Europe Automated Parking System Market

Market Introduction

Germany, France, the UK, and Italy are the prime contributors to the European automated parking system market. Western Europe is a well-known for its improved living conditions, with higher income levels of residents. Countries have in Western Europe have greater GDP per capita than the rest of the nations in the region. Steady economic progress is an indicator of opportunities for the automated parking system market in European countries. The Canadian government has announced an investment of US$ 1.8 million in an Ontario-based business s2e Technologies to test the world's first integrated, automated electric vehicle (EV) parking system at EVE Park in London's West 5 community. Governments of the EU countries are mandating the compliance with EN 14010 Safety of machinery to ensure that automated parking system are safe for the general public. According to the scope of this standard, automated parking systems must be rigorously tested to eliminate mechanical, electrical, thermal, and other risks. Design review, visual inspection, functional testing, loading tests, and specialized verification/measurements are all part of the verification process. An automated parking system expands a parking lot's capacity, improves parking efficiency, lowers greenhouse gas emissions, avoids car theft, and enhances safety and convenience. According to the INTRIX survey, an average German driver spends 41 hours per year looking for a parking spot. The cost of wasted fuel, time, and emissions are estimated to be over USD 45 billion. The rising population places significant strain on parking infrastructure, necessitating the expansion of existing infrastructure in metropolitan areas. Furthermore, rising per capita income and improved lifestyles have increased the demand for personal mobility, resulting in increased automobile sales in metropolitan areas. As a result, the number of vehicles on the road outnumber the number of parking spots available in cities. These factors collectively drive the adoption of automated parking systems that can ensure optimum space utilization for parking. In July 2019, HORIBA MIRA, a multinational engineering firm, teamed with Coventry University to launch "Trusted Autonomous Parking" in Nuneaton, the UK's first connected and autonomous vehicle (CAV) parking facility. Moreover, in January 2020, Klaus Multiparking built a fully automatic parking system—MasterVario R3L—at Rathbone Square, London, in collaboration with Lendlease, a British construction and real estate company, and MACE architects.

With the outbreak of SARS-CoV-2, the production and sales of cars came to a sudden halt in most of Europe. In April 2020, European countries witnessed the historically lowest new car registrations. The automotive sector plays an important role in economic growth and employment in many European countries. The collapse of the demand side, disruptions in supply chains, and challenges related to technologies have severely impacted the automotive sector in these countries, which put the economy in a deep crisis and resulted in a reduction in international trade. Automotive production in Europe fell by 21%, while the UK, Spain, and Germany witnessed a major decline of ~11–40% each. The government is lifting restrictions in different parts of the regions. In addition, progress in vaccination programs and other supportive measures would stimulate demand for cars, thereby boosting sales in the coming years. Government initiatives to rejuvenate suburban areas can potentially bring more cars on the road, which could further propel the demand for automated parking systems in Europe during the forecast period.

Europe Automated Parking System Strategic Insights

Strategic insights for the Europe Automated Parking System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Automated Parking System Report Scope

Europe Automated Parking System Regional Insights

The geographic scope of the Europe Automated Parking System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Market Overview and Dynamics

The automated parking system market in Europe is expected to grow from US$ 494.42 million in 2021 to US$ 1

,

256.09 million by 2028; it is estimated to grow at a CAGR of 14.2% from 2021 to 2028. Robotic garages and robotic parking; garages equipped with robotics are anticipated to become increasingly popular over the next several years as they store and retrieve vehicles in a secure, space-efficient manner. As large cities report the shortage of rooms, the popularity of automated garages is rising rapidly owing to their space management capabilities. Robotic parking systems eliminate the requirement of human interference to fit vehicles into tightly packed cubicles, and they require enough room for robots to move. Densely populated countries are thus quickly embracing robotic parking systems. Companies that offer automated, robotic garages, are placing greater emphasis on upgrading the efficiency and sustainability of transportation systems. PARKPLUS Electric Vehicle Charging solution provides EV charging capacity to its automated and semi-automated parking systems. The solution is designed for pallet-based parking systems and platforms. The vehicles’ connection with a charging system is established when the parking platform arrives at designated parking space in the garage. Growing demands for simple, robust, and user-friendly solutions for charging EVs are increasing the constructions of reliable APS that are compatible with all models of electric vehicles. This is bolstering the growth of the automated parking system market.

Key Market Segments

On the basis of component, the market is segmented into hardware and software. In 2020, the hardware segment held the largest share Europe automated parking system market. Based on the automation level, the automated parking system market is segmented into semi-automated and fully-automated. The market for fully-automated parking systems is anticipated to grow at a significant CAGR during the forecast period. On the basis of platform, the market is segmented into palleted and non-palleted. The palleted segment accounts for largest market share in the 2020. On the basis of end-user, the automated parking system market is segmented into residential, commercial, and mixed-use. The commercial segment contributed a substantial share in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the automated parking system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AJ Automated Parking Systems Co., Ltd.; Citylift Parking; Fata Automation Inc; Klaus Multiparking; Park Plus, Inc.; Parkmatic; Robotic Parking Systems, Inc.; Skyline Parking (Fehr Lagerlogistik AG); Unitronic Corporation Inc.; and Westfalia Technologies, Inc. among others.

Reasons to buy report

• To understand the Europe automated parking system market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe automated parking system market
• Efficiently plan M&A and partnership deals in Europe automated parking system market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe automated parking system market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Europe region.

EUROPE AUTOMATED PARKING SYSTEM MARKET SEGMENTATION

By Component

• Hardware
• Software

By Platform

• Semi-automated
• Fully-automated

By

Automation Level

• Palleted
• Non-palleted

By

End-User

• Commercial
• Residential
• Mixed-use

By Country

• France
• Germany
• UK
• Italy
• Russia
• Rest of Europe

 

Company Profiles

• AJ Automated Parking Systems Co., Ltd.
• CityLift Parking
• FATA Automation Inc.
• Klaus Multiparking
• Parkmatic
• Robotic Parking Systems, Inc.
• Skyline Parking (Fehr Lagerlogistik AG)
• U-tron
• WESTFALIA TECHNOLOGIES, INC.