GITNUX MARKETDATA REPORT 2024

Must-Know Towing Industry Statistics [Latest Report]

With sources from: ibisworld.com, statista.com, aaa.com, fleetowner.com and many more

According to our research, the towing industry in the U.S. is a robust sector, generating $8 billion in annual revenue. Market Data Report reveals diverse stats: from average tow truck driver wage of $43,000 to the 30% reduction in response times through GPS tech. Dive into a wealth of data on towin

Statistic 1

"The towing industry in the United States generates approximately $8 billion in revenue annually."

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Statistic 2

"Average annual wage for a tow truck driver in the U.S. is around $43,000."

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Statistic 3

"Primary business model for the towing industry is contracting with municipalities, auto clubs, and insurance companies."

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Statistic 4

"About 70% of towing services are dispatched due to mechanical failure and breakdowns."

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Statistic 5

"Heavy-duty tow trucks, using hydraulic systems, account for about 15% of the fleet."

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Statistic 6

"Digital communication and GPS technology have reduced response times by up to 30%."

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Statistic 7

"Medium-duty tow trucks make up roughly 25% of tow truck fleets."

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Statistic 8

"Roadside fatalities in the towing industry are at a rate almost 15 times higher than other industries."

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Statistic 9

"Average cost of a tow truck service is approximately $109."

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Statistic 10

"Light-duty tow trucks account for approximately 60% of all trucks in the towing industry."

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Statistic 11

"Towing industry’s revenue has been growing at an average annual rate of 4.1% from 2016 to 2021."

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Statistic 12

"Only 12% of towing services are due to accidents and collisions."

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Statistic 13

"Percentage of customers who used towing services as part of roadside assistance within the last year was 4%."

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Statistic 14

"The towing industry employs more than 120,000 people across the nation."

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Statistic 15

"Roadside assistance calls received by AAA exceed 32 million annually."

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Statistic 16

"Over 25% of towing revenue comes from repossession services."

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Statistic 17

"Over one-third of towing businesses see more than $1 million in annual revenue."

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Statistic 18

"Approximately 20% of towing operations are contracted by law enforcement agencies."

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Statistic 19

"There are over 40,000 towing businesses in the United States."

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Statistic 20

"The towing and roadside assistance industry expects to grow at a rate of 2.1% annually from 2021 to 2026."

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Interpretation

The towing industry in the U.S. thrives, with $8 billion in annual revenue and over 120,000 employees nationwide. Despite the high revenue, the average cost of a tow truck service remains relatively affordable at around $109. Mechanical failures prompt 70% of towing dispatches, emphasizing the industry's vital role in roadside assistance. Surprisingly, roadside fatalities in towing exceed other industries by almost 15 times, indicating potential safety concerns. Digital advancements like GPS hav

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