Unboxing Australia’s $1 Billion Storage Industry

Posted on Dec 9 2016 - 4:37am by Business Day TV

Storage IndustryThe storage industry in Australia is a sterling $1.1 billion, which also has the annual growth rate of 3.3 per cent year over year, according to the IBISWorld industry report.

Tristan Williams, senior analyst on the Australian storage economy says, “The industry has benefited from several factors, including the fact that more Australians are moving to major cities and into smaller apartments or townhouses. The report found there was an increasing demand from people relocating short-term for work or study.”

A Free Market

While at least three major storage empires exist in the country, this doesn’t stop hundreds of smaller storage solutions from penetrating the market with much success. New businesses continue to shake and mix up the market with their innovative storage business structure. This growth and development also extend to storage materials providers, like Containit Solutions.

Mike Rosenbaum, a specialist in the field states, “What we’re finding is [extra storage] allows people to live the lifestyle they want to live – typically close to the city or closer to amenities. Many people choose to store sporting equipment such as kayaks or golf clubs, or nursery items”.

Not Exactly a Seasonal Market

As apparent as it seems, the storage industry isn’t an all-year-round business, especially for providers who are still on the verge of building their credibility and clientele network. Susan Phillips, CEO of the Self Storage Association of Australasia says that “it’s not all boom times. Downturns in other industries have led to tougher competition among storage facilities, particularly those in Western Australia, and parts of the Northern Territory and Northern Queensland.” But, considering how other industries fluctuate occasionally, the storage industry benefits in the process.

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The contents of the storage industry in Australia, while inherently kept sealed, is an interconnected network. When other industries make it hard for the people to hold onto their belongings, storing them someplace else becomes extremely relevant and much needed.