Germany Car Rental Market Research Report, 2028

Car rental is the business of renting cars for a fee from rental service providers. Due to the increased use of smartphones and the growing number of users preferring the online channel, online tourist vehicle bookings are increasing in the country. With the advancement of technology, renting a vehicle through online booking has become the most popular option for customers in recent years. Furthermore, it offers additional features for real-time monitoring of a rental vehicle's operation, performance, and maintenance. Such features are invaluable assets for drivers and fleet managers, allowing them to identify risks and make timely improvements to their rental services. Some of the major car rental companies in Germany are Alamo, Buchbinder, Avis, Keddy, Hertz, Budget, Global, Enterprise, Dollar, and Sixt. During the forecast period, short-term car rentals are expected to dominate the market. These short-term car rentals enable consumers and families to visit local city sites with additional seasonal offers and discounts. Based on government regulations and framework, short-term leasing has assisted passengers in saving fuel costs and travelling to various locations in cities with ease. Considering these factors, demand is expected to remain positive. Germany is the epicenter of tourism in Europe and consistently helps the market to register sales gains. Hence, car rental companies offer minivans, passenger vans, and SUVs for customers in need of a long-term rental who may visit other neighbouring countries as well as the rising number of foreign visitors in Germany. According to the research report "Germany Car Rental Market Research Report, 2028," published by Actual Market Research, the market is expected to add USD 3.61 billion by 2028. During the forecast period, short-term leasing is expected to dominate the market. These short-term car rentals enable consumers and families to visit local city sites with additional seasonal offers and discounts. Based on government regulations and framework, short-term car rental has assisted passengers in saving fuel costs and travelling to various locations in cities with ease. Considering these factors, demand is expected to remain positive. With the increased use of smartphones and the growing number of users preferring the online channel, online tourist vehicle bookings are increasing in the country. Technological progress and digitalization are factors that help market participants stay ahead of the competition. Car rental services are frequently supplemented by websites that allow online reservations, and car rental offices are typically located near airports or in congested city areas. Car rental agencies typically provide additional services, such as GPS navigation systems, insurance, and entertainment systems, in addition to the basic rental of a vehicle. Car rentals in Germany are deeply appreciated for intercity travel between cities and sightseeing in tourist spots. The minimum age for renting a car in Germany is 21. You must have a driving licence for renting a car in Germany, and for international visitors, it is compulsory to have an international driver's permit to rent a car in Germany. International visitors also need to show a passport, proof of return travel, and residency information when renting a car. In Germany, there is no need to purchase insurance as car rental companies provide a damage waiver included in the cost of the car. If anyone wants to rent or hire a luxury car in Germany, they can do so from German cities including Berlin, Frankfurt, Munich, Hamburg, Düsseldorf, Cologne, and Stuttgart. In the case of a luxury car, there is an extensive logistic network of car rental companies in Germany that personally deliver any luxury car at any destination in the country. The average price of a medium rental in Germany is $68. The cheapest time to rent a medium in Germany is in January. On average, a rental car in Germany costs $1,500 per month ($49 per day). Dollar is the most affordable rental car agency in Germany, with prices as low as $18 per day in some areas of the country. In July 2022, Sixt announced that it was expanding its electric vehicle (EV) lease offerings in Germany. The company has now made the German-made Tesla Model Y Performance available for lease to users of the electric vehicle in Germany. Renting a car in Germany with a debit card is impossible in most cases. Germany is the epicenter of tourism in Europe and consistently helps the market to register sales gains. Hence, car rental companies offer minivans, passenger vans, and SUVs for customers in need of a long-term rental who may visit other neighbouring countries as well as the rising number of foreign visitors in Germany. Germany is the world leader in the premium car sector, with brands like Audi, BMW, and Mercedes revered in Germany and around the world. As such, models such as the Audi A6, BMW 3 Series, and Mercedes E-Class are all available to rent in Germany. The most popular locations to collect a rental car in Germany are: Car Hire Frankfurt Airport, Car Hire Munich Airport, Car Hire Dusseldorf Airport, Car Hire Berlin Tegel Airport, Car Hire Hamburg Airport, Car Hire Stuttgart Airport, Berlin Schoenefeld Airport, Cologne Bonn Airport, Hannover Airport, and Nuremberg Airport. Car rental prices in Germany are highly competitive because there are 15 car rental companies across the country. With over 594 car rental locations and 307,500 car rental options available, competition keeps prices low in Germany. The most popular car rental category in Germany is the Volkswagen Polo, available from five car rental companies in over 500 locations. The most popular locations to rent a car in Germany are Frankfurt International Airport, with 15 car rental companies and 360 cars to choose from. Considered in this report • Geography: Germany • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Germany Car Rental market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By car Type • Luxury car • Executive car • Economy car • Sports utility vehicle (SUV) car • Multi utility vehicle (MUV) car By application Type • Leisure/Tourism • Business The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to car rental industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.