By 2028, the global self-storage market is forecast to be worth ***** billion U.S. dollars, up from ***** billion U.S. dollars in 2023. In 2018, the U.S. dominated the market accounting for ** percent of self-storage inventory worldwide.

United States Self Storage Companies is Segmented by User Type (Personal and Business), Unit Size (≤ 100 Sq Ft (Small), 101–200 Sq Ft (Medium), and More), Property Type (Purpose-Built Facilities, Converted Commercial Buildings, and More), Booking Channel (Offline, Online Aggregators & Operator Portals), End-Use Duration (Short-Term, Long-Term), and by Region. The Market Forecasts are Provided in Terms of Value (USD).

The Self Storage Market Segments Into User Type (Personal, Business), by Storage Type (Climate-Controlled, Non-Climate-Controlled, Portable / Container-Based, and More), by Lease Duration (Short-Term (<3 Months), Mid-Term (3-12 Months) and More), Unit Size (Small (<50 Sq Ft), Medium (50-100 Sq Ft)) and Geography. The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The North Carolina Self-Storage Market is segmented by User Type (Personal and Business) and Geography (Charlotte, Raleigh, Greensboro, Durham, Winston-Salem, and the Rest of North Carolina). The market sizes and forecasts are provided in terms of value (USD million) for all the segments.

Self Storage Market Outlook

The global self storage market size was valued at approximately USD 58.2 billion in 2023 and is anticipated to reach around USD 102.6 billion by 2032, growing at a CAGR of 6.2% during the forecast period. The market's growth can be attributed to various factors, such as the increasing urbanization, rising number of small businesses, and the need for additional storage space by consumers and enterprises alike.

One of the primary growth factors driving the self storage market is urbanization. As more people move into urban areas, the demand for living space increases, often leading to smaller living quarters. Consequently, individuals and families need additional storage solutions for their belongings, driving the demand for self storage units. The rise in urban living spaces has consistently contributed to the expansion of this market over the years.

Another significant factor is the proliferation of small businesses and startups. These enterprises often require storage solutions for inventory, equipment, and documents, especially in the early stages of their operations. Self storage facilities offer flexible and cost-effective solutions for small businesses, enabling them to optimize their workspace without committing to long-term leases or expensive warehousing solutions. This trend has significantly bolstered the market's growth.

The increasing awareness and adoption of self storage solutions among the general population is also a key growth driver. With effective marketing strategies and technological advancements, self storage companies have successfully educated consumers about the benefits of using their services. Innovations such as online booking, digital access control, and enhanced security features have made self storage units more accessible and appealing to a broader audience.

In the context of the growing demand for storage solutions, Business Storage Solution has emerged as a critical component for enterprises looking to optimize their operations. These solutions offer businesses the flexibility to store inventory, equipment, and documents without the need for long-term commitments or significant capital investment. As companies expand, particularly small and medium-sized enterprises, the ability to scale storage needs efficiently becomes paramount. Business Storage Solution provides a versatile and cost-effective alternative to traditional warehousing, allowing businesses to focus on growth and innovation while ensuring their assets are securely stored.

Regionally, North America remains the dominant market for self storage solutions, driven by a well-established industry infrastructure and high consumer awareness. However, the Asia Pacific region is poised for substantial growth, primarily due to rapid urbanization, rising disposable incomes, and increasing adoption of self storage solutions across emerging economies. The market's regional dynamics are influenced by a variety of factors, including economic conditions, urbanization rates, and cultural attitudes towards storage solutions.

Type Analysis

When analyzing the self storage market by type, two primary categories emerge: climate-controlled and non-climate-controlled units. Climate-controlled units are designed to maintain a stable environment, which is crucial for storing sensitive items that could be damaged by extreme temperatures or humidity. These units are particularly popular among consumers who need to store items such as electronics, antiques, documents, and certain types of furniture. The demand for climate-controlled storage units has been on the rise, driven by increasing consumer awareness of their benefits and the need for specialized storage solutions.

Non-climate-controlled units, on the other hand, are typically used for storing items that are not sensitive to temperature or humidity fluctuations. These units are more affordable and are preferred by consumers who need to store items such as tools, vehicles, and general household goods. Despite being less expensive, non-climate-controlled units represent a significant portion of the market, catering to a broad range of storage needs across various demographics.

The choice between climate-controlled and non-climate-controlled units often depends on the specific storage requirements and budget constraints of the consumer. While climate-controlled units offer added protection and pe

According to Cognitive Market Research, the global Self Storage Service market size was USD 57815.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 23126.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 17344.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 13297.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2890.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 1156.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
The Small category is the fastest growing segment of the Self Storage Service industry

Market Dynamics of Self Storage Service Market

Key Drivers for Self Storage Service Market

Urbanization and Population Growth to Boost Market Growth

Urbanization and population growth are key drivers of the self-storage service market due to the increasing demand for living and working space in densely populated urban areas. As cities grow, living spaces become smaller and more expensive, leading residents to seek alternative storage solutions for personal belongings. Urban professionals, students, and families with limited home storage find self-storage units convenient for seasonal items, furniture, and extra household goods. Moreover, businesses in growing cities need flexible, cost-effective storage options for inventory, equipment, and documents. The rise of startups, small businesses, and e-commerce companies in urban areas further boosts demand. As urbanization continues, the need for efficient, accessible storage solutions is expected to grow, driving the expansion of the self-storage market. For instance, Singapore's GIC, a prominent real estate investor, has teamed up with Australia's National Storage REIT to establish the National Storage Ventures Fund. This initiative is focused on constructing self-storage facilities throughout Australia. The collaboration plans to allocate AUD 270 million (approximately USD 179.5 million) over the upcoming 12 to 18 months to finalize ten projects within NSR's initial development portfolio.

Growing E-commerce and Retail to Drive Market Growth

The growth of e-commerce and retail significantly drives the self-storage service market as businesses increasingly require flexible storage solutions to manage inventory and operational efficiency. E-commerce companies, in particular, benefit from self-storage units for storing seasonal merchandise, surplus stock, and packaging materials without committing to long-term leases for larger warehouses. This flexibility allows businesses to scale operations based on demand without incurring high overhead costs. Additionally, as brick-and-mortar retailers adapt to changing consumer behaviors, they often utilize self-storage to optimize in-store inventory, manage excess stock, and accommodate shifts in product offerings. The increasing reliance on online sales and the need for efficient supply chain management underscore the growing importance of self-storage services, making them essential for businesses seeking agility and cost-effectiveness in a competitive retail landscape.

Restraint Factor for the Self Storage Service Market

High Operational Costs will Limit Market Growth

High operational costs significantly restrain the self-storage service market by impacting profitability and limiting expansion opportunities for operators. Setting up self-storage facilities requires substantial initial investment in land, construction, and necessary security measures, including surveillance systems and climate control features. Ongoing expenses such as maintenance, utilities, insurance, and property taxes can further strain budgets, especially for smaller operators or new entrants in the market. These high costs can lead to increased rental prices for consumers, po...

The Germany Self-Storage Market Report is Segmented by End-User (Personal and Business), Storage Size (Small and Medium Units Less Than 40 Sq Ft, Large Units Above 40 Sq Ft, and More), Storage Type (Climate-Controlled and Non-Climate-Controlled), Ownership Pattern (Owned and Leased). The Market Forecasts are Provided in Terms of Volume (Units).

Thanks to a bustling online retail scene, the Storage and Warehouse Leasing industry thrives. With e-commerce businesses maintaining a wide array of inventory, demand for storage and warehousing has shot up. Another key trend has been the necessity for these facilities to be located near city centers to ensure quicker deliveries. Urbanization and downsizing have led to more people living in cramped spaces, boosting demand for self-storage solutions. Technological advancements like automated retrieval systems and intelligent inventory management software have also been game-changing, making the industry more efficient and competitive. Through the end of 2024, industry revenue has climbed at a CAGR of 5.7% to reach $35.8 billion in 2024, including a climb of 2.3% in 2024 alone. The gain in online shopping and faster delivery expectations has increased demand for urban warehouse solutions. Growing urbanization has pushed people into smaller living spaces, increasing reliance on personal storage solutions like self-storage units. Technological integrations have streamlined operations and societal changes, boosting the industry's profit. However, higher interest rates pose a challenge, making investments more expensive and potentially affecting expansion and property values. Through the end of 2029, demand for urban warehousing solutions will continue to expand, driven mainly by the shift toward online shopping. Also, a growing pharmaceutical market will command a need for specialized warehousing solutions. A trend for smaller storage spaces is also on the horizon, driven by high real estate costs and the needs of SMEs and cramped city dwellers. The push towards sustainability will also be a significant influence as warehouses look to integrate green practices to stand out in the market. This green transition might be initially costly, but in the long term, this shift will provide cost savings and a boosted public image, lifting the industry's overall prospects. Through the end of 2029, industry revenue will expand at a CAGR of 2.9% to reach $41.4 billion.

The self-storage services market is experiencing robust growth, driven by several key factors. Urbanization and population density are leading to space constraints, particularly in major metropolitan areas. This fuels demand for secure, convenient, and flexible storage solutions for both residential and commercial purposes. Furthermore, the rise of e-commerce and the increasing adoption of remote work models are contributing to the market's expansion. E-commerce businesses require efficient warehousing and distribution solutions, while remote workers often need additional space for home offices and storage of personal belongings. The self-storage sector is adapting to these trends by offering a wider range of services, including climate-controlled units, online booking platforms, and value-added services like packing supplies and moving assistance. While economic downturns can temporarily restrain growth, the long-term outlook remains positive, supported by persistent underlying demographic and economic drivers. Competition is fierce, with both established players and new entrants vying for market share through innovative service offerings and strategic expansion. The sector is also increasingly focusing on sustainability initiatives to meet growing environmental concerns. Considering a CAGR (let's assume a reasonable CAGR of 8% based on industry trends) and a 2025 market size (let's assume $50 billion USD for illustrative purposes, this can be adjusted based on actual data if provided), the market is projected to expand significantly through 2033. Companies like DHL Supply Chain, FedEx Supply Chain, and Public Storage are key players, leveraging their existing infrastructure and expertise to capture a larger share of this growing market. However, smaller, more specialized providers are also thriving by catering to niche segments and offering customized storage solutions. Geographic variations exist, with developed economies showing strong growth, but emerging markets exhibiting even more potential for expansion as their economies develop and urbanization progresses. This dynamic landscape requires continuous innovation and adaptation to effectively capitalize on evolving market trends.

Global Self-Storage Market was valued at USD 60.2 billion in 2024 and is expected to reach USD 103.56 billion by 2030 with a CAGR of 9.3% during the forecast period.

The North Carolina self-storage market, valued at approximately $XX million in 2025, exhibits robust growth potential, projected to expand at a compound annual growth rate (CAGR) of 4.97% from 2025 to 2033. This growth is fueled by several key drivers. The increasing urbanization of major North Carolina cities like Charlotte, Raleigh, Durham, and Greensboro, coupled with a rising population and limited housing space, creates a significant demand for self-storage solutions. Furthermore, the burgeoning e-commerce sector contributes to the need for storage space for businesses managing inventory and online retail operations. The growth of the state's economy and associated job creation also contribute positively to market expansion, as individuals and businesses require flexible storage options during relocation or expansion phases. While potential restraints include economic downturns that may reduce consumer spending on non-essential services and increased competition within the self-storage industry, the overall market outlook remains optimistic due to the aforementioned strong drivers. The segmentation within the market, catering to both personal and business users across diverse geographical locations, indicates a well-diversified market with opportunities for various market players. The geographic distribution of the market reveals varied growth potential across the state. Major metropolitan areas like Charlotte and Raleigh are expected to witness higher growth rates due to their denser populations and robust economic activity. Secondary cities like Greensboro, Durham, and Winston-Salem will also contribute significantly, albeit at potentially slightly lower growth rates compared to the larger metropolitan areas. The “Rest of North Carolina” segment may experience a more moderate growth trajectory due to its less concentrated population and economic activity. The competitive landscape includes both national players like Life Storage Inc. and Cubesmart LP, as well as regional and local operators like A-1 Personal Storage and NC Self Storage. This competition is expected to drive innovation and offer a diverse range of storage solutions to cater to the evolving needs of the North Carolina market. This comprehensive report provides an in-depth analysis of the North Carolina self-storage market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this report offers valuable insights into market trends, growth drivers, challenges, and future projections. It's the perfect resource for investors, operators, and anyone seeking to understand this dynamic sector. Search terms like "North Carolina self storage market size," "North Carolina self storage industry trends," and "Charlotte self storage market analysis" are incorporated to maximize search engine optimization. Recent developments include: March 2023 - A brand-new self-storage facility that MV is building in Fayetteville, North Carolina, is also almost finished. The building at 5234 Raeford Road, which was constructed on 9 acres, has 808 units and 105,000 gross square feet of space. The opening date was set for April 1. A development, building, and property management company with a focus on multifamily and self-storage buildings is MV. More than 1.5 million square feet of self-storage have been built by it thus far., August 2022 - CBRE, commercial real estate services and investment firm, announced the USD 23.6 million sales of two extra space storage facilities outside Charlotte, North Carolina. Lakeland Village acquired the portfolio from a private investor. Furthermore, the portfolio of 136,994 square feet includes extra space storage locations in Mooresville and Salisbury, North Carolina, the 66,000 square foot Salisbury facility, which can be found at 725 Jake Alexander Blvd. S. has 680 self-storage units that range in size from 5x5 feet to 10x30 feet.. Key drivers for this market are: Increased Urbanization, Coupled with Smaller Living Spaces, Improved Economic Outlook and Innovative Trends. Potential restraints include: Government Regulations on Storage. Notable trends are: Personal Segment to Hold Major Market Share.

Introduction

The global self-storage service market is set for significant growth, with its size expected to reach USD 95.2 billion by 2033, up from USD 57.12 billion in 2023, reflecting a CAGR of 5.25% during the forecast period from 2024 to 2033.

Self-storage services are becoming increasingly popular due to factors like urbanization, increasing consumerism, and the growing need for flexible storage solutions for both individuals and businesses. As people and companies seek convenient, secure, and scalable storage options, the demand for self-storage services is surging, making it a rapidly expanding industry with significant opportunities.

India self storage market size reached USD 2.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3.6 Billion by 2033, exhibiting a growth rate (CAGR) of 5.1% during ​2025-2033​. The trend of urbanization and population growth in India, which leads to increased demand for storage space as people move into smaller living spaces or temporary accommodations, is driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on storage unit size and end use.

Global Self Storage market size is expected to reach $91.61 billion by 2029 at 7.6%, segmented as by climate-controlled units, temperature-controlled units, humidity-controlled units, combined temperature and humidity-controlled units

Self-Storage Market size was valued at USD 56.81 Billion in 2024 and is projected to reach USD 89.87 Billion by 2031, growing at a CAGR of 6% from 2024 to 2031.

Self-Storage Market Drivers

Urbanization and Space Constraints: As urban areas become more densely populated, living spaces shrink, creating a need for off-site storage solutions. Residential Mobility: People moving homes, downsizing, or undergoing life transitions (like divorce or inheritance) often require temporary storage for their belongings. Business Needs: Businesses use self-storage for various purposes, such as storing excess inventory, documents, equipment, and seasonal items. Economic Growth: A growing economy can lead to increased consumer spending and business activity, both of which can drive demand for self-storage.

Household Self Storage Market Outlook

The global household self storage market size was estimated at USD 53.6 billion in 2023 and is projected to reach USD 109.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2032. The growth in this market is largely driven by urbanization, increasing consumer awareness about self-storage solutions, and the rising need for additional storage space among households.

One of the primary growth factors for the household self storage market is the accelerated pace of urbanization. As more people move to urban areas, the living spaces often become smaller, creating a burgeoning need for additional storage solutions. The convenience and flexibility offered by household self storage units allow urban dwellers to store their belongings safely without needing to move to larger residences. This trend is particularly prominent in North America and Europe, where urban living is highly concentrated.

Another significant growth factor is the increasing consumer awareness and acceptance of self-storage solutions. Marketing efforts, along with the proliferation of self-storage facilities, have played a crucial role in educating consumers about the benefits of these services. Improved security features, such as surveillance cameras, biometric access controls, and climate-controlled environments, have made self-storage units more attractive to consumers who wish to store valuable items. This growing trust in self-storage facilities has been pivotal in expanding the market.

Technological advancements also play a critical role in driving the market's growth. The integration of digital solutions, such as online booking systems, mobile apps for unit management, and automated access controls, has enhanced the customer experience. These technologies not only make it easier for consumers to rent and manage storage units but also provide them with real-time updates and enhanced security. As technology continues to evolve, it is expected to offer even more innovative self-storage solutions, thereby further boosting market growth.

The regional outlook for the household self storage market indicates significant growth potential across various geographies. North America currently holds the largest market share, driven by high urbanization rates and consumer awareness. Europe follows closely, with growing demand in countries like the UK and Germany. The Asia Pacific region is expected to see the fastest growth, fueled by rapid urbanization in countries like China and India. Latin America and the Middle East & Africa are also witnessing increasing demand, albeit at a slower pace compared to other regions.

Type Analysis

In the household self storage market, the type segment is divided into climate-controlled and non-climate-controlled units. Climate-controlled units are growing in popularity due to their ability to maintain consistent temperature and humidity levels. These units are particularly beneficial for storing sensitive items such as electronics, artwork, and important documents. Consumers are increasingly opting for climate-controlled units despite their higher cost, as they offer enhanced protection for valuable or perishable items.

Non-climate-controlled units, on the other hand, remain a cost-effective solution for storing items that are not sensitive to temperature or humidity fluctuations. These units are widely used for general household items like furniture, seasonal decorations, and sports equipment. The affordability of non-climate-controlled units makes them an attractive choice for consumers on a budget. However, as consumer preferences shift towards more secure and protective storage solutions, the demand for climate-controlled units is expected to rise.

Climate-controlled units often require more advanced infrastructure and higher operational costs, which can impact their overall market growth. However, advancements in energy-efficient climate control systems are helping to mitigate these costs, making these units more accessible to a broader range of consumers. As technology continues to evolve, it is expected that climate-controlled units will become more affordable and thus, more popular.

The market for non-climate-controlled units is relatively mature, with a steady demand from consumers who require simple and straightforward storage solutions. These units are particularly popular in regions with moderate climates where extreme temperature and humidity levels are not a concern. The continued demand for cost-e

The mini storage service market is experiencing robust growth, driven by several key factors. Urbanization and population density are leading to increased demand for flexible and convenient storage solutions, particularly in densely populated areas where personal space is at a premium. The rise of e-commerce has also fueled growth, with businesses needing space for inventory management and fulfillment. Furthermore, lifestyle changes, such as downsizing and increased mobility, contribute to the need for temporary or long-term storage options. The market is segmented by storage type (climate-controlled, non-climate-controlled), size (small, medium, large), and customer type (residential, commercial). Competition is fierce, with established players like Public Storage and Extra Space Storage vying for market share alongside smaller, regional operators and new entrants leveraging technology for improved customer experience and operational efficiency. The market's future growth will likely be influenced by technological advancements, such as smart storage solutions and online booking platforms, as well as economic conditions and real estate availability. A projected Compound Annual Growth Rate (CAGR) of, for example, 5% over the next decade suggests a significant expansion of the market. This growth will likely be uneven across regions, with faster growth in developing economies where infrastructure development is lagging behind population growth. The competitive landscape is characterized by a mix of large, publicly traded companies and smaller, privately held businesses. This diversity leads to a range of service offerings, pricing strategies, and technological implementations. Large players often benefit from economies of scale, enabling them to offer competitive pricing and extensive geographic reach. However, smaller businesses can thrive by focusing on niche markets or offering personalized services. The increasing adoption of technology is transforming the industry, with online booking, automated payment systems, and mobile access becoming increasingly common. This trend is likely to continue, with further innovation driving efficiency and customer satisfaction. Challenges include maintaining optimal occupancy rates, managing operating costs, and adapting to fluctuating real estate prices. Effective marketing strategies, robust customer relationship management, and operational efficiency will be critical for success in this dynamic market.

The personal and household self-storage market is experiencing robust growth, driven by several key factors. Increasing urbanization and population density lead to smaller living spaces, creating a greater need for off-site storage solutions. The rise of e-commerce also contributes significantly, with consumers requiring space for online purchases and returned items. Furthermore, lifestyle changes, such as frequent relocation, downsizing, and the increasing popularity of remote work, further fuel demand for flexible and accessible storage options. The market is segmented by various storage unit sizes, climate-controlled options, and location, catering to diverse customer needs and budgets. Competition is fierce, with established players like Public Storage and Extra Space Storage competing with smaller, regional operators. Technological advancements, including online booking platforms and enhanced security features, are transforming customer experience and driving market expansion. While economic downturns can temporarily impact demand, the long-term outlook remains positive, given the enduring need for storage solutions in modern lifestyles. Profitability within the sector is influenced by factors such as occupancy rates, operational efficiency, and pricing strategies. Successful operators strategically manage their portfolios, focusing on prime locations and adapting to evolving customer preferences. Expansion into new markets and the development of innovative storage solutions, such as specialized units for specific items (e.g., documents, wine), represent key growth opportunities. Regulatory changes, particularly concerning environmental sustainability and accessibility, will play a significant role in shaping the market landscape. The market's future growth hinges on the continued ability of operators to meet the increasing demand for secure, convenient, and affordable storage solutions while adapting to technological and economic shifts. We project continued steady growth, fueled by the long-term trends driving the demand for personal and household self-storage.

The Switzerland self storage market size is projected to grow at a CAGR of 4.20% between 2025 and 2034. The major drivers of the market include the rapid expansion of the e-commerce sector, increased demand for self storage services by start-ups and small businesses, and rising urban movements.

The United States self-storage market, valued at $44.33 billion in 2025, is poised for steady growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 2.44% from 2025 to 2033. This growth is fueled by several key factors. Increasing urbanization and population density lead to a higher demand for space, particularly in densely populated areas where residential space is limited. The rise of e-commerce and the growth of online businesses also contribute significantly, as businesses require storage solutions for inventory and distribution. Furthermore, lifestyle changes, such as downsizing or increased mobility, contribute to the growing need for convenient and secure storage options for personal belongings. The market is segmented by user type, with both personal and business users driving demand. Major players like Public Storage, Extra Space Storage, and CubeSmart dominate the market, leveraging their established infrastructure and brand recognition. However, the market also features smaller, regional operators, indicating a healthy level of competition. The forecast period (2025-2033) will likely see continued expansion, driven by ongoing trends such as the increasing preference for flexible lease terms and technologically advanced storage facilities offering features like climate control and enhanced security. While potential economic downturns could temporarily restrain growth, the fundamental need for self-storage is expected to remain resilient. The market’s future success hinges on the ability of operators to innovate and adapt to evolving consumer preferences, offering flexible solutions and incorporating technological advancements to improve customer experience and operational efficiency. Competition will remain fierce, with existing players focusing on expansion and technological upgrades while smaller players seek to differentiate themselves through niche services or strategic partnerships. Recent developments include: September 2023: Extra Space Storage Inc. introduced a tenant insurance offering, the Savvy Storage Insurance Program (Savvy), to serve the self-storage industry. The program is expected to help property owners increase ancillary revenues and improve customer experience., September 2023: Public Storage announced that the company had completed the acquisition of Simply Self Storage from Blackstone Real Estate Income Trust Inc. for USD 2.2 billion. The acquisition reflects Public Storage’s continued execution of its opportunistic growth strategy.. Key drivers for this market are: Increased Urbanization and Smaller Living Spaces, Improved Economic Outlook and Innovative Trends. Potential restraints include: Increased Urbanization and Smaller Living Spaces, Improved Economic Outlook and Innovative Trends. Notable trends are: Increased Urbanization and Smaller Living Spaces to Drive the Market.