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Shibuya-ku, Tokyo, Japan, Japan, Mar 03, 2022, 04:59 /Comserve / -- Scandinavia Self-Storage market With Top Countries Data, industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Scandinavia Self-Storage Market is expected to grow at a CAGR of 4.7% over the forecast period.
- The Scandinavia Self-Storage Market is still an immature industry, despite the accelerated adoption of the self-storage market. This is principally due to the sluggish growth in the Scandinavia region. Despite, Scandinavian countries are ranking high in terms of consumption per capita, as net household disposable income, according to Trading Economics, in Norway, Sweden, and Denmark grew with 2.07%, 2.37%, and 2.98% respectively by 2020.
- Nevertheless, the self-storage market has expanded significantly in the past few years, due to many growth factors. As per a survey by the Federation of European Self-Storage Association in 2019, there are roughly 4,290 facilities across Europe, rendering over 9.9 million square meters of self-storage space. The three Nordic countries, Denmark, Norway, and Sweden, are among the top seven self-storage markets, which were early adopters of self-storage.
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Key Market Trends
Personal Storage Segment to Drive the Market
- In the present scenario in the Scandinavia region, house owners and customers are going engagingly when it comes to their tangible properties. Inclinations in the housing market support downsizing to compact and small living spaces like condos, which prompt house owners to determine whether they're running or abandoning larger items.
- In the Scandinavia region, in many advanced countries like Norway, Sweden, and Denmark, among others, several building types have flourished like self-storage lockers. They've demonstrated to be one of the most significant income-generating sources in real estate over the past years.
- Administrators in the self-storage services business in the region have profited from constant need from Australian customers over the past five years. Customers that are relocating for work or study often use business services, as few competitive replacements exist. Users in the transition between primary areas of residence are other sources of business requirements.
Norway Expected to Dominate the Market
- Since the Scandinavia self-storage market is still developing, Norway is still in its nascent stage compared to other countries in the region. The growth in this industry in the country is anticipated to be assertive, during the forecast period, due to the trends of grown urbanization and developed economic outlook, which have led to further business growth.
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- OK Minilager is the biggest Self Storage chain in Norway, operating more than 70 facilities across the country. The business gives a low-cost storage solution to both individuals and firms. In addition to price, the firm has a focus on security and ready access for its clients.
- However, in Feb 2020, Self Storage Group ASA has agreed with Wessel-Invest AS to acquire Ulven P28 AS (the 'Target'). The Target is the proprietor of Persveien 28 Ulven, Oslo. The business has a business value of approximately NOK 47 million.
- Increasing urbanization is one of the notable factors that are driving market growth in Norway. According to the World Bank, in 2019, 82.62% of Norway's total population lived in urban areas and cities. The growing urban community means smaller and more expensive living places in towns and the creation of more renters who move around more often.
Competitive Landscape
The Scandinavia Self-Storage Market industry is fragmented, with most facilities owned and managed by smaller autonomous operators. The market consists of many significant players, in terms of demand, few of these members currently dominate the market. These operatives are consistently producing new storage buildings across the region. Also, the organizations are making direct investments in self-storage real estate assets through joint ventures or partnerships. The growth in this industry is anticipated to be positive, during the forecast period, due to the trends of progressed urbanization and updated economic outlook, across Scandinavia, which has led to further business growth.
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS – SCANDINAVIA SELF-STORAGE INDUSTRY
4.1 Current Market Scenario
4.2 PESTEL Analysis – Scandinavia Self-Storage Industry
4.3 Market Positioning Analysis – Scandinavia vs Rest of Europe
4.4 Assessment of the impact of COVID-19 on Self-Storage Industry
5 NORWAY SELF-STORAGE MARKET
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