The Europe Self-Storage Market size was estimated at USD 2,750.29 million in the current year. The market is expected to reach USD 3,671.84 million in five years, registering a CAGR of 5.95% during the forecast period.
The self-storage market is a sub-sector of retail real estate. Over the forecast period, driven by higher urbanization and a better business outlook across regions, growth in this industry is predicted to be robust as new businesses emerge.
The European self-storage Market is fragmented, with most facilities owned and operated by smaller independent operators. At the same time, new storage facilities are constantly being built by these operators throughout Europe. In addition, joint ventures or partnerships are the means for companies directly investing in self-storage real estate.
In July 2023, Shurgard Self Storage SA announced the opening a new self-storage building in the Netherlands in Amersfoort (Randstad). The combined size of the building comprises over 1,100 units and will meet the growing demand for secure and accessible storage options in the Randstad area.
In October 2022, SmartStop Self Storage REIT Inc., starting with the start of the NTT INDYCAR SERIES season in 2023, a self-managing and complete integrated storage company, has been named an official sponsor of Arrow's McLaren SP Team and its No.6 Chevrolet Corvette driven by Felix Rosenqvist.
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