According to a new report, published by KBV research, The Global Roadside Assistance Market size is expected to reach $41.2 billion by 2030, rising at a market growth of 5.1% CAGR during the forecast period.
The Tire Replacement segment is registering a CAGR of 4.2% during (2023 - 2030). With more vehicles on the road, the probability of tire-related issues such as flats or blowouts rises. Higher traffic density amplifies the need for immediate tire replacement services. The growing demand for tire replacement services within the roadside assistance market is driven by the need for immediate solutions to tire-related issues, emphasizing convenience, safety, and professional service providers' expertise in swiftly and efficiently addressing these emergencies.
The Passenger Vehicles segment is leading the Global Roadside Assistance Market by Vehicle in 2022; thereby, achieving a market value of $28.2 billion by 2030. The combination of vehicle ownership trends, technological complexities, urbanization, consumer expectations for convenience, and a growing awareness of safety and support services collectively contribute to the escalating demand for roadside assistance services within the passenger vehicle segment. This trend will continue as vehicle ownership and reliance on personal transportation persist.
The Independent Service Provider segment would exhibit a CAGR of 5.7% during (2023 - 2030). The rising demand for independent service providers in the roadside assistance market is driven by their ability to offer specialized, agile, customer-focused services, providing an alternative to the offerings of larger corporate entities. Their flexibility, local presence, cost-effectiveness, and dedication to customer satisfaction contribute to their increasing relevance and competitiveness within the market.
Full Report: https://www.kbvresearch.com/roadside-assistance-market/
The Europe region dominated the Global Roadside Assistance Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $13.6 billion by 2030. The North America region is experiencing a CAGR of 4.9% during (2023 - 2030). Additionally, The Asia Pacific region would showcase a CAGR of 5.6% during (2023 - 2030).
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