Parking Lots and Garages NAICS 812930

Jan 20, 2026 - Slower Growth Forecast

• Sales for the US parking lots and garages industry are projected to grow at a CAGR of 3.88% between 2025 and 2029, slower than the overall economy‘s anticipated growth, according to an updated forecast from Inforum and the Interindustry Economic Research Fund, Inc. Parking lots and garage services are in the “other services” sector, driven by consumer spending and business expenditure. Consumer sentiment is expected to improve in the forecast period, which bodes well for the industry. Real disposable income is expected to rise 1.8% in 2025 and 1.6% in 2026, limited by a slow rise of employment and higher consumption prices.
• For the US parking lots and garages industry, relocatable parking structures are emerging as a strategic response to increasingly uncertain long-term demand, according to a report in Parking Today. As automation, transportation network companies, shifting travel patterns, and evolving land-use plans complicate traditional forecasting, modular and relocatable garages offer operators greater flexibility and risk management. The 1,500-space relocatable garage under construction at Reagan National Airport, scheduled to open in early 2026, illustrates how large-scale facilities can be designed for disassembly and reuse rather than permanent siting. Hybrid steel and modular construction can reduce structural weight by 50% or more, limit foundation investment, and enable component reuse, with builders estimating potential second-use cost savings of up to 50%. While trade-offs include reduced durability, aesthetics, and uncertain long-term economics, relocatable garages may be well-suited for airports, universities, healthcare systems, and municipalities seeking capacity flexibility amid shifting demand.

• December 2025 consumer confidence indicators suggest moderating demand conditions for the US parking lot and garage industry, reflecting weaker travel and more cautious consumer behavior. The Conference Board’s Consumer Confidence Index® declined 3.8 points to 89.1, marking a fifth consecutive monthly decrease, while the Present Situation Index fell sharply by 9.5 points, signaling growing concern about business conditions, employment, and household finances. The Expectations Index remained at 70.7, below the recession-warning threshold of 80 for an eleventh straight month. Together, these trends point to ongoing pressure on parking demand tied to air travel, events, and retail destinations. However, relatively steady spending on essential services and domestic travel should help support baseline utilization, particularly for operators serving commuter, healthcare, and mixed-use urban locations.
• According to a report in Parking Today, lithium ion battery risks from electric vehicles are creating new operational and safety challenges for parking lots and garages. As EV adoption rises, the potential for thermal runaway, a process that can trigger fires or explosion, poses heightened risks in enclosed or multi story facilities. Engineering studies highlight that ventilation design, congestion reduction, and pressure relief panels are critical to mitigating explosion hazards, while sprinkler density and structural fireproofing are key to controlling fires. The report notes that counterfeit batteries and charging activity increase the likelihood of incidents, making proactive monitoring and off gas detection systems important safeguards. For parking operators, the findings underscore the need to invest in both retrofits and new design standards to protect assets, ensure compliance with evolving codes, and maintain customer confidence.