The Automobile Towing industry is chugging along. The economy continued to improve over the five years to 2016, leading to a decline in the unemployment rate and an increase in total vehicle miles. As individuals returned to work and disposable income started to rise, more consumers felt comfortable driving on their own as opposed to carpooling or taking public transportation. When more cars are on the road, the chances of an accident or need for roadside assistance rises, increasing demand for industry services. Over the five years to 2021, revenue will continue to trend higher. Newer vehicles are often equipped with accident avoidance technologies that reduce the need for automobile towing. However, drivers who purchase newer cars will still rely on industry services when vehicle problems arise.
This industry tows light or heavy motor vehicles over short and long distances. Establishments may provide incidental services, such as storage and emergency road repair services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.