Vehicle Roadside Assistance Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

The global vehicle roadside assistance market was valued at USD 26.3 billion in 2023 and is expected to grow at a CAGR of 4.4% from 2024 to 2032. The rising number of vehicles on the road significantly boosts the demand for roadside assistance services. As vehicle ownership increases, so do incidents of breakdowns and accidents. In 2023, the global vehicle count reached 92.7 million, a figure set to rise substantially by 2040 due to factors like economic development, urbanization, and a growing middle class in emerging markets. Furthermore, the pandemic has shifted commuting trends, leading more people to rely on personal vehicles, further driving the need for roadside assistance. Urbanization is another key factor, with a United Nations report predicting that 68% of the world’s population will live in urban areas by 2050, leading to an increased demand for vehicles and, consequently, roadside services. The growing shift toward electric vehicles (EVs) is also shaping the market. With rising EV sales, particularly in leading global markets, the types of roadside services required are evolving, highlighting the need for specialized services for electric and hybrid vehicles. As the transportation landscape shifts toward sustainable mobility, the demand for reliable and comprehensive roadside assistance services is projected to rise. The market is divided into various services, including towing, tire replacement, fuel delivery, lockout/key replacement, and battery assistance. Towing accounted for over 30% of the market share in 2023 and is expected to generate more than USD 12 billion by 2032. As vehicle breakdowns become more frequent, the demand for towing services remains consistent. Whether due to mechanical failures or accidents, professional towing services are essential for moving vehicles to repair facilities, ensuring their significance in the roadside assistance market. In terms of vehicle types, passenger cars dominated the market with a 65% share in 2023. The rising number of personal vehicles on the road and growing consumer demand for safety and convenience drive the need for roadside assistance for passenger vehicles. Regionally, Europe and North America are key markets, with strong demand for roadside services, supported by extensive networks of automotive service providers and insurance companies offering these services as part of comprehensive plans. These regions are expected to remain leading markets due to high vehicle ownership and a strong focus on consumer protection. Show more