Storage and Warehouse Leasing in Canada Industry Market Research Report Now Available from IBISWorld

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As consumers grow older and move out of single-family residences into apartments, condos and nursing facilities, many will require more space to store the belongings they've accumulated over a lifetime. For these reasons, industry research firm IBISWorld has added a report on the Storage and Warehouse Leasing industry to its growing industry report collection.

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Coming off of a mild slowdown during the recession, the Storage and Warehouse Leasing industry in Canada has surged over the past five years. Per capita disposable income has risen consistently in Canada since the economic recession, alongside demand for additional space to store purchases. “The number of businesses using self-storage has also increased to meet growing demand,” according to IBISWorld Industry Analyst Will McKitterick. Finally, the rental vacancy rate took a steep drop during the beginning of the period, signalling a sharp increase in the number of Canadians moving into apartments. Consumers are more likely to need additional storage space when renting apartments. As a result, industry revenue is expected to grow at an annualized rate of 4.1% over the five years to $648.0 million in 2015, including a milder increase of 0.2% this year.

While self-storage and mini-warehouse facilities are well known in the United States, they are relatively new to the Canadian public. Industry concentration has been extremely low over the past five years, with only two operators controlling more than 5.0% of the industry. While the vast majority of storage operators are small, independent businesses, a number of larger real estate investment trusts from the United States have decided to migrate north to expand their business in Canada. “These operators have leveraged their size and scale to expand their businesses through a series of acquisitions that have resulted in some industry consolidation over the period,” says McKitterick. Meanwhile, the number of new industry entrants continues to grow, enticed by the low cost and high profit margins associated with self-storage management.

IBISWorld expects growth in the Self-Storage and Warehousing industry to maintain steady over the next five years, albeit at a slightly slower pace. Primary industry drivers, such as per capita disposable income and the number of businesses, are projected to continue to improve. Furthermore, the vast majority of baby boomers (adults aged 65 and older) will enter retirement, increasing their probability of using self-storage facilities. As consumers grow older and move out of single-family residences into apartments, condos and nursing facilities, many will require more space to store the belongings they've accumulated over a lifetime. IBISWorld expects these conditions to help the industry grow over the next five years.

For more information, visit IBISWorld’s Storage and Warehouse Leasing in Canada industry report page.

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IBISWorld industry Report Key Topics

This industry primarily rents or leases self-storage space. Industry operators provide spaces where customers can store and retrieve their belongings at their convenience. Industry storage units include rooms, compartments, lockers, containers and outdoor space.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld Inc.
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