Interesting Statistics: Just How Big is the Self-Storage Industry?

self storage industry

Self-storage was a relatively unknown concept a few decades ago. Today, it’s used in almost every country in the world and is a multi-billion dollar industry.

 

The self-storage industry in South Africa

Massive growth in the South African self-storage industry has led to a boom in self-storage companies across the country, with even small towns having their own facilities.

 

There are a few clear industry leaders who are driving the growth of this industry with a more cohesive approach by opening branches in major city centres and then expanding into smaller towns. Because of this growth, the self-storage industry in South Africa is estimated to be worth hundreds of millions of Rand. Companies like XtraSpace are leading the way.

 

The self-storage industry in the United States

The birthplace of the self-storage industry was the United States with the very first facilities opening as early as the 1960s. Within 25 years, the industry covered 100-million square metres of space. Only eight years later, it had grown to 200-million square metres with an estimated 50,000 facilities countrywide.

 

The worth of the self-storage industry in the United States is staggering. Annual revenue in 2014, for example, was estimated at $27 billion.

 

Self-storage in other countries

In the UK, the self-storage industry started later, with the first facilities opening in London in the 1980s. By 2016, the estimated worth of the UK self-storage industry was a staggering £540-million.

 

Across the channel, in Europe, the industry is smaller but is still enjoying impressive growth. Space requirements are growing year on year and the industry saw a 25% increase in transactions over 12 months in 2016, pushing its worth to an estimated €500-million.

 

Australasia has a much younger but no less impressive self-storage industry. Australia’s self-storage industry is thriving, with very high demand for personal storage. Within Asia, self-storage is especially popular in cities like Tokyo, Singapore and Hong Kong – but over the past ten years, the industry has shown very rapid growth in India, China, Taiwan and elsewhere too. It has an estimated worth of $300 million.

 

Self-storage with XtraSpace

self storage

XtraSpace opened its doors in 2008 with its very first self-storage facility in Centurion. Since then, we have expanded and now have branches in most major cities and towns across South Africa.

 

Contact us online or call us 0861 250 259 for more information or browse to find a branch near you.

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