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Vehicle Roadside Assistance Market Size

Report ID: GMI11838
Published Date: Oct 2024
Report Format: PDF

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Vehicle Roadside Assistance Market Size

The global vehicle roadside assistance market size was valued at USD 26.3 billion in 2023 and is projected to grow at a CAGR of 4.4% between 2024 and 2032. The increase in vehicle ownership is driving higher demand for roadside assistance services. More vehicles on the road mean more breakdowns and accidents. The International Organization of Motor Vehicle Manufacturers (OICA) reported about 92.7 million vehicles worldwide in 2023. This number is expected to rise significantly by 2040 due to economic growth, urbanization, and a growing middle class in emerging economies.

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The COVID-19 pandemic has changed commuting habits, with many people now relying more on personal vehicles, increasing the need for roadside help. Urban migration also boosts the demand for convenient transportation. The United Nations estimates that by 2050, nearly 68% of the global population will live in urban areas, leading to more vehicle purchases and a higher demand for roadside assistance services.

Vehicle Roadside Assistance Market Report Attributes
Report Attribute	Details
Base Year:	2023
Vehicle Roadside Assistance Market Size in 2023:	USD 26.3 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.4%
2032 Value Projection:	USD 38.4 Billion
Historical Data for:	2021 – 2023
No. of Pages:	200
Tables, Charts & Figures:	160
Segments covered:	Service, Vehicle, Provider, Service channel
Growth Drivers:	Increasing vehicle ownership Rising technological advancements Increasing shift to electric vehicles
Pitfalls & Challenges:	High operational costs Competition from insurance providers

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Additionally, a 2023 Statista report showed that plug-in electric light vehicle (PEV) sales reached about 13.7 million units, indicating a strong shift toward electric mobility. The Chinese automotive market has bounced back after a slowdown in 2020 due to the pandemic, showing its resilience.

In Europe, electric vehicle sales surged in 2023 across the five largest markets, reflecting a global move towards sustainable transportation. This shift changes the types of services needed, especially for electric vehicles, and highlights the need for comprehensive roadside assistance for a diverse range of vehicles. With rising vehicle ownership and new vehicle technologies, the demand for reliable and efficient roadside assistance services is expected to grow significantly in the coming years.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of vehicle roadside assistance reached USD 26.3 billion in 2023 and is set to grow at a 4.4% CAGR from 2024 to 2032, driven by increasing vehicle ownership.

The passenger cars segment held 65% of the market share in 2023, led by the high number of passenger vehicles on the road and increased use for daily commutes post-COVID-19.

The U.K. market accounted for 30% of the revenue share in 2023, bolstered by a strong network of automotive services and high demand for roadside assistance.

Major players in the industry include AA PLC, Agero, Allstate Insurance, American Automobile Association, ARC, GEICO, Liberty Mutual Insurance, MAPFRE-ASISTENCIA, National General Motor Club, and Nissan Motor.