The private parking market - Italy

The global private parking market is growing in line with increasing global urbanization and vehicle numbers, with projections suggesting an increase from $44 billion to $140 billion by 2025. In Europe, there were almost 500 million parking spaces, of which less than 15 million were private, with Italy home to over 400,000 private parking spaces. The Italian market is characterized by a shortage of parking spaces, significant foreign investment and high levels of vehicle ownership - with registration rates soaring by 19.5%. Italy's private parking scene is dominated by foreign companies such as APCOA Parking (83,000 spaces), and the Italian industry is witnessing a steady increase in demand. This is demonstrated by the increase in normalized transactions (NTN) of parking spaces in all macro-regions in 2020, particularly in the north of the country. Parking lot construction costs are high, estimated at 18,000 euros per space, with an average hourly rate of 1.30 euros. Seasonally, parking demand peaks in July and August, reflecting the impact of the summer vacations on mobility and parking needs.

Trends and dynamics in the Italian private parking market

The Italian private parking market has undergone a significant transformation due to the interaction between rising car ownership rates and urbanization, particularly in historic city centers. With an estimated total of almost 500 million parking spaces in Europe, Italy is home to over 400,000 private parking spaces, reflecting a strong and competitive market for private vehicle storage solutions. Demand for parking in Italy is driven by the country's high rate of vehicle penetration, with a steady increase in multi-car ownership. For example, the number of households owning one or more cars has risen from around 7.7 to 8.4 million. This growth in the number of vehicles goes hand in hand with Italy's reputation as one of Europe's leading nations for the number of vehicles per capita. This intensifies demand for parking spaces, especially as public transport remains a less favorable alternative, with cities like Milan leading the way with just 38% use. The proliferation of cars in Italy, with some 44.8 million vehicles on the road, underlines the urgent need for additional parking solutions. What's more, parking difficulties are perceived as a major daily problem for households, almost as important as crime-related concerns. This centrality of vehicles in Italians' daily lives fosters a strong demand for parking spaces, with 97% of Italian drivers frequently confronted with paid parking situations. The need for parking is most pronounced in northern Italy, which dominates the sector with figures significantly higher than those observed on the islands. Despite this, remarkable growth in parking transactions of between 9.5% and 10.5% was observed in the South and Islands region. A significant proportion of the Italian parking market is controlled by foreign companies, such as APCOA Parking (Germany) and Saba (Spain), along with a few Italian companies such as Arpinge. APCOA Parking, in particular, has a considerable market share, with extensive operations and innovation, not least thanks to the introduction of its APCOA FLOW digital platform. Cost dynamics in the parking market are characterized by relatively high construction and maintenance expenditure for parking facilities, with costs per space for a new underground parking lot ranging from 18,000 to over 20,000 euros. The national average for hourly parking rates is around 1.30 euros, indicating a balanced revenue stream that guarantees a return on investment for the duration of the concession. Seasonality also affects parking demand in Italy, with peak periods in the summer and a noticeable decline in the colder months. These cyclical trends reflect the influence of vacation patterns on parking space.

Dominant forces in the Italian private parking sector

While the private parking market in Italy is experiencing strong growth, largely influenced by urbanization and the increasing number of vehicle owners, a few international entities have established a dominant position. Among the key players shaping the Italian parking landscape, four foreign companies are emerging as the titans of the industry, bringing a blend of global management and strategic investment.

• APCOA Parking: German giant APCOA Parking occupies a prominent position, with a collection of 83,000 parking spaces spread across 140 Italian parking lots. APCOA not only supplies parking spaces, but also extends its management prowess to other parking companies, illustrating its broad reach and adaptability in the Italian market.
• Saba Parcheggi: Saba Parcheggi, a branch of the Spanish infrastructure titan, strengthens its presence with a portfolio of 21,000 spaces. Saba integrates parking management into its core operations, reflecting a holistic approach to parking solutions within the Italian borders and beyond.
• Best in Parking: The Austrian Breitneider family runs this company, which focuses on the southern regions of the peninsula, where it manages a network of 12,500 parking spaces. Best in Parking illustrates regional strength and a focused business strategy aligned with the parking demands of southern Italy.
• Interparking: With the finesse of Belgian investments, Interparking boasts an impressive network of 10,000 parking spaces. Its strategic investments underline its commitment to improving parking infrastructures and the quality of services offered to Italian motorists. This influential quintet is completed by
• Arpinge, an Italian entity belonging to the Arpinge Group, which offers over 7,000 parking spaces throughout the country. Arpinge is a testament to local prowess and the desire to meet the parking needs of Italian motorists with nationalistic fervor.

These key players operate in a demanding, multi-faceted sector, where municipal on-street parking still reigns supreme. Nevertheless, they are collectively shaping the future of parking in Italy, continually adapting to urban regulations, technological advances and changing consumer demands within an ambitious and profitable market.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 10/10/2023

Summary and extracts

List of charts

• Market value of the global parking market
• Value of the Parking Market
• Cars per Capita
• Motorization rate
• Vehicles on the road
• Attitudes toward public transportation
• Ownership of durable goods, one or more cars
• Distribution of city mobility, by category
• Survey: problems most widely felt by households in the area where they live
• Main Player of the Parking Market
• Part de marché des principales entreprises
• Number of normalized transactions and change in purchases and sales of parking spaces
• Number of normalized transactions and change in purchases and sales of parking spaces
• Breakdown of parking spaces managed by APCOA Italy
• Search interest for the term "parking"
• Business entity of companies in the parking management industry
• Search interest for the term "parcheggio"
• Occupancy of parking spaces in facilities in Turin