Inclination In the growth of internet subscribers, preference for car-sharing and a rise In International tourist arrivals will lead to future growth. New Delhi: 01108/2013- Germany car rental industry has been undergoing a revolutionary change with the increase in car-sharing and online car renting, which are expected to drive the future of the industry. With an inclination in the construction of road networks and expansion In number of International tourist visits to Germany, the demand of cars or renting purpose would increase, thereby increasing the growth potential of car rental industry of Germany in future.
Carpooling and non-airport segment of the industry will be the major growth areas for the car rental companies in the Germany In the coming few years. The car sharing market in the country is anticipated to grow at a CAGR of 15. % by members over the period 2013-2017. It Is expected that by 2017, Germanys car sharing market would grow at a rapid pace due to enhanced integration with third party mobility solution suppliers as well as surging artnerships with cooperatives, facilitating Immense car sharing facilities among neighborhood communities.
In Germany, a pilot project has been started by the semiconductor manufacturer Infineon to replace regular pool vehicles with a corporate car sharing system. Corporate car sharing among employees is a more economical solution than company cars in regard to administration, travel and running expenses and maintenance. Thus, overall the car sharing market In the country is expected to showcase considerable growth in the coming five years.
Despite some recent legal challenges to peer to peer car sharing, the range of sharing options is growing, as it makes easier for the travelers to skip taxis, traditional car rentals and car ownership. According to research report, “Germany Car Rental Market Outlook to 2017: Car Pooling and Online Bookings to Drive Future Growth, Germany car rental market is estimated to grow at a CAGR of 4. 17% over the period 2013-2017 because of recovery in the economy, growing off-airport car rental market and Increasing business and leisure trips by German people.
With an inclination in the construction of road networks and expansion in number of international tourist visits to Germany, the demand of cars for renting purpose would increase, thereby increasing the growth of car rental industry of Germany in future. It Is expected that by 2017, Germanys car off-airport market would grow ata rapid pace due to the expansion of rental services to the suburban areas of Germany and aggressive geographic expansion plans by the major companies to open offices In off-airport locations, thus aking It convenient for the travelers to rent a car near their place.
The report provides detailed overview on the Germany car rental market in India and aids readers to identify the ongoing trends in the industry and anticipated growth in help industry consultants, car rental companies to align their market centric strategies according to ongoing and expected trends in the future.