of their homes. The cost for renting storage space is higher in Japan, so the standard storage unit is 18 square feet.
The self-storage industry is a newer concept in Latin America, which includes Mexico, the Caribbean, Central and South America. The self storage facilities in these countries currently cater to higher end clients such as tourist, business and the wealthy. Business storage in this region is also more targeted. As the middle class continues to grow in the region, the need for self storage will grow along with the economy.
The two biggest adaptors of self storage outside of the United States are the UK and Australia. While both places have been hit by the down economy in the last few years, the industry still continues to grow. Self storage facilities have been opening up all over Europe. The facilities look a bit different in Europe and the UK due to lack of land. The self storage facilities are usually housed in a multi-level warehouse located near a main road for easier access. The storage units are also smaller ranging in size from 6 foot square to 300 foot square.
As more people buy items, the more they could need a self storage solution! As economies grow around the world, so will the self-storage industry continue with its growth. To find out more about self storage around the world to go ISS (Inside Self Storage), in Europe-FEDESSA (Federation of European Self Storage Associations) or in Japan-Mini Storage Messenger .