Vehicle Roadside Assistance Market size shall reach a value of $30,102 Million in 2027, growing with a CAGR of 3.8% during the forecast period of 2020 to 2027.
Vehicle roadside assistance market includes onsite electrical and mechanical repair, support of flat-tires, jump-start battery, lock-out, vehicle towing and fuel delivery service. Such a vast range of services and the lack of knowledge of drivers themselves to cater to the mechanical need of vehicles fuels the demand for vehicle roadside assistance market. Common roadside problems such as dead batteries, flat tires, misplaced keys and other minor mechanical or electrical problems are found in every vehicle. Furthermore, the innovation of apps on smartphones for ease of access to service providers has pushed the cases in need of service, shorter response time, elimination of stress of unavailability, and cut down the complexity of fixing by consumers themselves, which in turn drives the world roadside aid market in vehicles.
The increase in the number of ageing vehicles, that are cars over 10 years of age, which are more susceptible to face mechanical and electric problems has substantially contributed to the product market growth. Further, other factors include the rise in per capita income of consumers, lowering car loan interest rates, and greater availability of finance with tailor-made schemes which has led to a rise in number vehicles on road as well as the purchasing power of consumers for such assisting services. Car manufacturers also have developed a greater inclination towards roadside assistance tor their buyers. Furthermore, extreme weather affects millions of drivers such as rainfalls, icy and snowy terrain across several nations making driving conditions extremely risky with a high risk of road accidents. This primarily drives up the product market in such areas.
However, high cost of roadside assistance and lack of infrastructure in remote areas may restrict the growth over the coming years. To counter cost-related concerns, membership plans where the service is valid for one and more years instead of pay per use method is being widely adopted to benefit the market growth over the coming years.
Vehicle Roadside Assistance Market Growth and Trends
Roadside aid for vehicles offered to provide assistance, including on-site electrical and mechanical repair, jump-start battery, support of flat-tires, lock-out and loss of keys, vehicle towing, and fuel delivery service for drivers and vehicles with basic support is massive in demand especially with the exponential increase in vehicles on road. The market growth for roadside vehicle assistance is therefore very high. Moreover, cars that are more than 10 years old are more likely to end up on the roadside with some technical fault and then have the odds of a tow quadrupling. At times when a vehicle encounters a breakdown or collapses, the roadside assistance of a vehicle solves the problem instantly on the spot most of the time. In addition, the development of roadside assistance network coverage through app-driven services has resulted in increased offerings of service and eliminates the stress and complexity associated with roadside assistance, which in turn fosters the world roadside assistance market in vehicles. Extreme weather causes frequent impact on several drivers in several parts of the world, particularly when cold air leads to electro-chemical reactions in vehicle batteries. The icy and snowy terrain across many countries results in unfavourable driving conditions for which there is a rise in the risk of fatalities caused by traffic accidents. Reduced rates of interest on automobiles, financial availability with customized financial schemes, and rise in per capita revenue of consumers are major drivers of vehicle manufacturing, which in turn is remarkably boosting the roadside assistance market for vehicles globally.
One of the possible limiting factors that could be instrumental in causing hindrance to the global vehicle roadside assistance market is the increased cost of roadside assistance services during pay per usage, which can primarily be attributed to labour and service charges under membership plans but are pay-per-use fees.
Vehicle Roadside Assistance Market Competition
Key companies operating in this industry are AA, RACE, RAC, ADAC, International SOS, ANWB, ARC Europe Group, ACI, TCS, Green Flag and SOS 24h Europa.
• Vehicle Roadside Assistance Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Vehicle Roadside Assistance Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Tire Replacement
• Fuel Delivery
• Jump Start/Pull Start
• Lockout/ Replacement Key Service
• Battery Assistance
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Auto Manufacturers
• Motor Insurance Companies
• Independent Warranty
• Automotive Clubs
Country (Revenue, USD Million, 2020 - 2027)
• United States
• South Korea
• Rest of Asia Pacific
• Rest of Europe
• Rest of South America
Middle East and Africa
• Saudi Arabia
Vehicle Roadside Assistance Market Companies
• International SOS
• ARC Europe Group
• Green Flag
• SOS 24h Europa
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