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
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.