Mobile Storage Services in the US Industry Market Research Report Now Available from IBISWorld
Los Angeles, CA (PRWEB) June 21, 2012
The Mobile Storage Services industry provides doorto-door moving and storage services to consumers and businesses. While demand for mobile storage services surged during the commercial and residential building boom, the subsequent real estate bust brought activity to a screeching halt, specifically in the residential sector, according to IBISWorld industry analyst Lauren Setar. The residential market makes up the industry’s largest revenue source, with demand dependent on existing home sales and housing starts. Although up 2.6% in 2012, the industry has fallen at an average annual rate of 2.8% since 2007 to reach $ 7.0 billion. The slowing US economy and the depressed real estate market have hit the Mobile Storage Services industry particularly hard. Demand from both residential and commercial construction markets contracted over the past five years, decreasing industry revenue, employment, profit and establishment numbers. Additionally, corporate markets make up a significant source of revenue for the industry. Over the past five years, the office rental vacancy rate grew at an average 3.4% per year, halting corporate expansion and lessening demand for industry services.
The industry has seen a great deal of merger and acquisition activity, Setar said. The majority of companies in the industry are small and local companies. Likewise, many businesses changed hands and the number of industry firms declined at an average annual rate of 1.0% in the past five years. Overall, the Mobile Storage Services industry has a low level of market share concentration. In 2012, the top four firms in the Mobile Storage Services industry are expected to account for less than a fourth of the industry’s revenue. Mobile Storage operators in the United States range from small independent organizations with just a few facilities to major companies with more than 100 locations. PODS Enterprises Inc. is the industrys largest company, and provides mobile storage services on a nationwide basis, with nearly 140,000 PODS containers in service.
Although the economy has shown some signs of recovery and stability and the industry recorded minimal growth in 2010 and 2011, the industry’s environment remains tough in 2012. However, revenue has made significant recovery since the worst of the economic downturn. Due to improved conditions from the recovering economy, the industry is expected to benefit over the next five years. The expected increase in construction activity, existing home sales and disposable income will help boost industry revenue. Additionally, corporate markets and retail levels will aid revenue growth. As a result, IBISWorld expects industry revenue to grow over the next five years. For more information, visit IBISWorlds Mobile Storage Services in the US industry report page.
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IBISWorld industry Report Key Topics
This industry provides mobile self-storage services mainly to consumers. This industry differs from self-storage operators in that firms in the industry provide customers with door-to-door pick up and delivery service. Additionally, portable storage services, which are not included within this industry, are generally used in the commercial market.
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