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Summary and extracts
1 Market Overview
1.1 Definition and scope of the study
Private parking lots are used for non-commercial use of parking space for motor vehicles. Paid parking lots may be considered"public" if they are regulated by municipalities. Private parking lots are often large , multi-story paved buildings and can be used for short-term parking or long-term storage of vehicles.
It is estimated that there are more than 400,000 private parking spaces in Italy, which is why there is considerable interest in the future of Italian parking lots. Domestic and foreign investors are looking closely at a profitable business that is destined to grow in volume thanks to the pedestrianization of historic centers, the creation of bike lanes and the increase in new registrations in the national context.
Capably controlling the industry are four foreign companies, followed by a sleeve of smaller companies and individual parking facilities:
- APCOA Parking: a German group, owns 91,000 parking spaces in Italy (150 parking lots);
- Saba: Spanish subsidiary, owns 21,000 parking spaces;
- Breitneider, head of Best in Parking: owns 12,000 parking spaces;
- Interparking: a Belgian investment fund, owns 10,000 parking spaces;
- Arpinge: the only Italian company that makes up the top 5, it has a presence in 5 major Italian cities with 13 on-street parking facilities for more than 7,000 rotating parking spaces under concession;
Municipal on-street parking lots account for over 60% of the parking spaces in Italy. The remaining 40% is divided between free public parking, commercial parking, informal parking, and private parking.
It is estimated that the average cost of building a private parking space in Italy (in a parking lot) ranges between 25,000 and 30,000 euros, while the construction of anon-street or off-street surface parkingspace ranges from10,000 to 20,000 euros, to which the real estate value of the land must be added.
The two trends that make this a potentially successful market are the increasing pedestrianization of urban centers and the continuing high rate of car buying in Italy.
1.2 The global private parking market
The global parking market is growing in line with global urbanization and the number of vehicles on the road. In ****, the global parking market was valued at $*.** billion and is expected to grow at an annual growth rate (***) of **.* percent over the time period from **** to ****. Several factors are influencing the ...
1.3 The Italian private parking market
The Italian private parking market is based on the country's high rate of motorization and the growing demand for parking in historic centers. The graph shows the number of normalized transactions (***).
Boxes and parking spaces: national data and by territorial area Italy, ****, in units Revenue Agency
For boxes and parking spaces, ...
1.4 Covid impact and rising electricity and fuel prices
The Covid-** pandemic and the resulting restrictions had a profound impact on the lifestyle of the Italian population. During the first lockdown, mobility in the country was drastically reduced, leading to severe consequences for the parking market.
To understand the effect of this period in Italy, it may be useful to ...
2 Demand analysis
2.1 Overview of demand
According to an Istat survey, parking difficulty is one of the biggest problems that households experience in their daily lives, almost on par with the risk of crime. In a highly motorized country like Italy (***), the demand for parking spaces grows in step with the increase in vehicle ownership and ...
2.2 Determinants of demand
The parking market is closely related to the country's mobility, so a graph is proposed regarding the spread of cars in Italy. As can be seen, the evolution of multi-car ownership has increased in recent years, from **** in **** to **** in ****. This increase occurs in a context of a decrease in single-car ...
2.3 A seasonal demand
the graph below represents the proportion of searches for a given term, in a given region and time period, compared to when it was most searched (***). Thus, a value of ** goes to attest to a search for the minor keyword in the region concerned, and a value of * means that there ...
2.4 Mobility in Italy
In the utmost ten years, a change in Italians' mode of travel has been attested. In fact, analyzing the mobility to go to work or study, it is attested that only **.*% decide to move on foot, while to use ecofriendly means of transport such as bicycles, is only *.*%. Low percentages are ...
3 Market structure
3.1 Market structure
To present the structure of the Italian market, we analyze three magnitudes related to ATECO code **.**.*: Parking and garage management.
Trend in the number of enterprises over the last five years Trend in the number of employees in the sector over the past five years Legal form of enterprises
Trend in ...
3.1 Parking value chain
3.2 Main market players
The private parking market is largely dominated by foreign companies, which through major investments have managed to obtain a total of nearly ** thousand parking spaces in the country. The chart below shows the main players in the market, in terms of real estate holdings and otherwise.
Most of these companies then ...
3.3 APCOA, a European leader in parking concessions
APCOA Parking is a Stuttgart-based group that is the leading parking management company in Europe. It manages nearly *.* million parking spaces in ** European countries, employing more than *,*** people. Its position as a market leader suggests the importance of its role in the market and to deepen its strategy and the innovation ...
3.4 The mid-size operators
FLORENCE PARKINGS S.P.A .
FIRENZE PARCHEGGI S.P.A. holds ** parking lots in Florence offer the widest choice of car and motorcycle parking in Florence. The company had a turnover of ** million euros in ****. For more than ** years, the company has operated an extensive network of paid parking lots with ...
4 Supply analysis
4.1 Overview of the offer
We can distinguish the supply of parking lots according to their different structure and according to their type or function.
Structure
Surface parking lots
Surface parking lots are parking lots on the same level, usually bounded by a fence, barriers, etc. This type of parking can be off-street or on-street. The ...
4.2 The companies in the industry
Companies responsible for managing parking lots and garages are identified by ATECO code **.**.** (***).
Legal form enterprises in the parking and garage management sector Italy, ****, % Istat
The number of employees per active enterprises, broken down according to legal form, is presented below. The total number of employees in the sector in Italy ...
4.3 Costs and prices
Costs
The cost of building a parking garage is particularly high. In fact, over the past decade, even public works has had to rely on private resources by using construction to build almost all of the parking lots in the structure.
The construction cost alone for a medium-sized underground parking lot ...
4.4 Industry innovation: EasyPark
EasyPark is the leading application in Italy and Europe for what concerns paid parking on blue lines.
In fact, the company has developed a platform through which the entire parking payment process comes in digital form, offering the customer a smart and fast solution to an everyday problem such as paying ...
5 Regulations
5.1 Regulations
The focus of the law on the parking issue today is mainly on the issue of their circulation and, therefore, the increased commercial attractiveness and investment incentive in the market for parking areas. Next we find the main parking regulation regulations.
The Tognoli Law introduced "A second type of private parking ...
6 Positioning of players
6.1 Segmentation
- APCOA Parking France
- Interparking Italia
- Saba Italia
- EasyPark
- ADR Mobility S.r.l.
List of charts presented in this market study
- Market value of the global parking market
- Value of the Parking Market
- Ownership of durable goods: one or more cars
- Motorisation rate in Europe
- Motorisation rate comparison
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