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  • 17 May 2019 22:41

Vehicle Roadside Assistance - Market Study

The global Vehicle Roadside Assistance market size is estimated to reach the market value around USD 29 billion by 2026 and rising at a 3.8 % CAGR over the forecast time frame 2019-2026.

Towing services are becoming increasingly demanding as vehicles are becoming more complex and more electronic integration becomes difficult on the spot to repair. Collision or disruption towers constitute the most important request for emergency aid. In 2018, the towing segment was a major part of the global roadside assistance market for vehicles. In addition, battery assistance is required for vehicles older than 5 years. The market segment of battery assistance is expected to increase the adoption of road side assistance for aging vehicles and sales of hybrid and battery electric vehicles. The leading providers of roadside assistance for vehicles are car manufacturers. Most new vehicles sold in several developed countries are guaranteed to receive roadside aid. The roadside assistance coverage of vehicles produced in Honda after 2015 is 3 year/ 36,000 mile. Similar plans for new vehicles ranging from 2 to 7 years are being made by car makers such as Hyundai, Toyota, General Motors, Ford and Mitsubishi. Thus it is anticipated that during the forecast period the car manufacturer sector of the world vehicle side assistance market will dominate. Motor insurance companies are the major service providers, but because of their low premium charges, they represent a relatively small market share in terms of revenue.

Passenger Segment Held the Prime Share in 2018

A large portion of the global vehicle roadside assistance market was held in the passenger car sector. Customers prefer to purchase roadside aid after the end of their warranty cover and thus the segment held a dominant market share.

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.

View more information@ https://www.acumenresearchandconsulting.com/vehicle-roadside-assistance-market

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