The private parking market - Italy (2023)

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 growth of this market: the exponential increase in the number of vehicles worldwide, the growing demand for an effective solution to traffic management, and the rapid development of smart cities. [***]

Global private parking market World, ****-****, US$ Grand View Research

Parking management is an economical and reliable solution that is useful in assisting employees motorists to reduce their search for available parking spaces and limit traffic congestion. In addition, there has been a significant adoption of electric vehicles in recent times, which is an important fact to understand why city authorities have implemented charging stations, to increase the demand for parking management. Parking management is essential for businesses, as it offers greater optimization of spaces, allowing them to reach their maximum potential. Implementing features such as hassle-free booking, easy navigation, and parking control options are expected to fuel demand for parking management.

Regional insights

North America has been driving 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, the top five cities by size and inhabitants, where demand for parking spaces is highest, are taken inalysis. Specifically, purchases and sales in the fourth quarter of **** show a decrease in exchange volumes(***), while Rome shows a decline of about *%.

Boxes and parking spaces: the big cities Italy, ****, in units Internal Revenue Service

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 analyze the situation in Turin, one of Italy's largest cities, which has monitored mobility trends in Turin and Piedmont through the monitoring systems of the Mobility Central, with the aim of understanding and quantifying numerically the actual impact of the national and regional restrictive measures that have severely restricted citizens' movements.

In Turin , there are ** parking or barrier facilities distributed throughout the city, which recorded a decrease in parking occupancy compared to the previous month of up to -** percent. As for traffic within the Restricted Traffic Zone, starting March *, transits began to decline steadily until March **, **** with an average of -**% on weekdays and -**% on holidays.

Occupancy of parking facilities in Turin Italy, ****, in % Source: ****

This trend can also be seen in searches for the term parking on Google. The graph shows thehuge difference in trends between **** and ****, particularly in March, April and May, where searches were almost ...

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 circulation.

Survey: problems most widely felt by households in the area where they live Italy, ****, % Istat There is a wide availability of street parking in cities in Italy. This mode of parking, however, tends to be used in the so-called "blue stripes," given the chronic shortage of parking garages. Similar situation of verification abroad, where a recent article on the website Intertraffic, states that in the United Kingdom ** percent of parking spaces are on-street and a single stall occupies bem **.* square meters: an area that varies from country to country, but is always excessive. Elsewhere the situation is even more critical: in Mexico City, ** percent of new construction is parking. These data present a radical determinance for traffic trends in the various cities, as the presence of open parking lots has an extremely negative impact on traffic trends, as they slow down cars and increase road congestion, also having repercussions on ...

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 owners from **** to **** (***): comparing the figure with the increase in multi-car owners, we can see how the spread of cars has not decreased but rather individual ownership of the asset has increased.

Ownership of durable goods: one or more cars Italy, ****-****, thousands of units Istat

According to a survey conducted by Eurostat, the average number of cars per capita increased from *.** to *.** in **** . In Italy there is an increase of about* percent at the national level, standing at *.** cars per inhabitant (***). At the regional level, Italy places as many as four regions in the European top ten of territories with the highest number of cars per capita: the first place is covered by Valle d'Aosta. The latter leads among European Union territories for the number of cars per inhabitant, recording **** vehicles per thousand people. These numbers are favored by tax reforms that encourage the purchase of vehicles, an above-average ...

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 is not enough data for this keyword.

Over the three years analyzed, there is a clear cyclical trend in searches containing the term "parking." In fact, the greatest number of searches are recorded in the summer months of July and August, as well as on vacations; while with the return of autumn and the end of the summer vacations, a slump in demand is attested.

Search interest for the term "parking" Italy, ****, Google Trend Index Google Trends

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 also recorded for those who decide to move by motorcycles, scooters and mopeds (***). **.*% of Italians move by car, so this refers to an average of four out of three Italians. Clearly this percentage also includes a small number of passengers, but they account for less than * percent.[***]

Use of different types of means to get to work Italy, ****, % Geopop In **** , the car fleet has increased significantly; there are about ** million cars on the road in Italy , with the motorization rate having largely risen in recent years. Among large cities, the motorization rate reaches a record high of **.* percent in Catania (***). These figures, however, hint at the relevance of the presence of parking in and outside metropolitan cities, largely driven by a general increase in demand.[***]

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 the number of enterprises:

The percentage change in the number of enterprises active in parking and garage management in Italy between **** and **** was *.**%. We note a slight decrease from **** to **** and stability in ****, followed by a slight increase in the following two years. Specifically, it increased from **** enterprises in **** to **** in ****.

Number of enterprises active in the management of parking lots and garages Italy, ****-****, in number Istat

Trends in the number of employees:

The percentage change in the number of employees employed in parking and garage management in Italy between **** and **** was -*.**%. The decline is slightly larger than the decline in the number of enterprises.

Number of employees employed in the management of parking lots and garages Italy, ****-****, in thousands Istat

Legal form of enterprises:

In ****, the predominant legal form of businesses active in the management of parking lots and garages in Italy was the limited liability ...

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 rely on companies such as Apcoa, for the management and services of their infrastructure. Saba Parcheggi is a subsidiary of the Spanish infrastructure and investment company. It owns **,*** parking spaces in Italy. The next two companies, Best in Parking and Interparking are Austrian (***) and Belgian, respectively, and deal with investments. Only in fourth place is an Italian player, Arpinge, which deals with investments in infrastructure and in particular energy transitions.

Main players in the parking market Italy, ****, in units Source: ****

In terms of managing concessionaires, the market is more diverse and features many local companies. Of note is the role of APCOA, which provides specialized services in different types of parking to companies such as Interparking and Arpinge. In addition, Saba has integrated the parking management service within its business model, thus avoiding reliance on external players.

Based on data from the Report Companies portal, we calculated an approximate value ...

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 it champions.

In Italy it boasts a portfolio of *** artic ulated parking lots and rest areas, spread throughout the country, with a volume of **,*** parking spaces and an annual turnover in **** of ** million euros. With its consistent "asset light" business model, APCOA is the trusted partner that maximizes values for public and private entities. Its main office is located in Mantua, where it manages the main parking lot in the city center; other main operating locations are in Avellino, Bari, Bergamo, Bologna, Cagliari, Chiavari, Cuneo, Ferno (***), Foggia, Genoa, Lucca, Massa, Messina, Mestre, Milan, Mondovì, Palermo, Parma, Piacenza, Pistoia, Prato, Rapallo, Rho, Rome, Turin , and Verona.

The company places the customer at the center of its attention, offering multiple services including:

**-hour opening with staff presence Automatic and manual payment machines Info point with touch screen Car valet Payment by cell phone Different types of subscriptions Parking payment through Telepas

The ...

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 facilities located throughout the capital, close to all major points of interest.

The network has more than *,*** parking spaces including surface, underground, appurtenant and interchange parking spaces throughout the city, inside hospitals, population centers, exhibition complexes and markets. Features of the service are modern parking facilities, state-of-the-art video surveillance systems and access control.

MuoviAmo Parking

MuoviAmo Parking holds parking lots in Rome, Milan, and Florence. Specifically, it has ** parking lots in Rome, * in Milan, and * in Venice. The company had revenues of *.* million in ****.

MuoviAmo Parking's parking lots are divided into automated parking lots with "Designa" access system, a system that provides access control through entry columns that dispense the ticket or through the reading of subscriber cards, and assisted parking managed with a specially designed software that manages automation and access control.

At the same time, the company also offers a wide range of routine maintenance, overhaul and inspection ...

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 main advantage of this type of parking is ease of access, as well as safety (***). However, it requires a significant investment considering the cost of land acquisition, and encourages urban sprawl.

Underground parking lots

Underground parking lots are parking lots located under buildings, either in the city or in the suburbs (***). They often have several levels, thus allowing significant savings on land investment. However, construction costs are often much higher, and underground parking lots are subject to a large number of regulatory requirements.

Multi-story parking lots

Multi-story parking lots are very similar to underground parking lots, the key difference being that the levels do not go below ground level, which saves heavy excavation work and costs.

Function

Another segmentation can be made by considering the specific function of parking lots.

Airport parking lots

Airport parking lots are characterized by high flows of cars and a wide variety of demands, from ...

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 in **** is **,***; most employees are concentrated in Limited Liability Companies(***). Number of employees of enterprises active in the management of parking lots and garages Italy, ****, in units Istat

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 (***). The concessionaire must then bear all costs related to technical expenses, surveys, administrative paperwork, legal disputes, suspensions for archaeological finds, and various contingencies. The actual cost thus exceeds **,*** euros per parking space, and it is not uncommon for cases to reach **,*** euros and more.

Considering that the average hourly rate is around *.** euros net of VAT and that a parking lot is fully operational about *** days a year, assuming an average hourly occupancy rate of * hours a day we get a gross annual income of about *,*** euros per parking space. Quantifying, based on statistical data, the manager's operating costs and profit at *,*** euros, this leaves *,*** euros per year available to cover investment and financial interest, including the profit for venture capital. Since the standard term of a concession is around ** years, it is easily verified that *,*** euros per year corresponds to the amortization of **,*** euros over ** years at an interest ...

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 for blue lines. In fact, the customer can now identify the area code without going to the parking meter, establish the beginning and end of the parking period, which can possibly be extended directly from their cell phone, wherever they are, or be interrupted early when they return to their car, and finally pay only for the parking actually consumed, in compliance with the rates set by the municipal administration.

The company offers two packages, EasyPark Large and EasyPark Small. The first is the ideal solution for those who spend at least €* per week on parking and has a fixed fee of €*.** per month. The second, on the other hand, is the perfect solution for those who park little: there are no fixed fees and you pay +**% on the total cost of parking, only when you use the service.

There are more than *** Italian municipalities where this service is available, ...

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 (***).

In summary, there are:

a. appurtenant parking spaces in new buildings(***); b. parking spaces serving existing buildings and parking spaces on public spaces(***); c. parking spaces built in excess of the provisions ofArticle ** sexies of the Urban Planning Law.

Parking spaces serving existing buildings are provided for in Paragraph * of Article *. These are the parking lots that "Owners of buildings may realize in the subsoil of the same or in the premises located on the ground floor of the buildings (***) to be used as an appurtenance of individual building units, even in derogation of the urban planning instruments and building regulations in force. Such parking spaces may also be built, for the exclusive use of residents, in the subsoil of appurtenant areas outside the building."

Parking spaces on public spaces are, on the other hand, regulated by Paragraph * of Article * under review, according to which "Municipalities, after determining the criteria ...

6.1 Segmentation

• APCOA Parking France
• Interparking Italia
• Saba Italia
• EasyPark
• ADR Mobility S.r.l.