Published: Jun, 2019
The global vehicle roadside assistance market is anticipated to exhibit positive growth in coming years, according to a Transparency Market Research (TMR) study. Featuring a fragmented competitive landscape, a large pool of vendors in present in the global vehicle roadside assistance market. Car manufacturers are suppliers of roadside aid for cars. The majority of new cars sold in a number of advanced nations obtain roadside assistance assured. Different light commercial vehicles are covered by vehicle producers for roadside assistance. Thus vendors in the global roadside assistance market are expected to offer competitive services in order to stay afloat in the industry.
Key strategies adopted by vendors in the global vehicle roadside assistance includes offering best possible range of products and services to gain consumer attention. For instance, recently Volvo announced free towing of broken down Volvo vehicles of any make or age. Termed as ‘Tow for Life’, the manufacturer will guide the user to the nearest Volvo dealership or repair workshop. Such alluring offers are expected to be leveraged by vendors in the global roadside assistance market.
TMR predicts the global vehicle roadside assistance market to rise at a 4% CAGR over the forecast period from 2019 to 2027.
Burgeoning Automobile Production Supports Market Growth
In 2016, the United States recorded a total sales of 6.9 million vehicles. In 2018, it is estimated that 81 million vehicle units will be sold. Today, due to enhanced demand, particularly in Asian markets, the quantity of automobiles sold back to the pre-crisis levels. This growth in car manufacturing and global sales has also resulted in jams, highway collisions and car crashes. This makes it compulsory for governments as well as non-governmental organizations to assist car owners or drivers on the roadside.
In several countries, cold weather, snowy land or slopes has also caused road deaths, and governments have been required to take steps such as providing drivers help on the roadside of vehicles in such harsh environments. This is one of the primary factors driving the global vehicle roadside assistance market in forthcoming years.
High Per Capita Income, Technological Know How to Fuel Market
After the end of their warranty cover, customers prefer to acquire roadside assistance and thus the segment has dominated market share. There is a significant resumption of passenger cars. Different light business cars, including those produced by Ford and General Motors, are covered by road support from automobile makers. This is a leading factor contributing to the growth of the global vehicle roadside assistance market.
Furthermore, the development of the network coverage for roadside assistance, through application-based services, has also resulted to an increase in services availability, eliminating the strain and complexity of roadside support, boosting the global vehicle roadside assistance market in turn. Modern instruments enable dashboards smart instruments for configurable and real-time reporting that provide live event monitoring, trends, key metrics, and complete dispatch information. These capacities ensure client experiences are kept in the loop by distributors and retailers, as necessary, to install and dispatch assistance. This is expected to amplify sales in the global vehicle roadside assistance market over the forecast period.
This review is based on TMR’s report titled, “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.”
The global vehicle roadside assistance market has been segmented as follows:
- Global Vehicle Roadside Assistance Market, by Service
- Tire Replacement
- Fuel Delivery
- Jump Start/Pull Start
- Lockout/ Replacement Key Services
- Battery Assistance
- Trip Routing/ Navigational Assistance
- Other Mechanic Services
- Global Vehicle Roadside Assistance Market, by Provider
- Auto Manufacturer
- Motor Insurance
- Independent Warranty
- Automotive Clubs
- Global Vehicle Roadside Assistance Market, by Vehicle
- Passenger Vehicle
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Global Vehicle Roadside Assistance Market, by Region/ by Country/ Sub-region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- North America
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