Parking Services in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: August 2023
ANZSIC S9533Revenue
$1.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
3,776
Businesses
422
Wages
$XXX.Xm
Parking Services in Australia industry analysis
The COVID-19 pandemic has hurt Parking Services industry particularly hard. Growth in the number of motor vehicles and rising airport patronage fuelled revenue growth in 2018-19. However, the COVID-19 pandemic in early 2020 significantly deteriorated parking demand, causing a sharp drop in revenue, staff reductions and bringing about new consumer parking preferences. Revenue is forecast to decline at an annualised 3.5% over the five years through 2023-24, to an estimated $1.9 billion. This trend includes a projected decline of 0.6% in 2023-24 due to significant revenue growth in 2022-23.The closure of Australia's borders to non-residents in March 2020 and internal border restrictions drastically slashed demand for airport parking services. Growth in the number of Australians working from home muted demand for parking services in the CBDs of capital cities. The end of lengthy lockdowns and easing travel restrictions have slowly rebounded demand for parking services. There has been swift growth in the demand for contactless parking payments. Consumers have increasingly preferred using cards and other contactless payment solutions in addition to e-wallet options to reduce touchpoints and engagement with personnel.Revenue is on track to recover, driven by the Australian economy's estimated recovery from the recession caused by COVID-19. Rising air passenger movements through capital city airports and the number of vehicles in Australia are set to contribute to solid growth in demand for parking services. High prices for parking services are going to limit the number of commuters using car parking spaces in CBDs. Continued competition from public transport, taxis and alternative transport services like Uber are set to restrict revenue growth. Increasing road congestion in key business districts is set to slightly constrain demand. Several major transport infrastructure projects are on track to reach completion, boosting commuter numbers and consequently demand for parking. Overall, revenue is forecast to rise at an annualised 1.8% over the five years through 2028-29, to an estimated $2.1 billion.
Trends and Insights
- The COVID-19 pandemic has resulted in a significant deterioration in industry sales. The closure of Australia's international borders and domestic travel restrictions sharply reduced demand for airport parking services over the two years through 2020-21.
- The COVID-19 pandemic temporarily reduced demand for weekday off-peak parking services. Pandemic restrictions led to reduced consumer outings and remote work arrangements.
- Many larger parking services providers are concentrated in CBD locations. According to recent trends, an increasing number of car parking services are becoming available on the periphery of CBDs.
- A crucial factor in the successful operation of a parking station is its location. High-traffic areas might charge more costs for parking, resulting in increased profitability.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 3.5 % over the past five years, to reach an estimated $1.9bn in 2023.
Trends and Insights
The COVID-19 pandemic slashed demand for parking services as parking occupancies tumbled
- The COVID-19 outbreak in early 2020 resulted in a significant demand deterioration for parking services.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The growth in the national labour force will likely spur demand for parking services
- More consumers are likely to use parking services as the total number of employees in the national labour force increases, and the number of motor vehicles on the road grows.
Biggest companies in the Parking Services in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Secure Parking | 317.5 | |
Wilson Group | 265.6 | |
Sydney Airport | 145.7 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Periodic car parking services, Daily car parking services and Short-stay car parking services. Periodic car parking services is the largest segment of the Parking Services in Australia.
Trends and Insights
The COVID-19 pandemic threatened demand for periodic car parking services
- A significant proportion of revenue comes from car spaces leased out to customers using long-term contracts. For example, an operator managing the car park in an office building may lease car spaces to the tenants of the office building.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Fuel Retailing in Australia
- Motor Vehicle Engine and Parts Repair and Maintenance in Australia
- Toll Road Operators in Australia
- Office Property Operators in Australia
International industries
- Parking Lots & Garages in the US
- Parking Lots & Garages in Canada
Table of Contents
About this industry
Industry definition
Industry firms provide parking space for motor vehicles, generally on an hourly, daily or monthly basis. These operations include parking garages, parking stations and valet parking. Council operated car parks are excluded from the industry.
What's included in this industry?
Periodic car parking servicesDaily car parking servicesShort-stay car parking servicesWeekday off-peak car parking servicesAirport car parking servicesValet parking servicesCompanies
Secure ParkingWilson GroupSydney AirportPurchase this report to view all 6 major companies in this industry.
Related Terms
LONG-STAY PARKINGSHORT-STAY PARKINGINNER URBANSTACK PARKINGIndustry Code
ANZSIC 9533 - Parking Services in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The COVID-19 pandemic has resulted in a significant deterioration in industry sales. The closure of Australia's international borders and domestic travel restrictions sharply...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The COVID-19 pandemic temporarily reduced demand for weekday off-peak parking services. Pandemic restrictions led to reduced consumer outings and remote work arrangements.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Many larger parking services providers are concentrated in CBD locations. According to recent trends, an increasing number of car parking services are becoming available on t...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
A crucial factor in the successful operation of a parking station is its location. High-traffic areas might charge more costs for parking, resulting in increased profitabilit...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The severe downturn in air traffic during the COVID-19 pandemic has had flow-on effects on parking operations at major airports. Some large players converted their outdoor ca...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Secure Parking's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Wilson Group's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Sydney Airport's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Secure Parking, and factors influencing its performance in the industry
- Description and key data for Wilson Group, and factors influencing its performance in the industry
- Description and key data for Sydney Airport, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Taxi and limousine services are alternatives to driving and parking one's car. The increased demand for taxi and limousine services has a detrimental effect on parking servic...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Capital investment in automatic ticketing systems has reduced parking services operators’ reliance on manual labour. Employment has decreased as a result of investment in new...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Parking Services industry in Australia in 2024?
The market size of the Parking Services industry in Australia is $1.9bn in 2024.
How many businesses are there in the Parking Services in Australia industry in 2023?
There are 422 businesses in the Parking Services industry in Australia, which has grown at a CAGR of 2.2 % between 2018 and 2023.
Has the Parking Services industry in Australia grown or declined over the past 5 years?
The market size of the Parking Services industry in Australia has been declining at a CAGR of 3.5 % between 2018 and 2023.
What is the forecast growth of the Parking Services industry in Australia over the next 5 years?
Over the next five years, the Parking Services industry in Australia is expected to grow.
What are the biggest companies in the Parking Services market in Australia?
The biggest companies operating in the Parking Services market in Australia are Secure Parking, Wilson Group and Sydney Airport
What does the Parking Services in Australia include?
Periodic car parking services and Daily car parking services are part of the Parking Services industry.
Which companies have the highest market share in the Parking Services in Australia?
The company holding the most market share in Australia is Secure Parking.
How competitive is the Parking Services industry in Australia?
The level of competition is moderate and increasing in the Parking Services industry in Australia.
