UK Dominates Europe Self Storage Market with Over 39.2% Share Amid E-Commerce Boom

Market Overview

The Europe self storage market was valued at USD 26.6 Billion in 2024 and is projected to reach USD 34.7 Billion by 2033, reflecting a compound annual growth rate (CAGR) of 3.0% during the forecast period. The market growth is primarily driven by mounting urbanization, rising demand for space in crowded urban areas, and the expansion of e-commerce. Lifestyle changes such as downsizing and flexible living strategies are further fueling demand across the region.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Europe Self Storage Market Key Takeaways

• Current Market Size: USD 26.6 Billion (2024)
• CAGR: 3.0%
• Forecast Period: 2025-2033
• The United Kingdom dominates the market with over 39.2% share in 2024.
• Technological advancements including digitalization and automation are transforming the industry.
• Rising urbanization is a key growth driver, with Europe’s urbanization level projected at 83.7% by 2050.
• Expansion of e-commerce is accelerating the demand for storage spaces, especially in urban locations.
• Medium storage units, ranging 3 to 9 square meters, are the largest segment by storage unit size, holding around 45.7% share in 2024.
• Personal end use leads the market with approximately 55.3% share in 2024.

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Market Growth Factors

The self-storage market in Europe is significantly propelled by increasing urbanization and the concomitant demand for space in densely populated areas. As more people relocate to urban centers for employment and education, living spaces shrink, leading to a surge in the need for external storage. Europe’s urbanization level is projected to hit around 83.7% by 2050, with countries like the United Kingdom, Germany, and France experiencing pronounced urban population growth. The rising prevalence of single-person households also intensifies the need for storage solutions. These demographic shifts cause a sharp rise in demand for self-storage units as individuals seek efficient ways to manage personal belongings in smaller dwellings.

E-commerce expansion is another pivotal growth factor for the self-storage market. Online retail growth intensifies storage needs for inventory, merchandise, and materials, especially for small businesses and retailers in urban regions with high real estate costs. The availability of short-term leasing options for storage units enables businesses to flexibly manage fluctuating storage demands. According to a forecast by the International Trade Administration, European retail e-commerce is expected to grow revenue by 9.3% through 2027, reaching $902.3 billion. The UK leads e-commerce penetration with 97.25%, followed by Germany at 70% and France at 62%, thus further stimulating self-storage demand.

The market is also driven by evolving consumer lifestyles, including downsizing, flexible living arrangements, and the gig economy, which increase the uptake of self-storage solutions. Temporary living arrangements, especially among younger populations relocating frequently for work or travel, benefit from the convenience of self-storage, eliminating the need to transport possessions repetitively. Additionally, rising sustainability awareness encourages consumers to declutter homes and reduce consumption by storing items safely offsite. These trends collectively expand the market by attracting a diverse user base, including both personal and business customers.

Market Segmentation

Analysis by Storage Unit Size:

• Small Storage Unit
• Medium Storage Unit
• Large Storage Unit

Medium storage units, typically 3 to 9 square meters, are the largest market segment in 2024 with around 45.7% share. They serve individuals needing to store contents of one- to two-bedroom apartments and small businesses requiring space for larger inventory or equipment. Demand is driven by temporary housing needs and flexible storage requirements during moves or renovations.

Analysis by End Use:

• Personal
• Business

Personal end use leads with about 55.3% market share in 2024. Many urban residents use self-storage for managing seasonal items and excess goods, driven by urban living trends like smaller homes, relocations, and temporary housing. The segment reflects societal mobility and convenience demands.

Analysis by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Regional Insights

The United Kingdom is the dominant region in the Europe self storage market, holding over 39.2% market share in 2024. This leadership is supported by a mature industry, significant urbanization, and high demand for flexible storage in densely populated areas. The UK market benefits from extensive infrastructure, diversified service offerings, and continuous investments expanding facilities.

Recent Developments & News

• April 2025: Shurgard opened its first self-storage facility in Stuttgart with 1,000 units, valued at EUR 17.1 million, and announced plans for further expansion in major German cities.
• February 2025: Heitman acquired a majority stake in Servistore, a Swedish operator with 31 sites across 14 cities, aiming to enhance technology-driven operations.
• December 2024: PGIM Real Estate and Pithos Capital formed a joint venture under the Zebrabox brand in France, acquiring six self-storage assets.
• April 2024: SpaceGenie opened its first facility in Hassloch, Germany, with plans to expand to six more locations.
• April 2024: Shurgard acquired Lok'nStore in the UK for GBP 378 million, doubling its UK presence.
• January 2024: Ardian acquired a majority stake in Costockage, France’s leading self-storage marketplace, to support expansion.

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Key Players

• Shurgard Self Storage SA
• Safestore Holdings PLC
• Self Storage Group ASA
• WP Carey Inc.
• SureStore Ltd
• Big Yellow Group PLC
• Access Self Storage
• Lok'nStore Limited
• Lagerboks
• 24Storage
• Casaforte
• Pelican Self Storage

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