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Europe Self-storage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4856124
  • Report
  • December 2021
  • Region: Europe
  • 152 Pages
  • Mordor Intelligence


  • 24Storage?
  • Big Yellow Group PLC?
  • Lok'nStore Limited?
  • Pelican Self Storage?
  • Self Storage Group ASA
  • SureStore Ltd?

The Europe Self-storage Market is expected to grow at a CAGR of 4.09% over the forecast period (2021 - 2026). The European self-storage market has historically been subjected to moderate growth due to the rise in demand for consumers with improved urban lifestyles. However, the ongoing COVID-19 pandemic has resulted in a significant decline in market growth.

Key Highlights

  • The self-storage market in Europe has evolved with the increasing number of facilities and space offerings across several countries in the region. Driven by the growing urbanization rate, rising population, improved economic outlook, and cramming spaces, the European mass can be noted to rent out spaces for both personal and commercial needs, which has supported the growth of the studied market.
  • Over the forecast period, the studied market is expected to flourish in Europe, owing to the opening of new facilities in the region. Currently, FEDESSA estimates around 104 facilities are under construction, with 53 in the planning pipeline and another 90 speculated under the survey sample.
  • The Self-storage Association (SSA UK) also reported over 1,582 self-storage facilities in the United Kingdom, out of which 381 facilities provide container storage and 765 offer business storage predominately.​ The rising adoption of self-storage services among the elderly and divorced people also fuels the market's growth. According to the recent SSA UK survey, 71% of the country's self-storage customers are 40-69 years old. However, awareness is still a significant concern in the country, as only 46% of the public has a reasonable understanding of self-storage.​
  • Furthermore, with the arrival of emerging technology, the self-storage industry is anticipated to be positively influenced. For example, self-storage software presents features like specialized payment options, facility maps, online access for customers, and gate access integration. The cloud-based self-storage software, which has a centralized database hosted online, has gained popularity among enterprises because of its numerous advantages.​​
  • Owing to COVID-19, vendors, like Self Storage Group, which operates 112 sites across the Scandinavian region, have implemented several safety routines. These include travel restrictions for all workers, remote offices, and many facility disinfection. A management task force is constantly monitoring the latest development and implementing mitigating risk measures on a day-to-day basis.

Key Market Trends

Business Storage Expected to Gain Market Popularity

  • Although self-storage was originally intended for personal storage, businesses have slowly realized the importance of self-storage facilitates. According to the Self Storage Association, businesses account for close to 30% of all self-storage tenants.​
  • Small businesses renting a self-storage unit would be a cost-effective, short-term, or long-term solution to address space management issues. The majority of self-storage business customers are start-ups; for them, it offers a flexible solution for office space, distribution, and storage of goods without requiring lengthy leases.
  • The self-storage operators are now catering more for business customers by offering meeting rooms, free Wi-Fi, and courier services. The advantage for operators is that business customers stay longer than domestic customers, giving them a stable income source.​
  • Safestore, a key vendor in the UK self-storage market, revealed that some stores have reported that small- and medium-sized businesses use up to 60% of their self-storage units. Businesses operating in the e-commerce marketplace, construction companies, etc., have predominantly been using self-storage spaces.​
  • With vendors in the market offering insurance services and advanced surveillance, like video, to safeguard the products stored, more businesses are looking forward to investing in self-storage units to keep their inventory running.
  • Vendors in the market are planning their construction spaces within the radius of small businesses, and in line with their requirements, like climate-controlled units of different sizes.​
  • Recently, Janus International offered its emerging technology-enabled solution, namely “Nokē Smart Entry System,” to replace the traditional unlocking storage process. It is a wireless, cloud-based digital key management solution that allows users to enter the facility using only a smartphone. It provides a fully automated move-in experience to meet today’s self-storage customers. Strategically designed to improve the end-user experience while giving facility managers more time in their day, the Nokē Smart Entry system offers a smarter, more convenient entry and unit access solution.​

Germany Expected to Grow Significantly

Germany has a comparatively low penetration of the self-storage market compared to the United Kingdom and France, but the demand is increasing from commercial customers. As a result, new vendors are entering the market to gain maximum market share in a country with low market penetration.

  • The market in the region is also witnessing growth due to increasing awareness about the availability of these services among both personal and commercial segments. Growing market vendors in the region are also expanding their existing as well as opening new self-storage spaces for storing small and large personal and commercial belongings.
  • Since the European self-storage market is still developing, Germany is still in its nascent stage compared to other countries in the region. However, according to the survey by FEDESSA, Germany has seen some of the most significant growth in supply over the last three years, increasing by around 50% of space.
  • Moreover, major cities in Germany having a higher population are also seeing a rise in popularity of these storage facilities because of the strained housing market due to excess demand and the uneven rise of rents. Factors such as these are expected to increase the demand for self-storage in the region during the forecast period.
  • Germany poses various growth opportunities, as large urban areas with high population densities provide lucrative opportunities for the self-storage market to grow due to lack of space. Additionally, increasing urbanization and the decrease in living space are the main driving forces behind the German self-storage market's growth. The growing urbanization subsequently increases the demand for space, leading to a rise in property prices per square meter. Hence, these factors are leading to market growth.
  • Furthermore, in February 2020, PropTech Sensorberg, which specializes in the digitization of real estate and Smart Storage Solutions, equipped two new locations in Bielefeld and Leipzig with a total of over 10,000 m² with technical infrastructure and software for digital access control for the self-storage provider store more.

Competitive Landscape

The self-storage industry in Europe is fragmented, with most facilities owned and operated by smaller independent operators. However, these operators are consistently developing new storage facilities across Europe. Moreover, companies are making direct investments in self-storage real estate assets through joint ventures or partnerships. Some of the recent developments in the market are:

  • January 2020 - Shurgard signed a purchase agreement for land in Central-east London, and it is expected to receive a building permit for a new storage facility in 2020. The future 85,000 sq. ft self-storage property is expected to open by mid-2021.
  • January 2020 - Safestore Holdings PLC acquired Omb Self Storage SL for about EUR 17.3 million on a debt-free and cash-free basis, marking the UK-based company's entrance into the Spanish self-storage market. OMB Self Storage operates four leasehold properties in Barcelona and one option to acquire the freehold for EUR 4.2 million. The company was 30% owned by its current management, who may remain with the business, and 70% by a Spanish family office. Safestore aims to rebrand the stores and has taken over operation of the sites, effective immediately.
  • May 2021 - SureStore is planning to work with e-commerce businesses that have never been easier! All of their modern self-storage facilities boast a range of business storage units in various sizes (10sqft to 200sqft) to suit any operation. Whether it is a start-up or an old business selling online, the company is expanding its current e-commerce business. SureStore has a cost-effective storage solution for every stock or excess product.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.
Note: Product cover images may vary from those shown


  • 24Storage?
  • Big Yellow Group PLC?
  • Lok'nStore Limited?
  • Pelican Self Storage?
  • Self Storage Group ASA
  • SureStore Ltd?

1.1 Study Assumptions? and Market Definition??
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Impact of COVID-19 on the Europe Self-Storage Market
5.1 Introduction to Market Dynamics??
5.2 Market Drivers??
5.2.1 Increase in Awareness Amongst the People in the Region?
5.2.2 Increased Urbanization, Coupled with Smaller Living Spaces?
5.2.3 Improved Economic Outlook in Many Regions Leading to Business Growth?
5.3 Market Restraints?
5.3.1 Government Regulations with Respect to Commercial Real Estate?
6.1 By User Type
6.1.1 Personal
6.1.2 Business
6.2 By Country
6.2.1 Germany
6.2.2 United Kingdom?
6.2.3 Italy
6.2.4 France
6.2.5 The Netherlands?
6.2.6 Scandinavian Countries (Norway, Denmark, Sweden)?
6.2.7 Rest of Europe?
7.1 Company Profiles
7.1.1 Shurgard Self Storage SA
7.1.2 Safestore Holdings PLC?
7.1.3 Self Storage Group ASA
7.1.4 W P Carey Inc.?
7.1.5 SureStore Ltd?
7.1.6 Big Yellow Group PLC?
7.1.7 Access Self Storage
7.1.8 Lok'nStore Limited?
7.1.9 Lagerboks ?
7.1.10 Nettolager?
7.1.11 Pelican Self Storage?
7.1.12 24Storage?
7.1.13 Casaforte (SMC Self-Storage Management)?
7.1.14 W Wiedmer AG?
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Shurgard Self Storage SA
  • Safestore Holdings PLC​
  • Self Storage Group ASA
  • W P Carey Inc.​
  • SureStore Ltd​
  • Big Yellow Group PLC​
  • Access Self Storage
  • Lok'nStore Limited​
  • Lagerboks ​
  • Nettolager​
  • Pelican Self Storage​
  • 24Storage​
  • Casaforte (SMC Self-Storage Management)​
  • W Wiedmer AG​
Note: Product cover images may vary from those shown