Online Car Rental Service Market Germany — Ken Research

Germany Car rental Market by Pick-Up

The Germany Car Rental market is segmented by pick-up into on-airport and off-airport. On-airport holds the market share in Germany Car Rental Market as people wants to get picked from the airport.

Competition Scenario in Germany Car Rental Market

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 Holding Inc., Europcar, and AVIS are market leaders in Germany.

What is the Expected Future Outlook for the Overall Germany Car Rental Market Across the globe?

The Germany Car Rental market was valued at EUR ~billion in 2022 and is anticipated to reach EUR ~billion by the end of 2027F, witnessing a CAGR of ~% during the forecast period 2022-2027F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Germany Car Rental market is driven by long term car renting gaining momentum, support for sustainable travel boosts interest in train and bus transport and expansion of the tourism industry. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

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Also, 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. Furthermore, 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. And, 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.

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