UK Vehicle Recovery market report
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Providing the most comprehensive and up-to-date information and analysis of the Vehicle Recovery market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Covered in this report
This report covers vehicle breakdown recovery services available to car owners, whether on a direct or indirect basis, as in the marketplace. The value of the vehicle recovery services market is made up of fees from memberships, paid either directly or indirectly, as well as revenue from the ad hoc sector.
Membership fees comprise any premiums paid to a vehicle or person is insured in the event of a breakdown. Fees can be paid either direct by the consumer to the recovery company or indirectly through an intermediary that will offer insurance to the consumer often as part of a bundle of services. The value of the ad hoc sector is revenue from motorists who are not members of an organisation and therefore use the services of a recovery operator – normally an independent – on an informal or ad hoc basis.
What you need to know
The vehicle recovery services market is valued by Mintel at £1.78 billion in 2018. While a mature market, growth has been steady in recent years assisted by an expanding car parc and a relatively buoyant economy. Although competition is ever present, there is some evidence that cost pressures are reducing interest from those at the margins of the market. Nevertheless, the share for the big three players (AA, RAC and Green Flag) is in decline. A second tier of companies such as Call Assist, Allianz, LV=/ Britannia and AXA are growing in importance. All have achieved success in disrupting the market through innovations in the type of policy offered and use of partnerships, as well as lower prices.
Current membership is around 30 million and has been expanding modestly given the maturity of the market. Nevertheless, Mintel’s research still notes that 16% of car owners currently do not have any cover. Efforts to attract those who do not hold membership have made little progress despite a number of different policy styles now being offered such as Pay As You Use and reclaim. Taken with the growth of comprehensive policies with restrictions, traditional comprehensive policies accounted for a reduced 70% of market value as of 2017.
Expert analysis from a specialist in the field
Written by Neil Mason, a leading analyst in the Retail sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The vehicle recovery services market has seen steady growth in recent years. However, with a downturn in car sales and a possible slowdown for the UK economy as it approaches departure from the EU, the sector is likely to enter a more challenging period. Competition may well intensify, necessitating well defined strategies from all those that wish to operate in this market.
Head of Retail Research
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