Open spot: Industry revenue growth will be buoyed by rising disposable income and vehicle purchases
Over the current period, parking lot companies faced considerable declines. The outbreak of COVID-19 hammered parking lot companies alongside many key downstream markets. While parking lot companies returned to growth in 2022, they have not recovered from pre-pandemic levels. Industry-wide revenue has been falling at a CAGR of 7.2% over the past five years and is expected to total $348.1 million in 2023, when revenue will inch up by an estimated 0.5%.
Operators in the Parking Lots and Garages industry in Canada provide parking and valet services for motor vehicles on an hourly, daily or monthly basis. Industry participants operate via management contracts, lease agreements or property ownership.
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's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Toronto Parking Authority
- Indigo Group SAS
Methodology
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