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In 2017, the clear leader of the U.S. self-storage market was Public Storage, whose **** billion U.S. dollars in annual revenue was almost two and a half times higher than their nearest competitor, Extra Space Storage.

Self-storage

The self-storage industry refers to companies who rent out private storage space, such as rooms, lockers, containers and outdoor space, to individuals or businesses. The customer uses their own lock and key to secure the space, meaning that the storage provider does not have casual access to what the customer has stored. In this key respect self-storage differs from traditional warehousing. The industry appears to be growing, with the amount of new self-storage space completed in the U.S. in 2018 being over three and a half times higher than in 2015, although the extra space has led to slightly higher vacancy rates.

Market leaders

With the highest annual revenue of all U.S. self-storage providers, it is perhaps not surprising that Glendale, California-based market leader Public Storage also operates the highest number of self-storage facilities, and rents out the most space in terms of square feet. However, in terms of national coverage, Public Storage is beaten out by U-Haul, who operated in ** states in 2017 compared to Public Storage’s ** states.