Press release
Singapore Self-Storage Market 2021 Status and Business Outlook - Storefriendly Self Storage Group Ltd, LOCK+STORE Singapore (Singapore Post Limited.), Beam Storage Pte Ltd
The Singapore Self-Storage Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The Singapore self-storage market is expected to grow at 6.3% CAGR during the forecast period of 2020-2025.
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Top Leading Companies of 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) and others.
Industry News and Updates
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 centers 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.
Regional Outlook of Singapore Self-Storage Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Singapore Self-Storage Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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