North America Commercial Facility Parking Lot Maintenance Market Size, Share & Trends Analysis Report By Application (Workspaces/Office Buildings), By Execution (Outsourced), By Country, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The North America commercial facility parking lot maintenance market size was estimated at USD 16.08 billion in 2023 and is anticipated to grow at a CAGR of 3.4% from 2024 to 2030. The growing expansion of the commercial spaces such as office building, workspaces, restaurant, retail stores, hospitality, and so on are likely to drive the growth for the parking spaces. Importance of the proper management and maintenance of parking lots in retail, shopping centers, and others is rising for the easy identifiable by re-stripping lot markings, and trimming the shrubs. Owing to these factors, the parking lot maintenance market is expected to grow significantly over the forecast period.

A well-maintained parking lot enhances the safety of pedestrians and drivers alike. Cracks, potholes, and uneven surfaces can be a tripping hazard for pedestrians, while poor drainage can lead to slippery conditions and an increased risk of accidents for vehicles. Regular maintenance helps mitigate these risks by repairing damage, maintaining proper drainage, and ensuring clear markings and signage.

According to the National League of Cities in 2023, the U.S. displayed between 800 million and 2 billion parking spaces, with over 5% of urban land occupied by surface parking lots. Furthermore, estimates from the International Parking Institute indicate that there are approximately 2 parking spaces available for every registered vehicle in the U.S. As of 2021, over 276 million listed vehicles equaled to a staggering 552 million parking spaces in commercial lots alone.

In November 2023, new rule was introduced by the Departments of Buildings of New York, which made amendments in the inspection requirements parking garages across New York. As per the new rule, regardless of the scheduled inspection of parking garages of the buildings between 2024 and 2027, all will have to undergo an initial inspection before August 1, 2024. Various aspects of parking spaces such as structural components, wearing surfaces, fireproofing systems, waterproofing systems, etc. will be inspected.

An increase in the number of parking lots means more infrastructure that requires upkeep to remain safe, functional, and visually appealing. As these parking facilities age, they are prone to wear and tear, including cracks, potholes, and surface degradation, requiring regular parking lot maintenance. This trend would fuel the adoption of various parking lot maintenance services over the forecast period.

Market Concentration & Characteristics

The industry growth stage is medium, and the pace is accelerating. The industry players are adopting organic and inorganic growth strategies, such as expansions, service launches, and partnerships/collaborations, and mergers & acquisitions, to strengthen their position in the U.S. market. For instance, in February 2022, BrightView Holdings, Inc. acquired Winter Services Inc., based in Wisconsin. The company provides parking lot maintenance services such as parking lot stripping, and painting services.

The regulatory framework for the commercial facility parking lot maintenance market encompasses a variety of laws, regulations, standards, and guidelines aimed at ensuring the safety, efficiency, and sustainability of commercial facilities. For instance, strict regulations regarding parking lot maintenance are driving growth in the commercial facility maintenance market. Moreover, guidelines such as the Canadian Standards Association (CSA) technical bulletin no. 2: the parking facility maintenance manual and CSA S413 standards outline essential maintenance programs necessary to safeguard investment costs for asset repair or rehabilitation.

The technological landscape for North America commercial facility parking lot maintenance market is rapidly evolving. The tailored maintenance plan outlines a maintenance schedule, be it monthly, quarterly, annually, or otherwise, for conducting reviews and addressing specific maintenance tasks. These maintenance plans should cover the following areas: structure, moisture protection systems, security equipment, surface finishes, electrical systems, mechanical systems, plumbing systems, elevators, fire protection systems, parking control, line painting, cleaning, and snow removal.

Parking lot maintenance entails a range of treatments and repairs aimed at prolonging the lifespan of pavements. Asphalt is the primary material used for the majority of parking lots across the U.S., but it is vulnerable to weathering, which can lead to deterioration and structural damage, necessitating regular maintenance. The end user concentration for the commercial facility parking lot maintenance market high, which includes supermarkets & retail stores, restaurant, hospitals, public buildings, office buildings, hospitality, banks, convenience stores, and shopping centers.

Application Insights

Workspaces/office buildings application segment dominated the market and accounted for 23.1% of the North America commercial facility parking lot maintenance market in 2023. According the U.S. Census Bureau, in February 2024 the total value of non-residential office construction increased by 5.3% compared to December 2022. The rising investment in office construction is subsequently increased the construction spending on the parking lots for workers and employees over the forecast period. Thus, the commercial construction is expected to drive the demand for North America commercial facility parking lot maintenance market over the forecast period.

The hospital segment is anticipated to grow at a highest CAGR over the forecast period, owing to the increasing investment in the healthcare facility and infrastructure development. The parking areas are used by different groups of people while visiting the hospitals. As the vehicles are continuously moving in and out of the parking lots, the requirement for parking lot maintenance is high in hospitals. This parking lot maintenance refers to activities undertaken to increase the lifespan of parking pavement.

Execution Insights

The self-perform execution segment dominated the North America commercial facility parking lot maintenance market in 2023. Commercial facility parking lot maintenance companies perform the maintenance tasks by themselves, which includes cleaning, sweeping, re-stripping, tree/shrub trimming, structure integrity, awnings repairing, electrical inspection and maintenance, and so on. Further, with the expansion of the electric vehicles, parking lots have been significantly developed to include charging units. Many parking lot maintenance providers are including teams that can handle repairing and maintenance of electric connections and inspections.

Companies that provide commercial facility parking lot maintenance use outsourced execution to expand their share in unexplored markets. These services includes maintenance activities, where the company responsible for maintaining the commercial facility assigns maintenance work to independent third-party external service providers with defined service contracts.

Country Insights

U.S. Commercial Facility Parking Lot Maintenance Market Trends

U.S. dominated the North America commercial facility parking lot maintenance market and accounted for 75.5% in 2023. According to the Lodging Magazine Q3 2023 report, over 1,063 hotels are in the construction phase in the U.S., totaling 140,331 rooms. This number has increased by 4% in terms of rooms and by 8% in terms of projects compared to 2022. The lodging sector is expected to grow at a healthy rate owing to the significant changes in lending rates and increasing investment in new hotel constructions or renovations. The new construction of hotels also expected to increase the area of total parking lot and demand more maintenance services. These aforementioned factors are anticipated to propel the market demand in the coming years.

Canada Commercial Facility Parking Lot Maintenance Market Trends

The Canada commercial facility parking lot maintenance market is expected to grow during the forecast period. New construction of commercial places across Canada is anticipated to boost the growth of the maintenance services of the parking lots. In November 2023, Kelowna International Airport Terminal expansion started and is expected to be completed by 2026. The new expansion project is expected to meet the growing passenger traffic. The new expansion will also involve new airport infrastructure such as safety and sustainability upgrades and new parking options. Such new commercial projects anticipated to drive the demand in the country.

Key North America Commercial Facility Parking Lot Maintenance Company Insights

Some of the key players operating in the market include MCS, ABM INDUSTRIES INCORPORATED, BrightView Holdings, Inc., and Lessen.

• Lessen offers real estate property services nationwide to optimize property services and deliver data-driven insights that unlock value. It caters to commercial and residential real estate properties. The company also fully manages repairs & maintenance, renovations, scheduled services, and turns services. It has served over 100 metropolitan statistical areas, consisting of over 280,000 properties. With over 30,000 qualified vendor affiliates, the company has completed over 3 million work orders annually.

• ABM INDUSTRIES INCORPORATED is a provider of integrated facility services. It focuses on delivering essential services and innovative solutions to enhance commercial spaces. The company offers comprehensive janitorial, engineering, parking, electrical and lighting services, energy, and electric vehicle charging infrastructures, HVAC and mechanical, landscaping, and turfing services, and mission-critical solutions.

Trillium Facility Solutions, Grounds Control USA, and All American Facility Maintenance are some of the emerging market participants in the North America commercial facility parking lot maintenance market.

• All American Facility Maintenance serves property managers and landlords for both emergency and routine repairs, as well as construction projects. It has over two decades of experience in facility maintenance, remodeling, and construction services. The company operates across the U.S. Its clientele comprises retail stores, restaurants, grocery stores, banks, clothing stores, supply chains, and others.

• Grounds Control USA deals in exterior facility management. It specializes in providing parking lot maintenance, landscape maintenance, and snow & ice removal services. Managing thousands of properties across U.S., the company has a network of over 800 vetted field partners as of 2024. The company also offers snow & ice removal services. It offers snow hauling, ice treating, and plowing & shoveling services, along with 24/7 emergency services.

Recent Developments

• In February 2024, Carl Walker Construction Inc. was hired by the Wheeling City Council of West Virginia, U.S. to perform five-year repair and preventive maintenance of the parking garages on the 10th Street Garage and for the Robert C. Byrd Intermodal Parking Garage.

• In August 2023, ABM INDUSTRIES INCORPORATED entered a three year agreement to oversee parking operationsat Oracle Park in San Francisco, California, the home of Major League Baseball’s San Francisco Giants.As part of this agreement, ABM became the sole entity responsible for overseeing the over 2,000 parking stalls distributed across Lot A on 3rd Street, Pier 48, and the King-Townsend Garage at 153 Townsend Street.

• In November 2022, Restocon Corporation announced business expansion with new division in maintenance, Line Striping and Parking Lot Maintenance division. The services offered through this new division includes parking lots and garages, sidewalks and walkways, bike paths, outdoor sports courts, and playgrounds.

North America Commercial Facility Parking Lot Maintenance Market Report Scope

North America Commercial Facility Parking Lot Maintenance Market Report Segmentation

This report forecasts revenue growth at country level and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the North America commercial facility parking lot maintenance market report on the basis of application, execution, and country:

• Application Outlook (Revenue, USD Billion, 2018 - 2030)

  • Supermarkets & Hypermarkets

  • Retail Stores

  • Restaurants

  • Hospitals

  • Public Buildings

  • Workspaces/Office Buildings

  • Hospitality

  • Banks

  • Convenience Stores

  • Shopping Centers

  • Other Commercial Applications

• Execution Outlook (Revenue, USD Billion, 2018 - 2030)

  • Self-perform

  • Outsourced

• Country Outlook (Revenue, USD Billion, 2018 - 2030)

  • U.S.

  • Canada