Vehicle Roadside Assistance Market to Grow by USD 5.39 Bn | Rising Number of Accidents will Present Significant Growth Opportunities for Market Vendors | Technavio

By application, the passenger vehicle segment is expected to have significant market share growth during the forecast period. Passenger cars include variants that have internal combustion engines, as well as electric powertrain vehicles. The rising demand for these vehicles is expected to fuel the passenger car segment of the vehicle roadside assistance market during the forecast period. The high sales of premium-segment passenger cars, along with improved mileage and long-range capacity provided by electric vehicles, are also expected to drive the growth of the vehicle roadside assistance market.

By geography, Europe is expected to dominate the market, accounting for 34% of the market's growth during the forecast period. The UK and Germany are the key countries for the vehicle roadside assistance market in Europe. However, the growth rate of the market in Europe will be slower than the growth of the market in other regions. The rising number of aging vehicles and the increasing penetration of electric cars will drive the growth of the vehicle roadside assistance market in Europe during the forecast period.

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The vehicle roadside assistance market is expected to grow by USD 5.39 bn from 2020 to 2025, as per Technavio. The growth momentum of the market will accelerate at a CAGR of 5.02%. The year-over-year growth rate of the market in 2021 is 3.39%.

Read the 120-page report with TOC on "Vehicle Roadside Assistance Market Analysis Report by Application (passenger cars and commercial vehicles) and Geography (Europe, North America, APAC, MEA, and South America), and the Segment Forecasts,2021-2025".  

The market is driven by factors such as the rising number of accidents. With the increasing number of vehicles on the road, road accident injuries and fatalities have increased over the decade, which has raised the demand for towing and other roadside assistance services. This will drive the growth of the global vehicle roadside assistance market during the forecast period. However, the high cost of services may impede market growth.

Major Vehicle Roadside Assistance Companies:

• AA Ltd.
• Allianz Group
• ARC Europe SA
• Best Roadside Service
• Falck AS
• Generali Group
• Good Sam Enterprises LLC
• RAC Group (Holdings) Ltd.
• Sampo Plc
• The Allstate Corp.

For additional inputs about the vendors operating in the market, View Our Free Sample

Vehicle Roadside Assistance Market Application Outlook (Revenue, USD bn, 2020-2025)

• Passenger cars - size and forecast 2020-2025
• Commercial vehicles - size and forecast 2020-2025

Vehicle Roadside Assistance Market Geography Outlook (Revenue, USD bn, 2020-2025)

• Europe - size and forecast 2020-2025
• North America - size and forecast 2020-2025
• APAC - size and forecast 2020-2025
• MEA - size and forecast 2020-2025
• South America - size and forecast 2020-2025

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SOURCE Technavio