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1 Market overview

1.1 Definition and scope of study

A self-storage is a specialized unit in which it is possible to temporarily store furniture and personal belongings, and where the access is autonomous and free of charge.

The self-storage market therefore concerns, on the supply side, specialists in the rental of spaces dedicated to the storage of furniture or movable objects, for a period that varies greatly, from a few days to several months. These spaces are also very variable in size, ranging from simple lockers to small warehouses.

The increase in the rate of urbanization is one of the major factors driving the growth of the self-storage market worldwide. This trend results in smaller and progressively more expensive living areas in cities, such as London, where the self-storage market is among the most mature in Europe. Although the market is dominated by North America and Europe, Asia-Pacific is expected to grow faster due to increasing population density and rising economic conditions, especially in China or India, but also in Australia and New Zealand. In addition, the growing trend of online shopping and the development of the e-commerce industry has enabled vendors to rent their storage space in many locations.

The Italian self-storage market is, on the other hand, quite young compared to the European market, with less than a hundred installations in the whole country nowadays. The very weak competition meets a niche but growing demand. This bilateral oligopoly offers interesting investment prospects, considering the Italian gentrification that follows the global trend. A survey by Tecnocasa, one of the major Italian real estate groups, indicates through a poll conducted in 2019 in Milan that two-roomed flats are the most requested real estate, with 45.1% of Italians preferring this type of property. At the same time, the demand for studios had increased by 6.1%.

The Covid 19 crisis has caused a rupture in the Italian self-storage sector. Although the health crisis only had a moderate impact on the sector's turnover, it profoundly changed Italians' habits. The rise of remote working and social distancing, as well as the optimization of company resources, will then fuel the self-storage market.

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the furniture storage market | Italy

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