Automobile Towing in the US
The Automobile Towing industry is chugging along. The economy has continued to improve over the five years to 2019, leading to a decline in the unemployment rate. With more people employed, a higher volume of people traveling to work have opted to drive, increasing total vehicle miles. Rising disposable incomes have also made consumers more comfortable driving on their own as opposed to carpooling or taking public transportation. More cars on the road mean higher chances of an accident or need for roadside assistance. However, economic improvements and rising consumer confidence encourage consumers to purchase newer, more safety-equipped vehicles. Newer vehicles break down less frequently than old vehicles, which decreases the need for towing services. Over the five years to 2024, revenue will continue to trend upward. 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. Increased vehicle complexity will support this trend.
This industry tows light or heavy motor vehicles over short and long distances. Industry establishments may also 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.
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