The global vehicle roadside assistance market is expected to approach US$ 29.4 billion by 2030, with an annual growth rate of more than 4.1%
Wilmington, Delaware, Nov. 19, 2023 (GLOBE NEWSWIRE) — Global Vehicle Roadside Assistance Market is valued at US$ 22.2 billion in 2023 and is expected to grow at a significant CAGR of over 4.1% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
The growing number of vehicles on the road, including cars, trucks, and motorcycles, was driving the demand for roadside assistance services. As the vehicle ownership rates continued to rise, so did the need for assistance in case of breakdowns, flat tires, accidents, and other roadside emergencies. In addition, the integration of advanced technologies, such as telematics and GPS, into roadside assistance services was enhancing efficiency. These technologies allowed service providers to quickly locate and assist drivers in distress, improving response times and overall customer satisfaction.
Moreover, it has been observed that roadside assistance providers are forming partnerships with automotive manufacturers to offer bundled services. Some vehicles came with built-in roadside assistance programs as part of their warranty or service packages, further expanding the vehicle roadside assistance market.
- According to a deep-dive market assessment by RationalStat, the global vehicle roadside assistance market has been analyzed on the basis of market segments, including vehicle type, service, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global vehicle roadside assistance market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global vehicle roadside assistance market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Vehicle Roadside Assistance Market: Segmental and Market Share Analysis
- On the basis of service, battery assistance & jump start are anticipated to dominate the vehicle roadside assistance market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 22.2 billion |
| Market Size Forecast | US$ 29.4 billion |
| Growth Rate | 4.1% |
| Key Market Drivers | - Rising vehicle ownership
- Rising awareness associated with the use of vehicle roadside assistance services
- Rising collaborations between insurance service providers and OEMs
|
| Companies Profiled | - Honk
- Allstate Roadside Services
- Better World Club
- Agero, Inc.
- Paragon Motor Club
- National General Motor Club
- Good Sam Roadside Assistance
- AutoVantage
- Viking Assistance Group
- SOS International
- Assurant, Inc.
- RESCUE Vehicle Services Pvt. Ltd.
- Emirates Insurance Co (PSC)
- Chubb
|
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global vehicle roadside assistance market include,
- In February 2021, Honk entered into a partnership agreement with Driver Technologies, wherein Honk was entrusted with the administration of a co-branded roadside assistance program for Driver Technologies.
Some of the prominent players and suppliers operating and contributing significantly to the global vehicle roadside assistance market growth include Honk, Allstate Roadside Services, Better World Club, Agero, Inc., Paragon Motor Club, National General Motor Club, Good Sam Roadside Assistance, AutoVantage, Viking Assistance Group, SOS International, Assurant, Inc., RESCUE Vehicle Services Pvt. Ltd., Emirates Insurance Co (PSC), and Chubb, among others.
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RationalStat has segmented the global vehicle roadside assistance market based on vehicle type, service, and region
- Global Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Global Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Service
- Towing
- Tire Replacement
- Fuel Delivery
- Battery Assistance & Jump Start/Pull Start
- Others (Battery Assistance, etc.)
- Global Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Latin America Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Vehicle Roadside Assistance Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
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Key Questions Answered in the Vehicle Roadside Assistance Report:
- What will be the market value of the global vehicle roadside assistance market by 2030?
- What is the market size of the global vehicle roadside assistance market?
- What are the market drivers of the global vehicle roadside assistance market?
- What are the key trends in the global vehicle roadside assistance market?
- Which is the leading region in the global vehicle roadside assistance market?
- What are the major companies operating in the global vehicle roadside assistance market?
- What are the market shares by key segments in the global vehicle roadside assistance market?
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- Defining the problem by understanding the type of market and data required by the client.
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- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
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- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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