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NAICS Code 493110-02 Description (8-Digit)

The Storage industry involves the leasing or renting of space for storing goods, typically on a short-term basis. This industry is a subdivision of the General Warehousing and Storage industry, which also includes warehousing and distribution services. Storage facilities can range from small units for personal use to large warehouses for commercial use. The industry is driven by demand from individuals and businesses who require additional space to store their belongings or inventory.

Hierarchy Navigation for NAICS Code 493110-02

Parent Code (less specific)

Tools

Tools commonly used in the Storage industry for day-to-day tasks and operations.

  • Pallet jacks
  • Forklifts
  • Hand trucks
  • Shelving units
  • Storage bins
  • Ladders
  • Tape dispensers
  • Box cutters
  • Security cameras
  • Padlocks

Industry Examples of Storage

Common products and services typical of NAICS Code 493110-02, illustrating the main business activities and contributions to the market.

  • Self-storage units
  • Boat storage facilities
  • RV storage facilities
  • Wine storage facilities
  • Document storage facilities
  • Cold storage facilities
  • Art storage facilities
  • Record storage facilities
  • Data storage facilities
  • Portable storage units

Certifications, Compliance and Licenses for NAICS Code 493110-02 - Storage

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • OSHA 29 CFR 1910.178: This certification is required for forklift operators in the storage industry. It ensures that the operator is trained and competent in operating a forklift safely. The certification is provided by the Occupational Safety and Health Administration (OSHA).
  • Hazardous Materials Endorsement (HME): This endorsement is required for drivers who transport hazardous materials in the storage industry. It ensures that the driver is trained and competent in handling hazardous materials safely. The endorsement is provided by the Transportation Security Administration (TSA).
  • International Organization for Standardization (ISO) 9001: This certification is a quality management system standard that is applicable to the storage industry. It ensures that the company has a quality management system in place to consistently provide products and services that meet customer and regulatory requirements. The certification is provided by the International Organization for Standardization (ISO).
  • National Fire Protection Association (NFPA) 13: This certification is required for fire sprinkler system installers in the storage industry. It ensures that the installer is trained and competent in installing fire sprinkler systems that meet NFPA 13 standards. The certification is provided by the National Fire Protection Association (NFPA).
  • Certified Logistics Technician (CLT): This certification is designed for individuals working in the storage industry who are involved in receiving, storing, and shipping materials and products. It ensures that the individual has the knowledge and skills to perform their job effectively. The certification is provided by the Manufacturing Skill Standards Council (MSSC).

History

A concise historical narrative of NAICS Code 493110-02 covering global milestones and recent developments within the United States.

  • The storage industry has been around for centuries, with evidence of storage facilities dating back to ancient civilizations such as the Egyptians and Greeks. In the 19th century, the industrial revolution brought about advancements in transportation and manufacturing, leading to an increase in demand for storage facilities. The first modern storage facility was built in the United States in the early 1900s, and the industry continued to grow throughout the 20th century. In recent years, the rise of e-commerce has led to a surge in demand for storage facilities, as more and more consumers are shopping online and requiring storage for their purchases.

Future Outlook for Storage

The anticipated future trajectory of the NAICS 493110-02 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Growing

    The storage industry in the USA is expected to grow in the coming years due to the increasing demand for storage services from various sectors such as retail, e-commerce, and healthcare. The rise of e-commerce has led to an increase in demand for warehousing and storage facilities to store goods before they are shipped to customers. Additionally, the healthcare sector is also expected to drive growth in the storage industry due to the need for temperature-controlled storage facilities for pharmaceuticals and medical equipment. The industry is also expected to benefit from the adoption of new technologies such as automation, robotics, and artificial intelligence, which can improve efficiency and reduce costs. However, the industry may face challenges such as rising competition, increasing regulations, and the need to adapt to changing consumer preferences and market trends.

Industry Innovations for NAICS Code 493110-02

Recent groundbreaking advancements and milestones in the Storage industry, reflecting notable innovations that have reshaped its landscape.

  • Smart Warehouses: Smart warehouses are equipped with advanced technologies such as the Internet of Things (IoT), sensors, and automation to improve efficiency and reduce costs. These warehouses can track inventory in real-time, optimize storage space, and automate processes such as picking and packing.
  • Climate-Controlled Storage: Climate-controlled storage facilities are becoming increasingly popular due to the growing demand for temperature-sensitive storage solutions. These facilities can maintain a constant temperature and humidity level to protect goods such as pharmaceuticals, wine, and artwork.
  • Robotics and Automation: Robotics and automation are being used in the storage industry to improve efficiency and reduce costs. Automated storage and retrieval systems (ASRS) can move goods quickly and accurately, while robots can perform tasks such as picking and packing.
  • Cloud-Based Inventory Management: Cloud-based inventory management systems can help storage facilities manage inventory more efficiently by providing real-time data on inventory levels, orders, and shipments. These systems can also help reduce errors and improve customer service.
  • Mobile Storage: Mobile storage solutions are becoming increasingly popular due to their convenience and flexibility. These solutions involve delivering storage containers to a customer's location, allowing them to load the container at their own pace, and then transporting the container to a storage facility.

NAICS Code 493110-02 - Storage

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