ALBANY, New York, June 17, 2020 /PRNewswire/ -- Vehicle breakdown on the road is a common occurrence and this keeps the market for roadside assistance buoyant. Additionally, with an increase in production of automobiles, the demand for it would increase further. From 2019 to 2027, the global vehicle roadside assistance market would grow at a rate of 3.96%, compounded annually.
As per Transparency Market Research, "The market is driven forward by increasing number of ageing vehicles on the road in a major way. Additionally, technological development has paved way for better response time, pushing up demand for these services massively."
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Key Findings of Global Vehicle Roadside Assistance Market Study:
- In 2018, the passenger vehicle segment was immensely lucrative and over the forecast period, the trend is set to continue
- Major reason that will be attributed to the claim of the segment to notable market share is free warranty that comes with passenger vehicles
- Owing to truckers opting for road side assistance, heavy commercial vehicle segment is also set to drive demand in the market notably
- The towing service segment is expected to contribute significantly to growth in the global vehicle roadside assistance market in terms of revenue
- Auto manufacture segment to dominate the provider category over the forecast period
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on Vehicle Roadside Assistance Market (Service - Towing, Tire Replacement, Fuel Delivery, Jump Start/Pull Start, Lockout/ Replacement Key Service, Winch, Battery Assistance, Trip Routing/ Navigational Assistance, Other Mechanic Service; Provider - Auto Manufacturer, Motor Insurance, Independent Warranty, Automotive Clubs; Vehicle - Passenger Vehicle, Commercial Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/vehicle-roadside-assistance-market.html
Key Drivers of Growth in Global Vehicle Roadside Assistance Market:
Transparency Market Research notes a number of prominent growth factors in the global vehicle roadside assistance market landscape. Some of the prominent ones are outlined below:
- Marked increase in old vehicles is a major growth propeller in the market; these are susceptible to breakdowns and are in need of frequent maintenance runs
- Production and sales of automobiles promises growth to the global vehicle roadside assistance market
- Harsh terrains, and regions that experience severe climatic conditions also drive demand for vehicle roadside assistance
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Regional Growth in Global Vehicle Roadside Assistance Market:
- Europe to be at the forefront of growth in the global roadside assistance market over the assessment period owing to increase in vehicle registrations and sales
- Asia Pacific (APAC) region to provide lucrative growth opportunities to market players over the stated period owing to increase in ageing automotives
Analyze global vehicle roadside assistance market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Competitive Landscape of Global Vehicle Roadside Assistance Market:
The global vehicle roadside assistance market is highly competitive and the presence of a large number of players makes it fragmented. Top players are focused on tapping into new consumer bases and improvement in sales.
Some of the top players that are profiled by Transparency Market Research in the report prepared are ARC Europe SA, Viking Assistance Group AS, SOS International A/S, Swedish Auto, Falck A/S, Allianz Global Assistance, AAA, Agero, Inc., Allstate Insurance Company, AutoVantage, 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, and Prime Assistance Inc.
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The global Vehicle Roadside Assistance is segmented based on:
- Tire Replacement
- Fuel Delivery
- Jump Start/Pull Start
- Lockout/ Replacement Key Service
- Battery Assistance
- Trip Routing/ Navigational Assistance
- Auto Manufacturer
- Motor Insurance
- Independent Warranty
- Automotive Clubs
- Passenger Vehicle
- Commercial Vehicle
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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SOURCE Transparency Market Research