The vehicle roadside assistance market is expected to surpass $38.4 billion by 2032.

From GlobeNewswire: 2024-11-26 05:30:00

The vehicle roadside assistance market is expected to surpass USD 38.4 billion by 2032, driven by the increasing number of vehicles on the road. Factors like economic growth and urbanization contribute to a rise in vehicle ownership, leading to a higher demand for roadside services. The pandemic and urbanization trends further boost the need for assistance.

The transition to electric vehicles is reshaping the market, with specialized services for EVs becoming essential. Passenger cars currently dominate the market, accounting for 65% in 2023. Services like towing, tire replacement, and fuel delivery are crucial, with towing alone expected to generate over USD 12 billion by 2032 as breakdowns increase.

Europe and North America are key regions for roadside assistance, offering extensive networks of service providers and insurance companies. These regions are expected to remain leading markets due to high vehicle ownership and consumer protection focus. The market is evolving to meet the changing needs of vehicle owners, especially with the rise of electric vehicles and urbanization trends.



Read more at GlobeNewswire: Vehicle Roadside Assistance Market to cross $38.4 Bn by