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Growing demand for self-storage and moving services
by Jashpreet

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Services for self-storage and moving -- fixed storage, mobile storage, climate-control, not-climate-control, full-service moving, and DIY truck rental -- are expected to reach $70 billion in revenue in 2020. The advances will be driven by increased mobility across the country, as people and businesses begin to move at higher rates after a recession and an extended slow recovery. The lack of storage space in many Canadian homes will also lead to growth. As can be inferred, the revenue for these services varies greatly by region, state, and municipal area. Source text Regional markets are firstly influenced by local factors such as population size, density, age distribution, mobility, homeownership local cess, and development trends. Locations of Self-Storage and Moving Services Establishments Self-storage and moving services should be located close to their potential customers. Most customers rent storage space or rent trucks within a few miles of their homes. Convenience is important for storage, as consumers want easy access to their goods. This is also important for truck rentals as most people want to reduce their mileage charges. As a result, businesses try and region their institutions inside clean attain of a big capacity pool of customers. Sub-regions with the largest markets In 2016, the two largest markets for self-service and moving services, the South Atlantic and Pacific sub-regions, were nay the most crowded sub-regions. West South Central was the third-largest sub-region, mainly due to higher rates of mobility in the South and West regions than in the others. The Mid-Atlantic sub-region, with a denser population and a larger number of urban areas, often outperforms the more populous eastern north-central sub-region. Factors That Drive Demand However, even in similarly sized areas, other factors can significantly affect revenue. Motility, homeownership, and financial wealth need to be considered. For example, the East North Central, West North Central and East South Central subregions have the highest levels of homeownership, well above the national average of 64 percent. However, self-storage and moving services in these subsectors cost less than average. This trend is mainly due to low population density and the fact that homeowners tend to be less mobile than renters. The economic wealth of an area is indicative of potential warehousing and moving market as it is typically accompanied by a high level of new business construction and building construction, as well as the ability to afford high-value warehousing and moving services. For more details see the full study The study on Movers Self-Storage and Moving Services presents historical demand data and forecasts by service and region. In addition, the study includes factors such as the market environment, the market share of a good company, and the top players in the industry.

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Services for self-storage and moving -- fixed storage, mobile storage, climate-control, not-climate-control, full-service moving, and DIY truck rental -- are expected to reach $70 billion in revenue in 2020.… more...

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Created: 83 d   Jul 28 2021
 
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