The report provides analysis of global Vehicle Roadside Assistance market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Vehicle Roadside Assistance market is expected to grow around 3.8 % CAGR throughout the forecast period and reach value around 29 USD billion by 2026.
Roadside vehicle assistance is a service that helps a vehicle's driver in the event of a crash. Roadside aid for vehicles offers on site support, including on-site small electrical and mechanical repair, support of flat-tires, jump-start battery, lock-out and loss of keys, vehicle towing and fuel delivery service for drivers and vehicles with basic support. Car service professionals are trying to sort minor mechanical and electrical repairs and adjustments to ensure a vehicle can be driven again. Typical roadside problems such as dead batteries, flat tires, miss placed keys and other minor mechanical or electrical problems are common in all sorts of vehicles. Furthermore, cars over 10 years of age are twice as likely to end up on the roadside as new carriages and then have the odds of a tow quadrupling. When a vehicle collapses or has a road crash, the roadside support of a vehicle fixes the problem on the spot most of the time. When a car breaks down or has a crash, car support on the side of the road fixes the problem, mostly on the spot. Furthermore, the expansion of roadside assistance network coverage through app-driven services led to increased offerings of service and eliminated the stress and complexity of roadside assistance, which in turn drives the world roadside aid market in vehicles. In addition, the increased demand for services of roadside assistance is driving an increasing number of aging vehicles.
The world's roadside aid market is driven primarily by the increase in the number of aging vehicles which are more likely to be experienced with the collapse and several mechanical and electric problems. Moreover, the increase in application-based service installations resulted in a decrease in response time for roadside services, which in turn promotes the global roadside assistance market for vehicles. Extreme weather has an impact on the millions of drivers worldwide, particularly on cold weat when cold air causes electro-chemical reactions in vehicle batteries. Moreover, the icy and snowy terrain across several countries is resulting in treacherous driving conditions and the risk of fatal traffic accidents is rising. Increased car sales and worldwide registrations have also led to an increase in road deaths and vehicle disruption. Decreased interest rates on automobiles, easy financial availability with customized financial schemes and increased consumer per capita revenue are key drivers of vehicle sales and manufacturing. In turn, this is expected to boost the world roadside assistance market for vehicles during the period forecast.
A key factor in restricting the global vehicle roadside aid market is the higher cost of roadside assistance services during pay per usage. This is mainly attributable to labor and service charges that fall under membership plans, but are pay-per-use fees. All services are offered to the service provider as part of the Member States membership plan, which is significantly cost-effective, because the service is valid for one and more year.
The towing service segment accounts for a significant portion in terms of revenue generated in fiscal year 2018 of the global roadside assistance service automotive market. The most basic request for emergency route assistance involves collision or breakdown towing. The towing segment therefore held an important market share. There was a significant demand for assistance on car routes because of the tire substitution caused by tire explosion, puncture and inflation loss, jump start / pull start, battery support and key lock down / cutting services.
The car manufacturer segment dominated the global roadside aid market, which is primarily due to the increased preference for road aid services by car manufacturers as part of the guarantee. In many countries, vehicle support services are provided by several vehicle manufacturers, such as Honda. Various other car manufacturers such as General Motors, Hyundai, Toyota, Ford, and Mitsubishi are expected to provide vehicle owners with roadside assistance and, as a result, the automaker segment is expected to lead the global vehicle side road support market during the forecast period.
Passenger vehicles were a very attractive segment and held a significant proportion of the car's market in roadside aid worldwide in 2018. The main coverage of passenger vehicles is under free warranty of the car manufacturer and therefore accounts for a significant proportion. The segment Passengers ' Vehicles is followed by the segment Light commercial vehicle sub-segment. Furthermore, roadside assistance is purchased by truckers to avoid operational losses, thereby driving the market segment of heavy commercial vehicles.
A large number of on-road vehicles combined with a growth in Europe's sales have increased the number of vehicle crashes, which in turn boost the demand for assistance on roadside vehicles. The market of roadside assistance in Europe is driven by the presence of premium vehicle manufacturers and the availability of roadside assistance services providers. The vehicle assistance market in Europe is being fueled by the increase in per capita income, increased living standards, consumer preference for pricing and increased sales of premium vehicles. In North America, demand for services on roadsides is high, primarily due to unfavorable weather in several areas, the growing number of aging cars and the preference for car-makers ' roadside assistance. Furthermore, the Asia Pacific roadside assistance market is expected to grow at a fast pace during the forecast period, owing to the growing demand for cars in the whole region, coupled with increased revenues per capita and availability of service providers on the road.
Vehicle Roadside Assistance Market by Service
Vehicle Roadside Assistance Market by Provider
Vehicle Roadside Assistance Market by Vehicle
Global Vehicle Roadside Assistance Market, by Geography
The market research study on “Vehicle Roadside Assistance Market (By Service: Towing, Fuel Delivery, Jump Start/Pull Start, Lockout/ Replacement Key Services, Battery Assistance, Trip Routing/ Navigational Assistance, Winch, Tire Replacement, Other Mechanic Services; By Provider: Motor Insurance, Independent Warranty, Auto Manufacturer, Automotive Clubs; By Vehicle: Commercial Vehicle [Light Commercial Vehicle, Heavy Commercial Vehicle], Passenger Vehicle) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Vehicle Roadside Assistance market segments with market dynamics and their impact. The report provides insights on global Vehicle Roadside Assistance market by service, by provider, by vehicle and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Vehicle Roadside Assistance segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
Key Players & Strategies
The Vehicle Roadside Assistance market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Viking assistance group, AutoVantage, Best Roadside Service, Access Roadside Assistance, Paragom Motorclub, Roadside Masters, Viking Assistance Group AS, ARC Europe SA, and SO S International A / S, among others.
Companies engage in strategic alliances, including fusions and acquisitions, joint enterprises, partnerships and capacity expansion, to implement innovative technologies with capacity - building growth to cater for increasing industrial growth.