Global Parking Lots And Garages Market: Growth, Demand, Size And Share And Forecast To 2031

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The global parking lots and garages market report by the business research company the lack of sufficient parking due to rising motor vehicles use in developing economies to be a major growth driver for the parking lots and garages market. Market liberalization has caused a severe increase in transport, one of the important economic sectors, and its operational efficiency, which in turn has led to increased stagnant traffic in cities. For instance, in India, the average volume of traffic related to parking during peak times can reach 30%-50% of total traffic according to a research study published by the Journal of Traffic and Transportation Engineering. The commuters in Indian cities spend over 80 hours a year looking for parking spaces due to the lack of parking spaces in Indian cities amid a growing population of vehicles. The imbalance between parking supply and parking demand due to the increasing use of vehicles in developing economies is driving the market

The global parking lots and garages market grew from $85.9 billion in 2021 to $92.15 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The parking lots and garages market is expected to grow to $97.17 billion in 2026 at a CAGR of 1.3%.

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North America was the largest region in the parking lots and garages market in 2021. Asia Pacific was the second largest region in the parking lots and garages market. The regions covered in the parking lots and garages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Major players in the parking lots and garages market are SP Plus Corporation, LAZ Parking Ltd. LLC, ABM Industries Inc, Ace Parking Management Inc, Diamond Parking, Lanier Parking, TPS Parking, Impark, Indigo, Park24 and Wilson Parking

The global parking lots and garages market is segmented -
1) By Type: Airport Parking And Garages, Events And Venues (Stadiums For Sporting Events), Healthcare Parking, Hospitality Parking, Municipal Parking, Office Parking, University Parking, Retails Parking, Residential Parking
2) By Site: Off Street, On Street
3) By Technology: Smart Parking using IoT, Automation

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The Parking lots and garages market Report Contents Include
1. Executive Summary
2. Parking Lots And Garages Market Characteristics
3. Parking Lots And Garages Market Trends And Strategies
4. Parking Lots And Garages Market - Macro Economic Scenario
5. Parking Lots And Garages Market Size And Growth
.......
26. Africa Parking Lots And Garages Market
27. Parking Lots And Garages Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Parking Lots And Garages Market
29. Parking Lots And Garages Market Future Outlook and Potential Analysis
30. Appendix

This report covers the trends and market dynamics of the parking lots and garages market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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