PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515612
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515612
Asia Pacific Roadside Assistance Market size was valued at USD 6,998.42 million in 2023, expanding at a CAGR of 7.10% from 2024 to 2032.
Roadside assistance is a valuable service that is available to drivers who may experience a breakdown or emergency while on the road. This service provides prompt and professional assistance to drivers whose vehicles encounter problems that hinder their ability to continue their journey. Roadside assistance can be obtained through membership or as an additional feature to your car insurance policy. It offers peace of mind and aid in the event of an unforeseen breakdown. These services are designed to offer help and support in situations such as a flat tire, dead battery, or other malfunctions that may impede the proper functioning of your vehicle. Whether it involves dispatching a tow truck or sending a mechanic to your location, roadside assistance is there to help resolve the issue efficiently.
Asia Pacific Roadside Assistance Market- Market Dynamics
O A growing number of car owners and an increase in convenience and safety among automobiles are expected to drive the growth of the market
The increasing number of car owners in the Asia Pacific region has led to a higher demand for reliable roadside assistance services. This is particularly evident in the significant growth of automobile and motorcycle ownership in the region, with an estimated 183 million units of automobiles and 580 million units of motorcycles by the end of 2022. The easing of social restrictions due to the pandemic and the improved supply of semiconductors are believed to have contributed to this growth. As a result, car owners are increasingly seeking comprehensive roadside assistance plans to ensure their safety and convenience. Additionally, the expanding logistics and transportation sector presents new opportunities for the market, although limited infrastructure in remote areas may pose a challenge to its growth.
Asia Pacific Roadside Assistance Market- Key Insights
v As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.10% over the forecast period (2024-2032)
v Based on Service segmentation, Battery Assistance was predicted to show maximum market share in the year 2023
v Based on Vehicle Type segmentation, Commercial Vehicles was the leading type in 2023
v Based on Provider segmentation, OEM was the leading type in 2023
v Based on countries, China was the leading revenue generator in 2023
The Asia Pacific Roadside Assistance Market is segmented based on Service, Vehicle Type, Provider, and Country.
The market is segmented into eight categories according to Service: Towing, Tire Replacement, Fuel Delivery, Jump Start & Pull Start, Battery Assistance, Lockout & Replacement Key Service, Trip Routing & Navigational Assistance, Winch, and Others. Battery Assistance holds the largest share in the market. The importance of battery assistance services is evident as the number of vehicles continues to rise, leading to frequent battery-related problems. This category encompasses services such as battery jump-starts, battery replacements, and battery diagnostics.
The market is segmented into two groups according to Vehicle Type: Passenger Vehicles and Commercial Vehicles. Commercial Vehicles hold a significant share of the market. Commercial vehicles, such as trucks, buses, and delivery vans, necessitate tailored roadside assistance services because of their size, usage characteristics, and operational needs.
The market is segmented into four categories according to Provider: Motor Insurance, Independent Service Provider, OEM, and Others. The OEM sector holds the largest market share. OEMs are progressively incorporating roadside assistance services into their vehicle sales offerings to improve customer satisfaction and loyalty.
Asia Pacific Roadside Assistance Market- Geographical Insights
The examination of the Asia Pacific Roadside Assistance market covers countries like India, China, South Korea, Japan, Australia, Thailand, Indonesia, and the Philippines, in addition to the rest of the Asia Pacific (APAC) region. China dominates the Asia Pacific Roadside Assistance market, primarily driven by the increasing use of electric vehicles which require specialized roadside assistance services. With the expanding use of EVs in China, there is a growing demand for specialized roadside assistance services that cater to the specific needs of EVs, including mobile charging support and towing services for electric vehicles.
The competitive landscape of the Asia Pacific Roadside Assistance Market is intense, as multiple players are vying to provide thorough and dependable services to gain a larger market share. This competition involves a variety of service providers, such as OEMs, independent service providers, insurance companies, and specialized roadside assistance firms. By establishing strategic partnerships with automotive manufacturers, insurance companies, and other service providers, companies can broaden their service networks and provide comprehensive packages. These companies are diversifying their service offerings to encompass a broad spectrum of assistance services, ranging from towing and fuel delivery to battery assistance and on-site repairs.
v General Motors' OnStar has unveiled a fresh brand image, marking the dawn of a new era in defining safety and security for its Members and the community. In a constantly evolving world, the concept of safety evolves as well. With over 25 years of experience as a safety pioneer, OnStar is once again pioneering to ensure that safety remains within reach for everyone.
v Chubb Malaysia recently launched a pair of innovative digital offerings: the Chubb Claims Centre, an online tool designed to streamline the processing of travel, accident, and medical claims, and MY Chubb Motor Assist, a digital roadside assistance service tailored for motor insurance policyholders.
ASIA PACIFIC ROADSIDE ASSISTANCE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
O Allstate Insurance Company
O Falck A/S
O General Motors
O Paragone Motor Club, Inc.
O SOS Internation A/S
O Viking Assistance Group
O Chubb Limited
O Prime Assistance Inc.
O Others
ASIA PACIFIC ROADSIDE ASSISTANCE MARKET, BY SERVICE - MARKET ANALYSIS, 2019 - 2032
O Towing
O Tire Replacement
O Fuel Delivery
O Jump Start & Pull Start
O Battery Assistance
O Lockout & Replacement Key Service
O Trip Routing & Navigational Assistance
O Winch
O Others
ASIA PACIFIC ROADSIDE ASSISTANCE MARKET, BY VEHICLE TYPE- MARKET ANALYSIS, 2019 - 2032
O Passenger Vehicles
O Commercial Vehicles
ASIA PACIFIC ROADSIDE ASSISTANCE MARKET, BY PROVIDER - MARKET ANALYSIS, 2019 - 2032
O Motor Insurance
O Independent Service Provider
O OEM
O Others
ASIA PACIFIC ROADSIDE ASSISTANCE MARKET, BY COUNTRY- MARKET ANALYSIS, 2019 - 2032
O India
O China
O South Korea
O Japan
O Australia
O Thailand
O Indonesia
O Philippines
O Rest of APAC
Asia Pacific Roadside Assistance Market - By Vehicle Type