In April 2014, Quraz, Japan’s largest owner and operator of indoor self-storage, released results of its annual survey on the size and growth of the Japanese self-storage market, including both indoor and outdoor facilities.
Results show annual market growth at 10% since 2008, as measured by potential revenue. Potential revenue increased from JPY 28.4 billion in 2008 to 46.3 billion in 2013 – a 60％ growth between 2008 to 2013.
Supply has also increased 60% since 2008, from 3,500 to 6,200 facilities and 175,000 to 285,000 units. Assuming this growth trend continues, the market would grow to JPY 70 billion by the 2020 Tokyo Olympics and 100 billion by 2027.
The largest three operators have consistently maintained 50% market share throughout this time (Quraz 23%, Reise Box 16%, Hello Storage 14%). Unit penetration is 0.3%, which means there is a storage unit available for every 370 households.
Self-storage in the US appeared in the 1970s. Since then, the US market has grown 10% annually and is currently 10% penetrated. Facilities increased from 7,000 in 1984 to 50,000 in 2009 – growing by 7 times in 25 years.
Source: Self-Storage Almanac 2012
Japanese penetration of 0.3% (units to households) is one of the lowest in developed countries; however as mentioned above the Japanese market has been steadily growing annually at about 10%. Product awareness is in part driving this growth - the Japanese self storage market has great potential which will be realized with further increase in product awareness.
- The size of the self-storage market in 2013 is JPY 46 billion – up 60% from 2008.
- The market has been steadily growing by 10% per year.
- The market has the potential to grow to JPY 100 billion by 2027.
- Top three operators have 50% market share.
- Indoor self-storage penetration in Japan is 0.3% (1 unit per 370 households) – the lowest in the developed countries.
- In the US one in 10 households use self-storage.
- The Japanese market is still undeveloped with great potential to increase product awareness.
Quraz Official Site
Self-storage market size (indoor & outdoor)
【Survey overview】Conducted in September 2013. / Nationwide / Includes both indoor and outdoor storage facilities.
About Quraz
Quraz is Japan’s largest self-storage owner and operator with 48 locations nationwide.
By owning and converting whole buildings into self-storage, Quraz provides high quality facilities dedicated to storage. All Quraz facilities are accessible 24 hours a day with temperature and humidity control, access security, parking and onsite staff. Advanced systems are used to manage storage environments including BEMs (Building Energy Management) to optimize indoor climate and centralized control of lighting and elevators to provide 24 hour secure access.
For 5 consecutive years, Quraz has been recognized as the #1 operator by Oricon customer satisfaction surveys.
In September 2013, Evergreen Real Estate Partners LLC (“Evergreen”), an US real estate investment firm, acquired Quraz.
Evergreen’s objectives include growing the network of Quraz locations and enhancing customer service.
| Company Name |
Quraz, Ltd., d/b/a Quraz |
| Founded |
2001 |
| Capital |
JPY450 million |
| President and Representative Director |
Stephen Spohn |
| Number of Employees |
185 full and part-time staff as of September, 2013 |
| Business |
Rental-storage owner and operator |
| Corporate Headquarters |
3F Estage osaki. 3-5-2 Osaki, Shinagawa-ku, Tokyo 141-0032 |