Vehicle Roadside Assistance Market By Service (Towing, Fuel Delivery, Jump Start/Pull Start, Lockout/ Replacement Key Services, Battery Assistance, Trip Routing/ Navigational Assistance, Winch, Tire Replacement, Other Services); By Provider (Motor Insurance, Independent Warranty, Auto Manufacturer, Automotive Clubs); By Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle, Passenger Vehicle); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2023-2032
Vehicle Roadside Assistance Market Overview and Definition
The global vehicle roadside assistance market size estimated for USD 22.9 billion in 2022 and it is projected to reach over USD 41.5 billion by 2032, poised to grow at a CAGR of 4.6% during the forecast period 2023 to 2032. Vehicle roadside assistance is defined as a service that helps a vehicle's driver in the event of a crash or any breakdown in the car. It includes both on-site small electrical and mechanical repair from vehicle towing, support of tires, fuel delivery services, lock out and loss of key, battery issues to the drivers and vehicles with basic support. These issues are very common in the vehicles so nowadays car service professionals are adapting such techniques so that the vehicle can be driven again and travel some distance. The main factor due to which such issues happens is the life of the vehicle. The vehicle which is more than 10 years such issues happens. The stress and complexity of roadside assistance associated is getting lowered due to the roadside assistance network coverage through app-driven services which will drive the market of vehicle roadside assistance Market.
Vehicle Roadside Assistance Market Drivers
The rise in the number of aging vehicles will drive the vehicle roadside assistance market. In case of any road event which happen accidentally then the service provider was not able to reach at that location. But this incapability was recovered due to the new technologies evolved with time. Nowadays application-based service installation is provided which lowers the response time for roadside services. Thus, creating the positive impact on the roadside assistance market for vehicles.
The roadside breakdown of vehicle is more in the extreme weather which create an impact on the drivers and vehicles globally particularly on cold weather when cold air causes electro-chemical reactions in vehicle batteries. Further, the icy and snowy terrain across several countries is resulting in treacherous driving conditions and the risk of fatal traffic accidents is rising. The rising sales of vehicles globally will increase the possibility of road deaths and vehicle breakdown. There is decreased in the interest rates on automobiles, easy financial services availability with compensation schemes are key drivers of vehicle sales and manufacturing. Due to these factors the global roadside assistance vehicle market will proliferate in the forecast period.
The high cost associated with this service is the restraining factor for the market. The charges taken by the professional service is depends based on labour cost and service charge. There is various member service plan offered by the company which gives some added benefit to the customer.
The towing service segment accounts for a significant revenue generated in the global roadside assistance service automotive market. In any emergency event the mostly called service is towing due to which this segment has the considerable share.In case of any issues in the car during the travel the car manufacturer provides the service with lower response time. Thus, the car driver gives preference to the auto manufacturer hence this segment dominating in the vehicle roadside assistance market.
Vehicle Roadside Assistance Market Segmentation
Vehicle Roadside Assistance Market by Service
- Fuel Delivery
- Jump Start/Pull Start
- Lockout/ Replacement Key Services
- Battery Assistance
- Trip Routing/ Navigational Assistance
- Tire Replacement
- Other Services
Vehicle Roadside Assistance Market by Provider
- Motor Insurance
- Independent Warranty
- Auto Manufacturer
- Automotive Clubs
Vehicle Roadside Assistance Market by Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Passenger Vehicle
Vehicle Roadside Assistance Market Regional Analysis
In 2019, more than 1 billion vehicles have seen sold globally. Out of these 70 percent of the sales are of passenger vehicles. Such increasing sales of automotive industry will create the demand for the vehicle roadside assistance in the near future. The rising on-road vehicle sales in Europe have increased the number of crashes, car breakdowns which will further drive the market of vehicle roadside assistance. The vehicle assistance market in Europe is being fuelled by the increase in per capita income, increased living standards, consumer preference for pricing, and increased sales of premium vehicles. The North America vehicle roadside assistance market is mainly increasing due to the unfavourable weather in several areas, the growing number of aging cars, and the preference for car-makers roadside assistance. Furthermore, the Asia Pacific roadside assistance market will surge during the forecast due to increase in vehicle accidents and mechanical issues in the passenger vehicles as well as commercial vehicles.
In Middle East and North Africa, more than two million vehicles were sold in 2019. The major sales in these regions are from Gulf Cooperation Council (GCC) countries including UAE. Iran is leading followed by Saudi Arabia and Israel in terms of passenger vehicles. Such factors will drive the vehicle roadside assistance market in the Middle East and North African region.
Few Prominent Players for Vehicle Roadside Assistance Market:
- ARC Europe SA,
- Viking Assistance Group AS,
- SOS International A/S,
- Swedish Auto, Falck A/S,
- Allianz Global Assistance,
- Agero, Inc.,
- Allstate Insurance Company,
- Best Roadside Service,
- Paragon Motor Club,
- Roadside Masters,
- Access Roadside Assistance,
- Good Sam Enterprise, LLC,
- Emergency Road Services Corporation,
- Better World Club,
- National General Insurance,
- Honk technologies,
- URGENT.LY INC.,
- span wings,
- TVS Auto Assist India Limited,
- Twenty Four OTR Pvt Ltd,
- RESCUE Vehicle Services Private Ltd.,
- ASSURANT, INC.
- CHUBB LIMITED,
- Emirates Insurance Co. (PSC),
- Arabian Automobile Association,
- Prime Assistance Inc.