The effects of the COVID19 pandemic were that the bankruptcies law was temporarily changed, which had the effect that companies that were already on a way to bankruptcy could live longer. That is also the reason why in 2020 the numbers were at a low point for almost 20 years. Then in 2021 the numbers soared. So the the 2024 prediction will be still lower than the 2021 numbers.
The long term view can be seen here: https://de.statista.com/statistik/daten/studie/4898/umfrage/...
It's a mix of reasons 1) Covid grants that delayed bankruptcies, 2) Increase of VAT back to 19% for hospitality industries, 3) Increase in construction costs for construction companies, 4) inflation, 5) disruption in trade
And this is not just traditional industries, even 1 in 10 startups risk bankruptcy. [1]
[0] https://www.tagesschau.de/wirtschaft/konjunktur/studie-insol...
[1] https://www.tagesschau.de/wirtschaft/unternehmen/insolvenzen...
That seems incredibly low though, even 10 years ago (and not specific to Germany) only 1 in 10 startups succeeded. [0]
[0] https://www.forbes.com/sites/neilpatel/2015/01/16/90-of-star...