Increase in Aging Vehicles on the Road to Propel Growth in Roadside Assistance Market from 2019 to 2027: Transparency Market Research

Increase in Aging Vehicles on the Road to Propel Growth in Roadside Assistance Market from 2019 to 2027: Transparency Market Research

PR Newswire

ALBANY, New York, June 17, 2020

- The passenger vehicle and the towing service segments to lay claim to a sizeable share of the global vehicle roadside assistance market over the forecast period

- Increase in production of automobiles, and in installation of app-based services to drive significant growth. Asia Pacific and Europe to be lucrative markets

ALBANY, New York, June 17, 2020 /PRNewswire/ -- Vehicle breakdown on the road is a common occurrence and this keeps the market for roadside assistance buoyant. Additionally, with an increase in production of automobiles, the demand for it would increase further. From 2019 to 2027, the global vehicle roadside assistance market would grow at a rate of 3.96%, compounded annually.

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As per Transparency Market Research, "The market is driven forward by increasing number of ageing vehicles on the road in a major way. Additionally, technological development has paved way for better response time, pushing up demand for these services massively."

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Key Findings of Global Vehicle Roadside Assistance Market Study:

Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on 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 at https://www.transparencymarketresearch.com/vehicle-roadside-assistance-market.html 

Key Drivers of Growth in Global Vehicle Roadside Assistance Market:

Transparency Market Research notes a number of prominent growth factors in the global vehicle roadside assistance market landscape. Some of the prominent ones are outlined below:

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Regional Growth in Global Vehicle Roadside Assistance Market:

Analyze global vehicle roadside assistance market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Competitive Landscape of Global Vehicle Roadside Assistance Market:

The global vehicle roadside assistance market is highly competitive and the presence of a large number of players makes it fragmented. Top players are focused on tapping into new consumer bases and improvement in sales.

Some of the top players that are profiled by Transparency Market Research in the report prepared are ARC Europe SA, Viking Assistance Group AS, SOS International A/S, Swedish Auto, Falck A/S, Allianz Global Assistance, AAA, Agero, Inc., Allstate Insurance Company, AutoVantage, Best Roadside Service, Paragon Motor Club, Roadside Masters, Access Roadside Assistance, Good Sam Enterprise, LLC, Emergency Road Services Corporation, Better World Club, National General Insurance, Honk technologies, URGENT.LY INC., span wings, TVS Auto Assist India Limited, Twenty Four OTR Pvt. Ltd., RESCUE Vehicle Services Private Ltd., ASSURANT, INC., CHUBB LIMITED, Emirates Insurance Co. (PSC), Arabian Automobile Association, and Prime Assistance Inc.

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The global Vehicle Roadside Assistance is segmented based on:

Explore Transparency Market Research's award-winning coverage of the Global Automotive & Transport Industry:

On-demand Transportation Market – The market for on-demand transportation services is primarily driven by the lower middle class population owing to its low per capita income. Moreover, the market is expanding significantly in developing nations such as China and India. On-demand transportation services provide short-term ownership to consumers at significantly lower prices and hence, consumers prefer such transportation means instead of owning a vehicle. A privately owned vehicle is only utilized for up to 5% of its total life; it remains parked for 95% of its life in most cases.

Automotive Airbag Market – Road accidents are increasing and this is leading o stakeholders demanding for superior safety features in automobiles. And, this is therefore witnessing government intervention in the industry, mandating certain safety features in automobiles. This is the reason that over the forecast period of 2019 to 2027, the global automotive airbag market would grow at a significant pace.  The booming industry, along with technological advancement is leading to generation of a plethora of growth opportunities in the market and experts believe that the market players would leave no stone unturned to make the most of these.

Automotive Alloy Wheels Market – According to the report, the global automotive alloy wheels market is projected to reach US$ 24.3 Bn by 2027, expanding at a CAGR of ~6% during the forecast period. The global automotive alloy wheels market is expected to record a growth of ~6% owing to an increased demand for aesthetics appeal in vehicles. Alloy wheels are slowly replacing steel wheels, as they offer better heat dissipation, performance, and are lightweight.

Automotive Electric Actuator Market – According to the report, the global automotive electric actuator market is projected to surpass US$ 11.7 Bn by 2027, expanding at a CAGR of ~6% during the forecast period. Expansion of the global automotive electric actuator market is primarily due to rising investment by manufacturers for incorporation of safety features in their vehicles and change in regulatory norms for traffic safety and vehicle emission. The

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