Focus on surge in digitization and connectivity and rise in the number of people taking business and leisure trips are major factor contributing towards development of Car Rental Market in Germany
COVID-19 Impact on Germany Car Rental Market: The rapid spread of coronavirus across the country and enforced lockdown in country have had a negative impact on the car rental market. Manufacturers operating in the car rental market are recovering from the losses caused due to disturbed services due to halt on transportation activities and travel restrictions. After the successful recovery of businesses, manufacturers in the car rental market are marking their presence in the market. Major players operating in the car rental market are investing and expanding their services to fulfill rising demands from consumes.
Rise in Number of Travelers Demands for Car Rental Services: The increasing popularity of tours and travels due to rising disposable incomes is a factor demanding high quality and reliable travel services for their tours. Leading car rental service providers are offering quality services and promoting their brands at airports, and this is helping customers to adopt their services. Rise in demand for luxury cars for short-term transportation services is expected to boost the market in the forecast period. Advancements in technology are enabling the expansion of web-based sales channels, which has resulted in higher booking via online channels.
Increasing Demand for Online Car Rental Services: Online tourist vehicle bookings are increasing in the country and globally due to the rising usage of smartphones, and the growth in the number of users preferring online channel. With the growing trend in technology, renting a vehicle through online booking has become the most preferred choice for customers over the past few years. Moreover, it provides additional facilities to monitor a rental vehicle’s operation, performance, and maintenance in real-time. Such features are tremendous assets for drivers and fleet managers, enabling them to better and more efficiently identify risks and implement timely improvements to their rental services.
Analysts at Ken Research in their latest publication “Germany Car Rental Market Outlook to 2027F– Segmented by Market Structure (Organized Market and Unorganized Market), By Type of Vehicles (Small Cars/Hatchbacks, Sedans, SUV and Others, By Ice/EV (Ice (Internal Combustion Engine) And Electric Vehicles, By Cities (Berlin, Hamburg, Munich and Others), By Mode of Booking (Online and Offline), By Client (Business and Leisure and By Pick-Up (On-Airport and Off-Airport).” observed the potential of the Car Rental Market in Germany. The expansion of the tourism industry with rising foreign tourists in Germany and On- Demand for transportation, the rising internet population in the country, and increasing demand from customers along with government incentives on electric vehicles are expected to contribute to the market growth over the forecast period. The Germany Car Rental Market is expected to grow at ~% CAGR over the forecasted period 2022-2027F.
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Key Segments Covered in the report
Germany Car Rental Market
By Market Structure:
- Organized market
- Unorganized market
By Type of Vehicles:
- Small Cars/ Hatchbacks
- Sedans
- SUVs
- Others
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By ICE/EV:
- ICE (Internal Combustion Engine
- Electric Vehicles
By Cities:
- Berlin
- Hamburg
- Munich
- Others
By Mode of Booking:
- Online
- Offline
- By Client:
- Business
- Leisure
By Pick-up:
- Off-Airport
- On-Airport
Key Target Audience
- Car Rental Service Providers
- Car Rental Companies aiming to establish in Germany
- Germany’s automotive industries
- Government Bodies & Regulating Authorities
- Venture Capitalist targeting the car rental market
- Automotive industry association
- Car Manufacturers
- Existing Car Rental Companies
- OEM Dealerships
- New Market Entrants
- Investors
- Car Rental Associations
Time Period Captured in the Report:
- Historical Year: 2017-2022
- Base Year: 2022
- Forecast Period: 2022– 2027F
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Companies Covered:
- Europcar
- Sixt
- Avis
- Hertz
- Alamo
- Buchbinder
- Budget
Key Topics Covered in the Report
- Overview, Operating Models and Company Profile of the Automotive Industry in the Germany, 2022
- Overview, Genesis and Ecosystem of Car Rental Market in Germany, 2022
- Business Cycle, Timeline, and Value Chain Analysis of Car Rental Market in Germany
- Germany Car Rental Market Sizing, 2017- 2022P
- Market Segmentations of Car Rental Market in Germany (by Market Structure, by Type of Vehicle, by ICE/ EV, by Mode of Booking, by Pick-up, by Client, by cities), 2022
- SWOT Analysis and Growth Drivers of Germany Car Rental Market
- Government regulations of Germany Car Rental Car Electrification Market
- Trends, Developments and Challenges of Germany Car Rental Market
- Competitive Analysis of Car Rental Market in Germany
- End User Analysis of Car Rental Market in Germany
- Future Outlook and Projections of Car Rental Market in Germany, 2022-2027F
- Market Opportunities and Analyst Recommendations
For more information on the research reports, refer to below link: –
Future Outlook of Germany Car Rental Market
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