Vehicle Roadside Assistance Market Revenue | CAGR of 5.32%

10 Oct 2024

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Table of Content

1. Vehicle Roadside Assistance Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Roadside Assistance Market 4. Vehicle Roadside Assistance Market Trends 5. Regional Snapshot 6. Vehicle Roadside Assistance Market Highlights 7. Market News

Vehicle Roadside Assistance Market Revenue and Trends

The global vehicle roadside assistance market revenue was valued at USD 26.19 billion in 2024 and is expected to attain around USD 39.65 billion by 2033, expanding at a CAGR of 5.32% during forecast period. The demand for technologies that offer vehicle roadside assistance is expected to continue surging as the focus on preventing accidents and improving road safety grows.

Market Overview

Vehicle roadside assistance refers to the service designed to help vehicle owners or drivers who face issues like vehicle breakdown or other problems while driving the vehicle. It includes services like fixing a flat tire, towing the vehicle, fuel delivery, and many others. The vehicle roadside assistance market is growing significantly due to rising inconvenience cases while driving vehicles. Auto club companies, vehicle manufacturers, and some insurance companies are providing these assistance services to ensure smooth customer services, which could help in attracting more consumers.

Report Highlights of the Roadside Assistance Market

• By service, the towing segment was the dominant service, contributing to the largest revenue share in 2023.  According to a report by Gitnux, there are currently around 42,000 thousand towing companies in the U.S. The rising number of mechanical failures, breakdowns and accidents is one of the major reasons which have led to the increasing demand for towing services.
• Based on the provider, the auto-manufacturers segment will retain its dominance from 2024 to 2034. Auto-manufacturers companies include roadside assistance services in their packages to maintain consumer relations, which is a major reason behind the segmental growth.
• On the basis of vehicle, the passenger vehicles segment captured the largest share of the market in 2023 and is also expected to remain its dominance in the coming years. This is mainly due to the large consumer base of these vehicles. Moreover, the rising production of passenger vehicles contributes to segmental growth.

Vehicle Roadside Assistance Market Trends

• Rising vehicle production: Increasing urbanization is one of the major reasons for the need for vehicles, especially passenger vehicles. This leads to increasing vehicle production. This market competition raises service standards, which contributes to the growth of the market.
• Technological advancements: Technological advancements in the automotive industry are gaining significant popularity due to the rising need for assistance in complex situations. Roadside assistance companies are growing due to the emergence of technologies like GPS tracking through mobile applications and smart applications in vehicles.
• Growth of the EVs: The growing demand and production of electric vehicles have led to many changes in the automotive industry. The rapid adoption of these vehicles leads to the rising need for specialized roadside assistance, which includes providing electric vehicle batteries instead of traditional fuels. The growth of these vehicles is expected to bring many opportunities in the market in the upcoming years.

Regional Snapshot

Europe dominated the global vehicle roadside assistance market with the largest revenue share in 2023. The dominance of the region is attributed to the presence of well-established automotive companies in the region. The region is also focusing on enhancing vehicle safety, which makes roadside assistance an important factor. These initiatives are also raising the competition in the European vehicle roadside assistance market.

Asia Pacific is expected to grow fastest in the market during the forecast period. The increasing vehicle ownership in countries like India, China, and Japan is one of the major reasons behind the increasing demand for roadside assistance services. The increasing urbanization is also leading to investments that focus on technological advancements in enhancing the vehicle security infrastructure.

Vehicle Roadside Assistance Market Highlights

Market News

• In September 2024, AUTO I CARE expanded their roadside assistance services to include electric two-wheelers across India, enhancing support for EV owners with a network of 58,000 garages in 1,100 cities.
• In October 2024, Urgent.ly, Inc. secured a three-year roadside assistance contract renewal with a global automotive fleet management partner, extending their relationship to nine years, driven by advanced service capabilities and yield-based pricing technology.
• In September 2024, Car Garage Expert launched 24/7 roadside assistance services in Dubai, enhancing support for vehicle owners with reliable help for flat tires, battery issues, fuel delivery, and towing.
• In March 2024, Okinawa Autotech partnered with ReadyAssist to offer 24/7 roadside assistance and emergency services for its electric two-wheeler customers, marking ReadyAssist's eighth partnership in FY2024.

Market Segmentation

By Service

• Tire Replacement
• Towing
• Jump Start/Pull Start
• Fuel Delivery
• Lockout/Replacement Key Service
• Battery Assistance
• Winch
• Trip Routing/Navigational Assistance
• Other Mechanic Service

By Provider

• Motor Insurance
• Auto Manufacturer
• Automotive Clubs
• Independent Warranty

By Vehicle

• Commercial Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Passenger Vehicles
• Hatchback
• Sedan
• Utility Vehicles

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