Is the Self Storage Industry Growing?

Is the Self Storage Industry Growing?

Do you find you’re hearing about self storage more now than ever? There’s a good reason for that: the industry is growing, and has been now for many years.

If you’re curious about just how much the sector has expanded in recent years – and how it originated here in the UK – we’re about to give you the answers you’re looking for. First, let’s examine the history of UK self storage.

A brief history

Self storage didn’t start in the UK, but in the US. Born out of a demand for additional space to house the likes of spare furniture, archived paperwork, collectibles and more, the sector began gathering steam across the pond in the 1960s.

Self storage is one of many US exports that have become popular with Britons. But it didn’t get its start here until the 1980s – and even then, the sector was mainly confined to London.

Knowing it had some catching up to do, the UK’s storage industry has been on full throttle ever since, growing rapidly – particularly in the last few years.

The current stats

Curious just how big the sector is? According to the UK’s Self Storage Association (SSA), there are now in the region of 2,050 storage sites available to customers here, 621 of which specialise in container storage.

Add all of those premises together and you have approximately 52 million sq ft of rentable space. That’s just under 1,200 acres! And this is being booked up quicker than ever, with occupancy increasing from 82.3% to 83.3% in 2022.

Last year, the sector turned over £930 million.

According to the SSA’s 2022 annual report…

• People refurbishing their home are three times more likely to consider using self storage now than in 2021
• 41.2% of self storage customers have used storage services before
• Self storage is popular with small businesses; 84% of companies that use it have less than 10 employees
• 89% of customers are satisfied with their self storage service
• 51% of the public have a good awareness of self storage

Self storage in Peterborough

Ready to see for yourself what all the fuss is about? Whether you run a business or simply need extra space to store your belongings, our storage options in and around Peterborough could be just what you need. Get a quote today.