The Towing Services industry has undergone slow and steady growth over the past five years. The industry has benefited from the rising number of motor vehicles on Australia's roads, as improving consumer sentiment and business confidence has driven strong growth in new car sales. The increasing number of vehicles on the road has meant that there is greater potential for breakdowns and accidents to occur, stimulating demand for towing services. Industry revenue is thus forecast to be worth $328.5 million in 2014-15, following compound annual growth of 1.4% over the past five years. The industry is also forecast to post steady 1.4% growth in the current year.
Industry operators are primarily engaged in towing light or heavy vehicles and other machinery over short or long distances. Operators may also provide incidental ancillary services, such as emergency roadside repairs and temporary pound or storage services. The industry excludes long-distance transportation of freight such as heavy machinery and equipment, buildings or containers, as well as motor vehicle transportation.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.