Germany, having the world’s fifth-highest number of coronavirus cases, has experienced far fewer deaths from the disease in comparison with the other countries including Italy, China, the US, and others. As of March 25, 2020, the registered cases of the COVID-19 in the country were around 33,000 out which 3,300 has been recovered and around 160 mortalities were registered so far. In an unprecedented response, the German government assured a large amount of liquidity support to all companies ranging from the smallest businesses to large multinational corporations. The country’s government is providing loans to all companies to keep the country's economy afloat. Germany’s state development bank KfW, which is the largest in Europe has approximately half a trillion Euros available to support the country’s economy. The country is also planning to increase borrowing by around $160 billion in 2020.

As similar to other European countries, the country has taken a number of steps in an attempt to prevent and control the spread of the disease. However, the country is also facing challenges of economic downfall due to the effect of the COVID-19 pandemic. It has affected the whole production capability of the country coupled with a slowdown in global demand, and concerns regarding the availability of raw material. As a result, the manufacturing companies in the country have temporarily shut down their industrial operations.

Key companies operating in Germany whose business operations are significantly affected due to COVID-19 include BASF SE, Robert Bosch GmbH, BMW AG, Hyatt Hotels Corp., McDonald's Corp., Microsoft Corp., Siemens AG, Walmart Inc., Allianz SE, Daimler AG, Lufthansa AG among many others. As a result of the COVID-19 epidemic, most of the companies have to close their maximum numbers of stores in Germany. Due to the closure of all stores, the companies may face a loss of revenue per month. On the contrary, due to unprecedented demand for personalized protection equipment (PPE) in the country, the German government and manufacturers are adopting some important measures for the development and adoption of more PPEs. Along with this, the government is also focused on developing vaccines for the cure of COVID-19. For instance, BioNTech, a German-based company along with Pfizer is indulged in the drug development platform to find a vaccine for COVID-19.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the German economy. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effects of COVID-19 on Germany's economy of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the pre and post-COVID-19 impact on the German economy.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the German economy.
• Insights about market determinants which are stimulating the German economy.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.