Over the past five years, the Parking Lots and Garages industry followed a fairly similar narrative as that of the US economy. Industry revenue dropped with the recession, but began to grow again in 2011. Increases in parking rates and recent improvements in employment figures contributed to this turnaround. In the next five years, growth is expected to continue yet be more volatile due to a decreased reliance on personal automobiles as a result of better pubic transportation and bicycle infrastructure. However, the industry will continue to benefit from municipalities, hospitals and universities outsourcing parking operations.
This industry comprises operators that provide parking and valet service on an hourly, daily or monthly basis. The industry primarily operates via management contracts, lease agreements or property ownership. This industry excludes the storage of vehicles for an extended period of time.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.