1.1 Definition and scope of the study
Private parking lots are used for non-commercial use of parking space for motor vehicles. Paid parking lots may be considered "public" if they are regulated by municipalities. Private parking lots are often large, multi-story paved buildings and can be used for short-term parking or long-term storage of vehicles.
The global parking market is growing in line with global urbanization and the increasing number of vehicles on the road. In fact, the global private parking market is showing continued growth and is expected to remain so in the coming years. The parking market is expected to reach $140 billion in 2025, up from $44 billion in 2015. The market size, measured by revenue, of the Car Parks industry is £1.1bn in 2021. The market size of the Car Parks industry is expected to increase 10.2% in 2022. UK road traffic levels have fallen by 73% since the lockdown measures were introduced, and were at their lowest since 1955 – a stark indication of how hard the industry has been hit.
in 2018, Europe counted just under 500 million parking spaces, less than 15 million of which were private. In the UK there ar 17,000 - 20,000 car parks across the country where people regularly park their vehicles. Of those, It is estimated there are around 6,000 multi-storey car parks.
The five major players in the private parking industry in Uk are APCOA, Q-Park, NCP, Britannia Parking, and Purple Parking. While APCOA e Britannia Parking only manage car parks but do not own them, NCP and Q-Park also own car parks in addition to managing them. Then there is Purple Parking which act mainly as a booking agent for other airport parking service providers but they also provide park and ride services.
Across the UK, the average cost of parking in an off-street car park is £1.10 per hour. London, unsurprisingly, came out worst in the study of parking charges, with drivers in the capital forking out nearly three times the national average. The same applies to Oxford. At the other end of the table, drivers in Northern Ireland enjoy some of the lowest parking rates around
Future trends in the sector are the rise in data and integration, the switch to electric cars and the acceleration of autonomous vehicles.
1.2 The global private parking market
The global parking market is growing in line with global urbanization and the increasing number of vehicles on the road. In fact, the global private parking market is showing continued growth and is expected to remain so in the coming years. The parking market is expected to reach $*** billion in ****, up ...
1.3 UK Market
The market size, measured by revenue, of the Car Parks industry is £*.*bn in ****. The market size of the Car Parks industry is expected to increase **.*% in ****. The market size of the Car Parks industry in the UK declined faster than the economy overall and faster than the Consumer Goods & Services ...
1.4 Covid Impact
Figures published by the Cabinet Office indicate UK road traffic levels have fallen by **% since the lockdown measures were introduced, and were at their lowest since **** – a stark indication of how hard the industry has been hit.
However, as soon as locdown measures were loosened and people went back to work, ...
2.1 Number of cars in UK
At the end of **** there were **,***,*** cars licensed in Great Britain (***). Over the past ** years, the number of cars in GB has risen **.*%. If growth continues at the same pace, we could have ** million cars on British roads by ****.
In **** the number of cars dropped (***)—while this is likely related to ...
2.2 Geographical distribution of demand
In ****, households in England had an average of *.** cars. However if we exclude London (***)
The biggest decrease in car ownership per household has occurred in London. In the ** years from **** to ****, the number of cars per household in London dropped *%, from *.** to *.**.
The biggest increase in car ownership per household was ...
2.3 Analysis of trips in Uk by type of transportation mode
On average, people in England made *** trips across private and public transport modes in ****. In ****:
the average number of trips fell **% compared to **** private transport accounted for the vast majority of trips (***)
How much english people travel on public transport ? Uk, ****, in % Source: ****
In **** the most used type of private transportation ...
2.4 Attitudes toward different types of transportation
Despite government efforts to get more people on public transport to cut congestion and pollution, Britons would still rather hop in the car
As governments around the world look for ways to get citizens out of cars and onto public transport for health and environmental reasons, a new YouGov RealTime survey ...
2.5 Costs and lost time due to parking search
UK drivers spend an average of ** hours a year searching for parking, at a cost of £*** each in wasted time, fuel and emissions, a total of £**.* billion across the country
Overpaying for parking costs British motorists up to an estimated £*.* billion a year or £*** per driver; UK drivers also pay £*.* billion ...
3.1 Main market players
In the UK there ar **,*** - **,*** car parks across the country where people regularly park their vehicles. Of those, It is estimated there are around *,*** multi-storey car parks . (***)
The five major players in the private parking industry in Uk are APCOA, Q-Park, NCP, Britannia Parking, and Purple Parking. While APCOA e ...
3.2 Mid-size operators
Below is a list of some mid-size operators in the UK. This list includes both parking management companies, which manages and provides specialized services in different types of car parks, both companies that own car parks. There are companies that deal with different types of car parks: city centres, airport parkings ...
3.3 Inudstry Innovation: parking space letting agents
ParkLet was launched in **** to offer an alternative to traditional parking. Parking had, and continues to, become ever more expensive and more difficult to find. The founder members had noticed unused private parking spaces in areas where parking was in high demand. ParkLet was created to offer an effective marketplace ...
3.4 Future trends in the sector
The rise in data and integration
Many companies and landowners are gaining a deeper understanding of their car park usage from the data provided in their car park management system. You can gain valuable insight into your visitor’s parking behaviour. From visitor duration and loyalty to occupancy and capacity, there ...
4.1 Overview of the offer
We can distinguish the supply of parking lots according to their different structure and according to their type or function.
Surface parking lots
Surface parking lots are parking lots on the same level, usually bounded by a fence, barriers, etc. This type of parking can be off-street or on-street. The ...
Across the UK, the average cost of parking in an off-street car park is £*.** per hour. London, unsurprisingly, came out worst in the study of parking charges, with drivers in the capital forking out nearly three times the national average. The same applies to Oxford. At the other end of the ...
4.3 Cost of building a parking garage
The national average price to build a parking garage ranges from $*.*M to $**M with most people paying around $*.**M for a ***,*** sq.ft. multi-level parking garage above ground. The lowest costs associated with this project are $***,*** for a **,*** sq.ft. surface lot. The highest costs are $**M for a ***,*** sq.ft. ...
The Private Parking Code of Practice is published by the Secretary of State for the Department for Levelling Up, Housing and Communities (***).
Attention is drawn to the following specific regulations and codes of practice:
The Protection of Freedoms Act **** The Parking (***) Act **** The Vehicle Excise and Registration Act **** The Surveillance Camera ...
- National Car Parks
- APCOA UK
- Total Car Parks
- Ace Parking
- Just Park
1 sector analyzed
in 40 pages
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Very interesting study on a market that has been evolving for 10 years.
Thank you Karine for your opinion!
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This market, a sub-segment of e-commerce, is a real new adventure. The estimates of its size and its extremely strong growth prospects are surprising The interview with the founder of Grenadia is truly amazing
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The subscription box market - France
Publicado en 26/07/2021 by Elodie Perez Sanchez
A simple and understandable study that sheds light on an area where little information is available.
Hello Elodie, Thank you for your feedback on our study, we are delighted that it gave you a good overview of the market. :)