Lane change: Improving conditions in the market for automobiles is expected to aid demand for vehicle usage, boosting industry growth
The Automobile Towing industry experienced favorable trends for much of the period of 2023. With the economy reopening as of 2021, vehicle usage has bounced back again, indicated by rising rates of vehicle miles and registrations over the same period, which has aided industry revenue. This industry provides essential services for municipalities and businesses to remove vehicles that violate parking ordinances and also provides roadside assistance for automobiles that break down. Due to these factors, industry revenue is set to decrease at a CAGR of 0.3% to $9.5 billion going into 2023. However, revenue is expected to increase 1.5% in 2023 alone. Similarly, industry profit, measured as earnings before interest and taxes, is set to account for 9.0% of industry revenue in 2023.
This industry tows light or heavy motor vehicles over short and long distances. Industry operators may also provide incidental services, such as storage and emergency road repair services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- United Road Towing Inc.
- All City Tow Service
- Shamrock Towing Inc.
- Lance Wrecker Service LLC
- McDonald's Towing & Rescue Inc.
- Reynolds Towing Service Inc.
- Arrow Wrecker Service Inc.
- Suburban Towing Inc.
- Roadone West Inc.
Methodology
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