Vehicle Roadside Assistance Market Impressive Gains by 2022-2030

The global Vehicle Roadside Assistance market size was USD 22.36 billion in 2021 and is projected to reach USD 33.48 billion by 2030, exhibiting a CAGR of 4.6% during the forecast period 2022 – 2030

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Growth Factors

Rising number of accidents and vehicle collisions is the major factor driving the vehicle roadside assistance market. As per World Heallth Organization (WHO), approximately 1.35 Mn people die from road traffic crashes every year. Further, 93% of the world on-road fatalities occur on middle and low income countries, even though the 60% of global vehicle are concentrated in those countries.

Moreover, increasing demand for hybrid and electric vehicles along with rising demand for connectivity solution in vehicles expected to fuel the vehicle roadside assistance market growth. Real-time highway alert, telematics systems, sensors, in-built wifi system, global positioning system are some of the advanced vehicle solutions that manufacturers now incorporate in their vehicles to enhance the driver experience. These systems are electronic-controlled and may experience issue at any time. Therefore, aforementioned factors contribute to the growth of the vehicle roadside assistance market.

Nonetheless, extra money charged by the service providers on pay per service may hinders the growth of the market. Every service providers have their membership plan under which they cover all the roadside assistance and emergency services, besides this they charge extra money for each service provided.

Report Scope of the Vehicle Roadside Assistance market

Report Highlights

• Asia Pacific seeks to be the most opportunistic market during the forecast period. Prime factors attributed to this are augmented per capita income, significant number of automotive sales, and rising adoption of electronic assistance features in the vehicle.
• Europe led the global vehicle roadside assistance market in terms of revenue share in 2019. The region is the hub of automotive manufacturers and register significant adoption of advanced vehicle assistance feature by the drivers that in turn fuels the market growth.
• By service, towing service encountered maximum revenue share in the global vehicle roadside assistance market in 2019. It is the most common emergency service offered by the service providers due to fatal roadside accidents and collisions. Furthermore, advanced towing devices have provided ease in the towing service that adds as an advantage to the toeing service market.
• Passenger vehicle captured maximum revenue share in the global vehicle roadside assistance market. Rising sales of passenger vehicles and increased number of vehicle registration has triggered the growth of passenger vehicles in the vehicle roadside assistance market.

Regional Insights

The rapid growth of the automobile sector in Europe has led the region as the most prominent revenue generator for the global vehicle roadside assistance market in 2019. Rising sales of vehicles across Europe coupled with a significant number of on-road vehicles in the region are some of the prime factors driving the growth of the market. Escalated per capita income, consumer preference for lavishness, high standard of living, and a rise in the sale of premium vehicles are flourishing the demand for vehicle roadside assistance services in the region. Furthermore, North American roadside vehicle assistance market growth is also high owing to the rising number of aging vehicles and adverse weather conditions in several areas.

Markets in the Europe region are expected to account for the largest share in the years to come owing to the speedy growth of the automobile sector, rising sales of vehicles across the region, preferences of individuals for improvidence, and growth in sales of luxury vehicles in this region.

Some of the noticeable market participants in the vehicle roadside assistance market include:

• Viking Assistance Group AS
• ARC Europe SA
• Swedish Auto
• SOS International A/S
• Allianz Global Assistance
• Falck A/S
• Allstate Insurance Company
• AAA
• Agero, Inc.
• Best Roadside Service
• AutoVantage
• Roadside Masters
• Paragon Motor Club
• Good Sam Enterprise, LLC
• Access Roadside Assistance
• Better World Club
• Emergency Road Services Corporation
• Honk technologies
• National General Insurance
• span wings
• LY INC.
• Twenty Four OTR Pvt Ltd
• TVS Auto Assist India Limited
• ASSURANT, INC.
• RESCUE Vehicle Services Private Ltd.
• Emirates Insurance Co. (PSC)
• CHUBB LIMITED
• Prime Assistance Inc.
• Arabian Automobile Association

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Segments Covered in the Report

The global vehicle roadside assistance market analyzes and predicts report market size and its growth trend at global, regional, and country levels. This research study also offers assessment of the cutting-edge trends in all of the market sub-segments from 2016 to 2027. In order to provide comprehensive analysis this research report segments market on the basis of service, provider, vehicles, and region:

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

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Why should you invest in this report?

If you are aiming to enter the global Vehicle Roadside Assistance market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Vehicle Roadside Assistance market are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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