Ipsos Business Consulting (IBC), the strategic business-consulting unit of market-research firm Ipsos Group, has published a report examining growth of the self-storage industry in Mainland China. Titled “Mainland China Self Storage Industry Report 2016,” the publication includes an overview across the country, with detailed analysis for the Beijing, Shanghai and Shenzhen markets, according to an executive summary. It also includes information on average monthly rent and types of concessions, top operators in the market, and an outlook on the industry’s future.
The Chinese self-storage market has grown nearly 60 percent since 2014, with the Shanghai market showing an 85 percent increase in the number of facilities, according to the summary. Though Beijing has the most facilities and largest gross floor area, Shenzhen has the most gross floor area per capita.
Though consumer awareness is still a challenge nationwide, self-storage has proven popular in areas where it has established a foothold. Key drivers in these areas are increased demand from residents saddled with decreased living space. “Once consumers understand the value proposition, they are very quick to start using self-storage,” analysts said in the summary.
The report is more than 60 pages and available for purchase through Self Storage Association Asia, a trade association dedicated to supporting self-storage operators and suppliers in emerging markets along the Pacific Rim. IBC is also working on a Hong Kong self-storage report, which it intends to release before the end of the year.
IBC offers domestic and international businesses and organizations “fact-based market analysis” in support of those looking to build, compete and grow in developed and emerging markets around the world, according to its website. Its parent company, Ipsos Group, is an independent market-research firm with offices in 87 countries. Founded in France in 1975, it has been listed on the Paris Stock Exchange since 1999.
- Self Storage Association Asia: Mainland China Self Storage Industry Report 2016