ALBANY, New York, May 24, 2019 /PRNewswire/ -- The global vehicle
roadside assistance market features an extremely fragmented vendor
landscape due to the presence of a large number of players in the
vehicle roadside assistance market. ARC Europe SA, SOS
International A/S, Viking Assistance Group AS, Falck A/S, and
Swedish Auto are some of the key players in the global vehicle
roadside assistance market. Additionally, some of the other
important players in the global market are AAA, Agero, Inc.,
AutoVantage, Allstate Insurance Company, Paragon Motor Club, and
Best Roadside Service.
Regionally, the booming sales in Europe have boosted the number of vehicle
crashes and need for assistance on the roadside vehicles. The
vehicle roadside assistance market in Europe and North
America is propelled by the presence of robust opportunities
to the roadside assistance services providers. Thanks to this
factor, Europe accounted for a
leading share of 38.67% in the overall vehicle roadside assistance
market and the region is expected to expand at a CAGR of 3.86%
during the forecast period of 2019 to 2027. However, the growing
capita income, consumer preferences for luxuries cars has led to an
increase in car sales in the developing countries in the
Asia Pacific, which is boosting
the need for roadside assistance. This is a major factor
responsible for the growth of the region at a most lucrative growth
rate in the forecast period.
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Need for High Maintenance to Aging Vehicles Boosts Market
Growth
The global vehicle roadside assistance market is gaining
traction on the back of an increase in the number of older
vehicles. These vehicles increasingly need care and attention, as
they are likely to witness a large number of breakdown and face
numerous mechanical & electric issues. This, in turn, boosts
demand for the vehicle roadside assistance services and propels
growth of the market. Thus, TMR estimates that the market is likely
to attain a value of US$32 Bn by end
of 2027 by expanding at a CAGR of 4% over the forecast period.
Moreover, adoption of the app-based services is leading to a
significant reduction of response time to the vehicles require
roadside assistance services. This, in turn, is fuelling growth of
the global vehicle roadside assistance market. Furthermore, extreme
weather change affects numerous roadside assistance globally
precisely the cold weather. Due to the sudden temperature lowering
and frigid air, the vehicles experience breakdown and
dysfunctioning of electrochemical reactions in vehicles batteries
of vehicles. This also reduces the driving conditions and increases
the risk of road accidents substantially. This, in turn, is driving
growth for vehicle roadside assistance services market.
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High Cost of Service to Pose as a Challenge to Market
Growth
However, the high cost of the vehicle roadside assistance
service such as pay per use is a major factor hampering growth of
the global vehicle roadside assistance market. Additionally, the
cost and payment for the labor and service charge are higher as the
plans and memberships are presently based on pay per use service.
Further, each company has their own plan, type of assistance, and
terms and conditions. Lack of knowledge of these terms and
conditions and confusion over plans may pose as a challenge to the
growth of the global vehicle roadside assistance market.
Nonetheless, expansion of these services across developing
countries is expected to offer lucrative opportunities for growth
of the global vehicle roadside assistance market.
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This information is encompassed in the report by TMR, 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."
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For the study, the global Vehicle Roadside Assistance Market
has been segmented as follows:
Service
- Towing
- Tire Replacement
- Fuel Delivery
- Jump Start/Pull Start
- Lockout/ Replacement Key Services
- Winch
- Battery Assistance
- Trip Routing/ Navigational Assistance
- Other Mechanic Services
Provider
- Auto Manufacturer
- Motor Insurance
- Independent Warranty
- Automotive Clubs
Vehicle
- Passenger Vehicle
- Commercial Vehicle
-
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Geography
- North America
-
- Europe
-
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- Australia
- India
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East &
Africa
-
- South Africa
- Saudi Arabia
- Rest of Middle East &
Africa
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