Germany Car Rental Market is expected to grow owing to shifting consumer preferences, inter travel between the cities with sightseeing in the tourist spots: Ken Research

Germany Car Rental Market is at growing stage and has moderately fragmented market with about 10-12 organized rental car providers. The Car Rental Market in the Germany has seen emergence of more players over the past 5 years. SIXT SE, Enterprises Holdig Inc., Europcar, and AVIS are market leaders in Germany.

Key Findings

In July 2022, Sixt announced that it is expanding its electric vehicle (EV) lease offerings in Germany. The Company has now German-made Tesla Model Y Performance available for lease to the users of the electric vehicle in Germany.
Growth rate of total car rental market is going to increase over the period as car leasing becomes easier, and market penetration rates increase in the country.
The tourism sectors in cities are expanding, which is expected to have a beneficial impact on the Indonesian car rental market growth.

Technological Advancement: Technological advancement and digitalization are factors assisting market players to stay ahead of the competition. Car rental services are often complemented by websites, allowing online reservations and car rental offices are primarily located near airports or busy city areas. Alongside the basic rental of a vehicle, car rental agencies typically offer extra services, such as GPS navigation systems, insurance, and entertainment systems.

Long Term Car Renting to Gain Momentum: Considering the fact of the cost associated with buying a new vehicle and its maintenance, the longer-term car renting market is expected to witness elevated demand during the forecast period. With the outbreak of the COVID-19 pandemic, the demand fell drastically as most of the offices shifted their work to a work-from-home policy, and tourists were not allowed in the country to restrict the virus from spreading. However, with the gradual opening of the economy and businesses, the demand is returning to the market, and it is expected that the market may grow at a high rate during the forecast period and because of these things market is coming back to its feet with new trends and development.

Support for sustainable travel boosts interest in train and bus transport: With broader challenges confronting all travel operators during the pandemic, car rental companies have suffered many of the same losses as other modes of transportation, such as airlines and trains, as a result of pandemic-driven demand for private travel options to non-urban destinations. However, as normal travel patterns resume in the coming years, car rental companies will face more direct competition from other modes of ground transportation, such as trains and buses, which will also seek a larger share of the more localized domestic and regional trips that are likely in the coming years, given the longer-term challenges facing long-haul travel.

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

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: -

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/germany-car-rental-market-outlook-to-2027/596211-100.html

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https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/saudi-arabia-car-rental-leasing-market/214914-100.html

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