Roadside Assistance Market Set to Hit $52.5 Billion by 2033, Fuelled by Growing Demand for On-Demand Mobility Services

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 5, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Roadside Assistance Market," The Roadside Assistance Market Size was valued at $31.9 billion in 2023, and is estimated to reach $52.5 billion by 2033, growing at a CAGR of 5.2% from 2024 to 2033.

The global roadside assistance industry is dominated by Asia-Pacific. Increase in demand for vehicles along with rise in per capita income drive the market growth. In addition, this region is the most attractive automotive market for numerous market players. Penetration of advanced driver assistance and electric vehicles have encountered significant automotive sales in the region and that in turn has increased the road assistance insurance services demand.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/5736

Furthermore, the growth of the market can also be attributed to the increasing road accidents and breakdowns, growing vehicle fleets, and rising demand for mobility solutions in Asia-Pacific. In addition, key players in India adopting various key strategies to drive the growth of the roadside assistance market.

The rise in the number of older vehicles with numerous electrical and mechanical problems is the major factor driving the growth of the roadside assistance market. In addition, the roadside assistance industry is growing since app-based services have sped up roadside help response times. Extreme weather conditions have an influence on many drivers throughout the world, especially in cold weather when battery power drains and battery jump starts are necessary. Further, icy and snowy driving conditions in some areas increase the occurrence of deadly traffic collisions, necessitating roadside vehicle assistance.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

● 𝐂𝐮𝐫𝐫𝐞𝐧𝐭 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 (𝟐𝟎𝟐𝟑): $31.9 billion
● 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐕𝐚𝐥𝐮𝐚𝐭𝐢𝐨𝐧 (𝟐𝟎𝟑𝟐): $52.5 billion
● 𝐂𝐀𝐆𝐑: 5.2% from 2024-2033

𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐓𝐲𝐩𝐞:
Towing
Tire Replacement
Fuel Delivery
Jump Start and Pull Start
Lockout/ Replacement Key Service
Winch
Battery Assistance
Trip Routing and Navigational Assistance
Others

𝐁𝐲 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫:
OEM
Motor Insurance
Independent Service Provider
Others

𝐁𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞:
Commercial Vehicles
Passenger Vehicles

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/5736

The towing segment to maintain its leadership status during the forecast period

Based on service, the towing segment held the highest market share in 2022, accounting for nearly one-third of the global roadside assistance market revenue and is estimated to maintain its leadership status during the forecast period. Towing is a crucial component of roadside assistance services. It involves the transportation of a disabled vehicle from its location to a designated repair facility or another desired destination. Towing services are typically provided when a vehicle cannot be immediately repaired on-site or is involved in an accident that renders it inoperable. The battery assistance segment is expected to register the highest CAGR of 6.8% from 2023 to 2032. Battery assistance is particularly valuable when drivers are stranded due to a dead battery, especially in situations where they are unable to start their vehicles or lack the necessary tools and knowledge to jump-start the battery themselves.

The others segment to maintain its leadership status during the forecast period

Based on provider, the others segment held the highest market share in 2022, accounting for more than one-thirds of the global roadside assistance market revenue and is estimated to maintain its leadership status during the forecast period. Other providers such as automotive clubs, rental car companies, unorganized players, and others offer specialized services or cater to specific segments of the market. They contribute to ensuring the safety and convenience of drivers by providing prompt and reliable assistance during roadside emergencies. The OEM segment is also projected to manifest the highest CAGR of 5.8% from 2023 to 2032. Original Equipment Manufacturers (OEMs) expected to play a significant role in the roadside assistance market by offering their own branded roadside assistance services to vehicle owners. Several OEMs such as Mercedes-Benz roadside assistance, Toyota roadside assistance, Ford roadside assistance, and BMW roadside assistance actively participate in the roadside assistance market by providing their own branded services.

The passenger vehicle segment to maintain its leadership status during the forecast period

Based on vehicle, the passenger vehicle segment held the highest market share in 2022, accounting for nearly two-thirds of the global roadside assistance market revenue and is estimated to maintain its leadership status during the forecast period. Roadside assistance services are designed to provide convenience, safety, and peace of mind to passenger vehicle owners, ensuring they have access to timely and professional assistance in unexpected situations. The commercial vehicle segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. Roadside assistance provides financial protection to commercial vehicles and covers the business from any losses and damages.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around one-third of the global roadside assistance market revenue. The increase in road accidents and vehicle fleet expansions, as well as the increased need for mobility solutions, are the contributing factors that drive the growth of the roadside assistance market in the Asia-Pacific region. Europe is expected to witness the fastest CAGR of 5.7% from 2023 to 2032 on account of factors such as surge in awareness among consumers about road safety and rise in demand for roadside assistance services by commercial vehicle owners across major countries including the UK, Germany, France, and others.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/roadside-assistance-market/purchase-options

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

Agero
Allianz Global Assistance
Allstate Insurance Company
ARC Europe SA
AutoVantage
Falck A/S
Paragon Motor Club
Roadside Transportation LLC
SOS International
Viking Assistance Group AS

The report provides a detailed analysis of these key players of the global roadside assistance market. These players have adopted strategies such as new product launches to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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