Global Car Towing Service Market by Tow Vehicle Type and by Service Provider - Global Forecast to 2030
The report "Car Towing Service Market by Tow Vehicle Type (Integrated Tow Truck, Wheel Lift Tow Truck, Flat Bed Tow Truck and Hook and Chain Tow Truck), by Service Provider (Motor Insurer, Automotive Club, Auto Manufacturer and Independent Warranty Provider) - Global Forecast to 2030", market is expected to witness CAGR of 4.8% during the forecast period. Increasing digitalization process in the automobile domain along with technological upgradation are the key trends observed in the global car towing service market. Extensive development in the shared mobility market is enabling new entrants to provide customers with one stop solution and book and pay for services for all modes of transport globally. This disruption of technology along with rapid evolution of mobility ecosystem is bolstering the growth of global car towing service market.
By tow vehicle type, the flat bed tow truck segment is projected to witness highest CAGR during the forecast period.
Based upon tow vehicle type, the car towing service market is subdivided into integrated tow truck, wheel lift tow truck, flat bed tow truck and hook and chain tow truck. The flat bed tow truck segment is projected to witness highest CAGR during the forecast period as among the service providers these are most popular. These tow trucks provide lowest risk of towing a vehicle as once the vehicle is secured on the flat bed the vehicle can be transported without any further damage.
Global Car Towing Service Market Segmentation Analysis
|
Segment |
Categorization |
Leading Category |
|
Tow Vehicle Type |
Integrated Tow Truck, Wheel Lift Tow Truck, Flat Bed Tow Truck and Hook and Chain Tow Truck |
Flat Bed Tow Truck (Fastest) |
|
Service Provider |
Motor Insurer, Automotive Club, Auto Manufacturer and Independent Warranty Provider |
Motor Insurer (Fastest) |
|
Region |
North America, Europe, Asia-Pacific, and Rest of the World |
Europe (Largest) Asia-Pacific (Fastest) |
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“Europe to hold the largest regional market share in 2022.”
Europe had a large market share in terms of sales in 2022. This share is attributed towards presence of key automobile manufacturers in the region that are rampantly emphasizing their efforts towards product development.
Some of the major players in the global car towing service market include AA PLC, RAC Motoring Services, Falck Danmark A/S, Allianz Partners SAS, Access Roadside Assistance, Agero Inc, National General Insurance, SOS International, ARC EUROPE SA, Viking Assistance Group, and THE ALLSTATE CORPORATION.
Scope of the Report
|
Report Metric |
Details |
|
Market Size Available for the Years in the Study |
2018–2030 |
|
Historical Period |
2018–2022 |
|
Base Year |
2022 |
|
Forecast Period |
2023–2030 |
|
Segments Covered in the Study |
Tow Vehicle Type, Service Provider, and Region |
|
Geographies Covered in the Study |
North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.) |
|
Companies Covered in the Study |
AA PLC, RAC Motoring Services, Falck Danmark A/S, Allianz Partners SAS, Access Roadside Assistance, Agero Inc, National General Insurance, SOS International, ARC EUROPE SA, Viking Assistance Group, and THE ALLSTATE CORPORATION |
Global Car Towing Service Market Coverage
Tow Vehicle Type Insight and Forecast 2018-2030
- Integrated Tow Truck
- Wheel Lift Tow Truck
- Flat Bed Tow Truck
- Hook and Chain Tow Truck
Service Provider Insight and Forecast 2018-2030
- Motor Insurer
- Automotive Club
- Auto Manufacturer
- Independent Warranty Provider
Geographical Segmentation
Car Towing Service Market by Region
North America
- By Tow Vehicle Type
- By Service Provider
- By Country – U.S., Canada, and Mexico
Europe
- By Tow Vehicle Type
- By Service Provider
- By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific (APAC)
- By Tow Vehicle Type
- By Service Provider
- By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
Rest of the World (RoW)
- By Tow Vehicle Type
- By Service Provider
- By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries