2024 North American Modular Space Rental Market

2024 North American Modular Space Rental Market

Verify Markets' North American Modular Space Rental Market research report includes market size, growth rates, vertical end user split, competitive market share data and revenue forecasts from 2023-2030 for the United States & Canadian markets. The study is a comprehensive analysis including market share splits by size (small, large, customized), power features (unpowered, electrified, solar powered, climate controlled), type (ConexBox, trailer mounted), end user group (construction, commercial, industrial, and government & institutions) and rental provider. Furthermore, profiles of key companies, growth drivers, restraints, challenges, and quotations from industry participants are also included in this analysis of the portable storage rental opportunity.

This study aims to provide a detailed analysis of the North American modular space rental market along with qualitative trends for the year 2023. The market numbers included in this report represent revenues generated by companies operating the portable storage rental market in the U.S. and Canada. The base year for the study is 2023 and the forecast period is from 2023 until 2030.

This study captures the following information on the North American modular space rental market:

Market Size, Growth Rate, Revenue Forecasts (2023-2030)
Growth Drivers & Restraints
Market Data
Quotes by Key Industry Participants
Market Share Analysis
Market Trends
Major Companies Featured: Willscot Mobile Mini Inc, McGrath RentCorp, and ATCO Ltd, among others.

Definitions:

Portable rental solutions usually consist of smaller, standalone structures designed for easy transport and rapid deployment. These rentals are typically used for short-term needs such as temporary offices during construction projects, mobile classrooms for schools, or additional storage space for events. Portable rentals offer quick setup and teardown, making them ideal for situations where flexibility and mobility are paramount.

Modular space solutions involve the construction of prefabricated units off-site, which are then transported and typically assembled on-location. These units can be customized to fit specific spatial requirements and offer a wide range of configurations, including office spaces, classrooms, healthcare facilities, and more. Due to their sturdier construction and ability to be permanently anchored, modular spaces are suitable for long-term use and can withstand various environmental conditions.

In terms of materials, modular space solutions are constructed using durable materials such as steel aluminum, and composite panels, ensuring longevity and structural integrity for long-term use in various environments. In contrast, portable rental solutions (like storage containers) primarily employ corrugated steel for lightweight and transportability prioritizing quick deployment and mobility over long-term durability. This distinction in materials reflects the intended use: modular spaces are tailored for semi-permanent or permanent installations, offering customization and durability, while portable rentals are ideal for short-term needs where flexibility and rapid setup are key considerations.

The primary difference between the two lies in their permanence and customization. Modular spaces are intended for semi-permanent or permanent use and can be tailored to specific requirements, offering greater durability and flexibility in design. Portable rentals, while versatile and convenient for temporary needs, are less customizable and are better suited for short-term projects or events where mobility is essential.

Based on the mode of operation, portable storage rental units can be classified into:

Small - Small modular space solutions can be presented in different configurations such as:

Single-Module Units: Compact and standalone modules for individual offices, small classrooms, or retail spaces.

Compact or Mini Units: Tiny structures suitable for compact living, storage, or small retail purposes.
Portable Kiosks and Booths: Small modules serving as portable kiosks, ticket booths, or information centers.

Large - For more spacious requirements, large modular space solutions come into play. These units are suitable for accommodating larger groups and diverse functions. Spacious housing units provide comfortable workforce accommodations or residential options, while large modular retail spaces can display extensive merchandise.

Customized - These modular spaces offer tailored solutions to meet unique requirements across various industries. These specialized designs cater to specific needs, such as laboratories with advanced scientific equipment, data centers with precise cooling and security features, and soundproof studios for high-quality audio production. They may also serve as medical clinics, art galleries, classrooms with specialized equipment, and industrial control rooms, among many other uses.