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Ride-hailing - Germany

Germany

Germany's Ride-hailing market is expected to witness a significant rise in revenue in the coming years.
It is projected to reach a revenue of €1.52bn by 2024 and exhibit an annual growth rate of 2.98%, leading to a market volume of €1.76bn by 2029.
The number of users in this market is expected to reach 11.26m users by 2029, with user penetration projected to be 12.2% in 2024 and 13.6% by 2029.
The average revenue per user (ARPU) is estimated to be €149.90.
The Ride-hailing market is an online-only market.
It is worth noting that in comparison to other countries, China is expected to generate the most revenue in this market, with a projected revenue of €55,230m in 2024.
In Germany, ride-hailing services face strict regulations and competition from established taxi companies which offer their services increasingly online.

Key regions: South America, Europe, China, Saudi Arabia, Malaysia

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Analyst Opinion

The Ride-hailing market in Germany has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Germany are increasingly looking for convenient and flexible transportation options, which has led to a rise in demand for ride-hailing services. The ease of booking a ride through a mobile app and the ability to track the location of the driver in real-time have made ride-hailing a popular choice among consumers. Additionally, the availability of multiple payment options and the ability to rate drivers has also contributed to the growing popularity of ride-hailing services in the country.

Trends in the market: One of the key trends in the ride-hailing market in Germany is the increasing competition among ride-hailing companies. Global players such as Uber and local players like Free Now and Kapten are all vying for market share, leading to aggressive marketing campaigns and promotional offers. This competition has not only led to lower prices for consumers but has also resulted in improved service quality as companies strive to differentiate themselves from their competitors. Another trend in the market is the growing popularity of electric ride-hailing services. With increasing concerns about environmental sustainability, many ride-hailing companies in Germany are now offering electric vehicles as part of their fleet. This not only helps reduce carbon emissions but also appeals to environmentally conscious customers who prefer to use eco-friendly transportation options.

Local special circumstances: Germany has a well-developed public transportation system, which includes an extensive network of trains, buses, and trams. However, there are certain situations where ride-hailing services offer a more convenient option. For example, during late-night hours when public transportation is limited, or when traveling with heavy luggage, ride-hailing provides a door-to-door service that is more convenient than using public transport. Additionally, the presence of a strong taxi industry in Germany has also influenced the development of the ride-hailing market. Taxi drivers have been vocal in their opposition to ride-hailing services, leading to regulatory challenges and legal battles. However, despite these challenges, ride-hailing companies have been able to establish a presence in the market and gain a significant customer base.

Underlying macroeconomic factors: Germany is one of the largest economies in Europe and has a high standard of living. This has created a favorable environment for the ride-hailing market to thrive, as consumers have the disposable income to spend on convenient transportation options. Additionally, the country has a high smartphone penetration rate, which has made it easier for ride-hailing companies to reach and engage with customers. In conclusion, the ride-hailing market in Germany is experiencing growth due to changing customer preferences for convenience and flexibility. The increasing competition among ride-hailing companies, the popularity of electric ride-hailing services, and the unique circumstances in the German market have all contributed to the development of this industry. With a strong economy and a high standard of living, Germany provides a favorable environment for ride-hailing companies to expand and thrive.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of ride-hailing services.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.