Parking Services in Australia - Industry Market Research Report

Parking Services in Australia
The COVID-19 pandemic has hurt Parking Services industry particularly hard. Growth in the number of motor vehicles and rising airport patronage fuelled revenue growth in 2018-19. However, the COVID-19 pandemic in early 2020 significantly deteriorated parking demand, causing a sharp drop in revenue, staff reductions and bringing about new consumer parking preferences. Revenue is forecast to decline at an annualised 3.5% over the five years through 2023-24, to an estimated $1.9 billion. This trend includes a projected decline of 0.6% in 2023-24 due to significant revenue growth in 2022-23.

Industry firms provide parking space for motor vehicles, generally on an hourly, daily or monthly basis. These operations include parking garages, parking stations and valet parking. Council operated car parks are excluded from the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.