Car Breakdown Recovery Services Market Outlook - 2027
Car breakdown recovery services are used to tackle and prevent the uncertainty of a vehicle. The car breakdown system helps to lift the vehicle to the service stations. The recovery of any vehicle, generally of commercial vehicles, from one place to another comes under the services offered by car breakdown recovery services. Recovery can take the form of general recovery, normally of broken-down vehicles, or a statutory recovery at the request. Increase in casualties and accidents of commercial vehicles across the globe is expected to boost the car breakdown recovery services market over the forecast period.
COVID-19 scenario analysis:
- The global pandemic caused by the novel coronavirus occurred when many developing economies and the automotive industry were hoping for recovery.
- The magnitude of the impact depends on the duration of ongoing lockdown and the impact caused by this pandemic on every country.
- When the automakers star their operations after the lockdown, it is expected to be an uphill struggle due to conditions to follow safety protocols such as body temperature scanning, social distancing, and ensuring high standards of sanitization.
- Shutting down operations was easier than reopening factories as companies need to manage complex synchronization issues, thereby increasing their initial costing.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis Increase in competition among automakers and rise in awareness among car owners drive the growth of the market.
Moreover, high cost of premium car services is expected to restrain the growth of the car breakdown recovery services market. Furthermore, increased demand for application-based technologies is expected to offer lucrative opportunities for market growth in the coming years.
The car breakdown recovery services market trends are as follows:
Increase in competition among automakers
Over the past decade, with many national and international players competing, customers now have more options to choose. This has increased their buying power and forced companies to come up with new technologies and advancement to attain a prominent position in the market. The services offered by the companies create a major impact on the sales of vehicles, which is estimated to further boost the car breakdown recovery services market.
Risie in awareness among car owners
Due to increased instances of car accidents, customers and insurance companies have forced automakers to introduce towing feature for their vehicles, which fosters the car breakdown recovery services market. Customers are keener about the after-service of the company once their vehicle faces any casualties. Moreover, limited life of some car engine or not being serviced for a long time bolsters the automotive market. Therefore, these factors are projected to fuel the growth of the car breakdown recovery services market in the coming years.
Key benefits of the report:
- This study presents the analytical depiction of the car breakdown recovery services market industry along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the car breakdown recovery services market share.
- The current market is quantitatively analyzed to highlight the car breakdown recovery services market scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the car breakdown recovery services market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Car Breakdown Recovery Services Market Report Highlights
Key Market Players
AutoVantage, Viking Assistance Group, SOS International, Allianz Global Assistance, Agero, ARC Europe, Falck, Allstate Insurance, Swedish Auto, Paragon Motor Club