The Market Insights Reports has added a new statistical data to its repository titled as, Singapore Self-Storage Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The Singapore self-storage market is expected to grow at 6.3% CAGR during the forecast period of 2021-2026.
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Top Key Players in the Singapore Self-Storage Market are Storefriendly Self Storage Group Ltd, LOCK+STORE Singapore (Singapore Post Limited.), Beam Storage Pte Ltd., Mandarin Self Storage, StorHub Holding Pte. Ltd., Far East Organization (Store-Y Self-Storage), U-Store@SG (Singapore G Pte Ltd), Extra Space Asia, and others.
Industry News and Update:
– In June 2020, as part of its COVID-19 response, Singapore-based self-storage operator StorHub entered into a partnership with GoGoVan, an Asia-based, ridesharing service specializes in transporting goods in urban areas. The strategic alliance will give StorHub customers flexible moving and self-storage options, while government lockdown restrictions are in place.
– In May 2020, United-Hampshire US REIT, a US-based REIT with interests in grocery-anchored retail stores and self-storage, recently listed an IPO on the Singapore stock exchange. Sponsored by US-based real estate investment company Hampshire Cos. LLC and asset-management firm UOB Global Capital LLC, the company’s 22-property portfolio comprises 3.17 million square feet. It also includes more than 15 shopping centres and four self-storage operating offices.
Key Market Trends:
Increased Urbanization, Coupled with Smaller Living Spaces is Expected to Drive the Self-Storage Demand in Singapore
– Singapore is a hub for everything from business to travel. According to Worldbank data, Singapore has an average urban population near to 100%, with an overall population of 5.8 million in 2019. Due to the enormous urban population in the country, space can be significantly hard to come across in urban places. The vast majority of homes in the country are on the small side, and there are less spacious rooms in most of the apartments.
– The urban population living in Singapore usually invest in the rental of self-storage units. Self-storage unit rental has proved to be handy for people in Singapore who have possessions that are big and, therefore, tough to keep things around. It is also an attractive choice for Singapore residents who have belongings that they don’t use that often.
– Companies like Store-Y Self-Storage have opened several self-storage stores near to the urban communities to lower the proximity to the customers. The company has a center called Self Storage Woodlands, which is an acclaimed center in Woodlands Community in the North Region.
– The continual growth of Singapore’s economy in the last couple of years has given rise to greater resident affluence and consumerism. Therefore, there is a significantly higher tendency for more urban people to accumulate articles, particularly collectibles like electrical equipment, wines, and ornaments. With a growing number of hobbyists, there is an increasing requirement for specialized space to store different types of collectible items. A few years back, about 90% of LOCK+STORE Singapore’s wine storage solutions have been subscribed by domestic users, and going forward; the self-storage vendor is looking to expand this potential segment of the business.
Full Browse the report description and TOC:
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Singapore Self-Storage market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Self-Storage market size analysis for the review period 2015-2026.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Self-Storage market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Self-Storage market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Self-Storage report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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