Germany Car Rental Market Size (2024 - 2029)

The market size of car rentals in Germany, despite being impacted by the COVID-19 pandemic, is expected to witness substantial growth due to shifting consumer preferences and the country's status as a popular tourist destination. The growth of the passenger car segment has also contributed to the expansion of the car rental market. Short-term leasing is projected to continue its growth trend, with benefits such as fuel expense savings and hassle-free travel contributing to its popularity. Despite recent disruptions, the market size is expected to remain on a positive trajectory during the forecast period.

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Market Size of Germany Car Rental Industry

Germany Car Rental Market Forecast
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 13.10 %
Market Concentration Medium

Major Players

Germany Car Rental Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Germany Car Rental Market Analysis

Germany car rental was valued at USD 2.04 billion in 2021 and expected to surpass a net valuation of USD 4.44 billion by 2027 end, registering a solid CAGR growth of 13.01% during the forecast period.

Recent COVID-19 has disrupted the market growth. With lockdowns and travel restrictions, the demand for car rentals has declined. The majority of car rental consumers avoided the usage of rental cars during the pandemic owing to the virus's spread. This has moreover, reduced the revenue-generating capacity of the business. However, shifting consumer preferences have been the key growth propeller for the market. In addition, these car renting in Germany are deeply acknowledged for inter travel between the cities and sightseeing in the tourist spots.

Moreover, the passenger car segment in Germany has witnessed immense growth historically thus fueling the market for car rental as well. Germany the epi-center of tourism in Europe is witnessing improved renting services for passenger cars for years and consistently helping the maret to register sales bars.

Short-term leasing is likely to continue to grow during the forecast period. These short leasing helps the consumer and families to visit the local sites of cities with additional seasonal offers and discounts. Based on regulation and framework of government, these short term leasing has helped the passengers to save their fuel expenses and travel hassel free a different places in the cities. Considering these fcators, demand is seen to remian on the positive side during the forecast period.

Germany Car Rental Industry Segmentation

Car renting refers to the business of leasing and renting a car from rental service providers based on some valuation. This renting can be on an hourly basis or for a longer time span.

The car renting market is segmented by application type, booking type, and rental length. By application type, the market has been segmented into leisure/tourism and Business. By booking type, the market has been segmented into online and offline. By length type, the market has been segmented into short-term and long-term. For each segment, the market sizing and forecasting are based on value (USD Billion).

Application Type
Leisure/Tourism
Business
Booking Type
Offline
Online
Rental Length Type
Short-Term
Long-Term

Germany Car Rental Market Size Summary

The German car rental industry has experienced solid growth in recent years, driven by factors such as the growth of the passenger car segment and increased demand for short-term leasing. Despite the disruption caused by the COVID-19 pandemic, the market is expected to continue growing, with shifting consumer preferences acting as a key growth propeller. The popularity of car rentals for intercity travel and sightseeing in tourist spots is particularly noteworthy. Moreover, the industry is seeing a trend towards online car rental services, with online bookings on the rise due to the increasing use of smartphones and a preference for online channels. In addition to short-term leasing, the market for longer-term car rentals is also gaining momentum, especially in the corporate sector. This is largely due to the high costs associated with buying and maintaining a new vehicle. Despite a temporary drop in demand during the pandemic, the long-term rental market is expected to see a surge in demand as the economy recovers. Key players in the German car rental market include SIXT SE, Enterprises Holding Inc., Europcar, and AVIS, all of which operate both online and offline to meet consumer demand.

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Germany Car Rental Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porters Five Force Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value USD Billion)

    1. 2.1 Application Type

      1. 2.1.1 Leisure/Tourism

      2. 2.1.2 Business

    2. 2.2 Booking Type

      1. 2.2.1 Offline

      2. 2.2.2 Online

    3. 2.3 Rental Length Type

      1. 2.3.1 Short-Term

      2. 2.3.2 Long-Term

Germany Car Rental Market Size FAQs

The Germany Car Rental Market is projected to register a CAGR of 13.10% during the forecast period (2024-2029)

Avis Budget Group Inc., SIXT SE, Europcar International, Alamo (Enterprise Holdings Inc.) and The Hertz Corporation are the major companies operating in the Germany Car Rental Market.

Germany Car Rental Report Snapshots

Germany Car Rental Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)