$12.5bn
$X.Xbn
227k
165k
$X.Xbn
Over the past five years, automobile trucking services have been subject to shifts in population, traffic patterns and economic conditions. The COVID-19 pandemic initially reduced traffic, causing a dip in collisions. However, as populations recovered and resumed traveling, especially in lower-density areas, demand for towing services surged. Consumers have increasingly relied on personal vehicles as they have moved away from congested cities, and inflation-strained budgets have led them to put off maintenance. Industry revenue has been climbing at a CAGR of 2.4% to $12.5 billion by 2024. Revenue is expected to slump 0.1% in 2024 alone. Similarly, industry profit, measured as earnings before interest and taxes, is set to account for 9.2% of industry revenue in 2024.
Industry revenue has grown at a CAGR of 2.4 % over the past five years, to reach an estimated $12.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
United Road Towing, Inc. | 12.9 | 0.9 | 7.0 | |
All City Tow Service | 4.9 | 0.3 | 7.0 | |
Lance Wrecker Service LLC | 3.0 | 0.2 | 7.0 |
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Industry revenue is measured across several distinct product and services lines, including Passenger car towing , Commercial vehicle towing and Maintenance and roadside assistance . Passenger car towing is the largest segment of the Automobile Towing in the US.
Lessening traffic congestion is weakening demand for passenger towing
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.
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NAICS 48841 - Automobile Towing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Consumers are breaking down more often. Inflation has made it difficult for consumers to upgrade to newer, more reliable cars, leaving them reliant on automobile towing servi...
Learn about an industry's products and services, markets and trends in international trade.
Automobile towing agencies ensure cars comply with city ordinances. Towing services generate significant revenue through contracts with local and state law enforcement agenci...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Automobile towing services are distributed closely in line with the US population. The Southeast and West are especially populated, generating significant demand for towing s...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Internal competition is fierce, and towing services compete on punctuality, quality and price. Most clients are primarily concerned about how quickly tow trucks can arrive.
Learn about the performance of the top companies in the industry.
There are no major companies. Small, locally focused owner-operators make up the bulk of all automobile towing operations. Competition is fierce, and consolidation is rare.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Automobile towing services must follow federal, state and municipal laws. Regulations oversee equipment, driver certification, training, record-keeping and workplace safety a...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Automobile towing services must manage volatile fuel costs. Towing companies' bottom line is heavily impacted by fluctuating diesel costs, so they must appropriately impose f...
Including values and annual change:
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The market size of the Automobile Towing in the US industry in United States is $12.5bn in 2024.
There are 165k businesses in the Automobile Towing in the US industry in United States, which has grown at a CAGR of 1.2 % between 2019 and 2024.
The market size of the Automobile Towing in the US industry in United States has been growing at a CAGR of 2.4 % between 2019 and 2024.
Over the next five years, the Automobile Towing in the US industry in United States is expected to grow.
The biggest companies operating in the Automobile Towing market in United States are United Road Towing, Inc., All City Tow Service and Lance Wrecker Service LLC
Emergency road repair services and Motor vehicle towing services are part of the Automobile Towing in the US industry.
The company holding the most market share in United States is United Road Towing, Inc..
The level of competition is high and steady in the Automobile Towing in the US industry in United States.