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Auto Extended Warranty Market Size 2024-2028

The auto extended warranty market size is forecast to increase by USD 14.1 billion at a CAGR of 6.35% between 2023 and 2028.

The extended warranty market in North America is witnessing significant growth due to various trends and factors. Flexible pricing schemes are gaining popularity among consumers, enabling them to customize their coverage based on their budget and vehicle usage. companies are expanding their service portfolios to cater to diverse customer needs, offering additional benefits such as roadside assistance and trip interruption coverage. However, the market faces challenges such as increasing security threats, leading to an increased focus on cybersecurity measures to protect customer data. These trends and challenges are shaping the future of the extended warranty market in North America.

What will be the Size of the Auto Extended Warranty Market During the Forecast Period?

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The market In the United States continues to experience significant growth, driven by the increasing complexity of vehicles and the desire of consumers to mitigate the financial risks associated with unexpected repairs. Optional warranties, offered by both original equipment manufacturers (OEMs) and independent providers, provide coverage for mechanical and electrical components beyond the original manufacturer's warranty. Coverage options vary, with some plans focusing on powertrain and others extending to electrical systems, air conditioning, and other components. Durations and mileage limits also differ, allowing consumers to choose the level of protection that best suits their needs. The implementation of advanced technologies in vehicles, such as electric and hybrid systems, has increased the importance of extended warranty plans, particularly for electrical components.Customized coverage options and digital platforms have streamlined the purchase process, making it more convenient for vehicle owners. Value-added services, such as roadside assistance and rental car reimbursement, have also become increasingly popular. Consumer perception of extended warranties is improving, with trustworthiness a key factor In the decision-making process. The use of genuine parts and the transparency of coverage details are important considerations for consumers when selecting a provider. Overall, the market is expected to continue growing, driven by the increasing complexity of vehicles and the desire of consumers for peace of mind when it comes to unexpected repair costs.

How is this Auto Extended Warranty Industry segmented and which is the largest segment?

The auto extended warranty industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. End-userPersonalCommercialGeographyNorth AmericaUSEuropeGermanyUKAPACChinaJapanSouth AmericaMiddle East and Africa

By End-user Insights

The personal segment is estimated to witness significant growth during the forecast period.

companies In the market provide various programs, including extended service plans, mobile insurance, and protection plans, to businesses such as retailers and manufacturers. These offerings include risk management programs that cover the cost of wear and tear under an extended warranty, as well as protection against manufacturing defects. By extending the warranty period, automotive manufacturers, distributors, and retailers aim to enhance the value of their products and differentiate them In the market. For instance, a manufacturer may offer a one-year warranty on its cars and extend the coverage with an additional two- or three-year warranty. Implementations of technologies such as GPS, telematics, artificial intelligence, powertrain coverage, stated component coverage, and exclusionary coverage facilitate the effective delivery of these extended warranty services.

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The Personal segment was valued at USD 23.40 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 65% to the growth of the global market during the forecast period.

Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The US is the leading market for auto extended warranties in North America, driven by the presence of major automotive industries and advanced technological innovations. With a mature automotive industry and high consumer disposable income, the US market is projected to experience steady growth during the forecast period. Top automotive

This survey asks how consumers feel about registering a new product so the supplier can get in contact with you in case of a recall. ** percent of respondents would be more inclined to register.

The European Warranty Management System (WMS) market is experiencing robust growth, projected to reach €1.47 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 13.07% from 2025 to 2033. This expansion is driven by several key factors. Increasing demand for efficient and streamlined warranty processes across diverse industries, particularly in the automotive, industrial equipment, and consumer durable sectors, is a primary driver. Companies are increasingly adopting cloud-based WMS solutions to enhance operational efficiency, improve customer satisfaction, and reduce warranty costs. The rise of digitalization and the Internet of Things (IoT) further fuels this trend, enabling predictive maintenance and proactive warranty management. Furthermore, stringent regulatory compliance requirements and a growing focus on data analytics for better warranty claim management contribute to the market's growth. Strong competition among established players like IBM, Wipro, and Syncron, alongside emerging technology providers, is fostering innovation and improving the overall market offering. The adoption of advanced features like AI and machine learning in WMS solutions is also a significant factor, enhancing predictive capabilities and optimizing warranty processes. The European market is segmented geographically, with key regions including the United Kingdom, Germany, France, and other major economies within the EU contributing significantly to the overall market value. The preference for cloud-based deployment models is expected to continue its upward trajectory, owing to their scalability, cost-effectiveness, and accessibility. However, challenges such as data security concerns, integration complexities, and the need for robust customer service support can potentially restrain market growth to a certain extent. Nevertheless, the long-term outlook remains positive, driven by ongoing technological advancements, increased adoption across industries, and a rising focus on customer retention strategies that leverage effective warranty management. The continued evolution of WMS solutions to incorporate advanced analytics and automation promises further expansion in the coming years. Europe Warranty Management System Market: A Comprehensive Report (2019-2033) This comprehensive report provides an in-depth analysis of the Europe Warranty Management System market, offering valuable insights for businesses and investors. The report covers the period from 2019 to 2033, with 2025 as the base year and forecasts extending to 2033. We utilize a robust methodology combining historical data (2019-2024) with current market dynamics to deliver accurate and actionable projections. The market is segmented by deployment (on-premise, cloud), end-user industry (industrial equipment, automotive and transportation, consumer durables, others), and key players. This report is essential for anyone seeking to understand the growth trajectory, challenges, and opportunities within this dynamic market. Recent developments include: Oct 2022: Fiat Professional UK announced that the E-Ducato electric van comes with a five-year warranty, a service plan, and roadside support as standard equipment. The warranty spans up to 125,000 miles or the first of the standard three years plus an additional two. While free service is designed to be provided once every two years or every 30,000 miles, roadside help would be available around the clock, creating a demand for the applications of warranty management systems in the European market., Oct 2022: ServiceMax Inc., a field service management company for asset management, has gained a contract from Horiba Europe GmbH to deploy its field service management platform to digitize Horiba's operations across Europe, including the warranty management of the products. Additionally, as part of its global business transformation efforts, HORIBA Europe GmbH has planned to replace its traditional field management system to automate manual tasks and improve customer service, creating a demand for the market in Europe.. Key drivers for this market are: Rising Adoption of Warranty Management Systems in the Manufacturing and Automotive Industries, Increasing Adoption of AI and ML Capabilities in Next-generation Warranty Management Systems to Ensure Customer Satisfaction. Potential restraints include: Intense Competition Between Independent Service Providers in Price-sensitive Markets. Notable trends are: Cloud Deployment Segment Holds Major Market Share.

The number of homes registered in 2024 for the ten-year warranty of the NHBC was lower in every region in the UK than in 2022. That came after very sharp increases in the number of registrations with NHBC warranty in 2021 and 2022. South East and East Midlands were the regions with the highest number of NHBC housing registrations in 2024.

This statistic shows the attitude of several motorcycle dealerships towards their manufacturers' timely and fair settlement of warranty claims in the United Kingdom (UK) in spring and autumn 2018. The respondents gave a score out of five. Piaggio dealers rated their manufacturer's warranty settlement process the worst while Kawasaki dealers gave the highest rating of 4.6 out of five points in autumn 2018. Kawasaki dealers were also one of the most satisfied with the image of their brand and products offered.

United Kingdom Car Insurance Market size was valued at USD 22.63 Billion in 2024 and is projected to reach USD 33.84 Billion by 2032, growing at a CAGR of 5.16% from 2026 to 2032.

United Kingdom Car Insurance Market Drivers

• Rising Vehicle Ownership and Usage: The increasing number of vehicles on UK roads is driving the car insurance market, as more individuals and businesses require coverage. Growing urbanization and commuting needs are contributing to this trend. Data from the UK Department for Transport in January 2024 revealed that vehicle registrations increased by 8% year-on-year, reflecting higher demand for car insurance policies. This growth is further supported by the expanding ride-hailing and car rental sectors.

• Growing Adoption of Electric Vehicles (EVs): The rising adoption of electric vehicles (EVs) is propelling the car insurance market, as EVs often require specialized coverage due to their unique repair and maintenance needs. Government incentives for EV adoption are accelerating this trend. The UK Office for Zero Emission Vehicles (OZEV) reported in February 2024 that EV registrations grew by 35% year-on-year, highlighting the need for tailored insurance products. This shift is reshaping the insurance landscape.

• Increasing Awareness of Comprehensive Coverage: Growing awareness of the benefits of comprehensive car insurance is driving market growth, as consumers seek broader protection against accidents, theft, and damage. This trend is particularly strong among high-value and luxury vehicle owners. The Financial Conduct Authority (FCA) reported in March 2024 that comprehensive policy purchases increased by 12% year-on-year, reflecting this shift. Consumers are prioritizing peace of mind and financial security.

This statistic shows the minimum length of standard warranty consumers would expect and want to be included with new household appliance purchases in Great Britain. According to the survey conducted in 2013, ** percent of respondents would want a * year warranty included with new appliance purchases, however only ** percent would expect such a warranty period to be included in the price.

Discover the booming market for failure analysis of vehicle electronics. This in-depth analysis reveals key trends, growth drivers, and leading companies shaping this dynamic sector, projecting a robust CAGR and significant market expansion by 2033. Learn about market segmentation, regional variations, and the challenges and opportunities within the industry.

The Motor Vehicle Parts Wholesaling and Retailing industry’s revenue is forecast to climb at a compound annual rate of 1.6% over the five years through 2025 to reach €341.7 billion, with revenue expected to hike by 0.6% in 2025. The number of vehicles on European roads is rising across the board, providing a strong and consistent revenue stream for many wholesalers and retailers. European new car registrations grew by 1.6% in the first five months of 2025 according to ACEA, signalling a modest economic recovery and greater consumer willingness to buy cars, especially hybrid-electric models. The expanding vehicle fleet is set to drive aftermarket growth, with demand rising for hybrid replacement parts. Wholesalers and retailers are scaling up hybrid parts inventories and forging stronger ties with specialist suppliers, while companies like LKQ Europe are providing targeted technician training to equip the repair sector for the shift towards hybrid and electric vehicles. Moreover, the used car market also supports the industry in growing. According to Autovista24, used car sales climbed across major European markets, notably rising by 8.6% in Spain, where demand for older vehicles increased sharply. This trend is boosting downstream demand for automotive components as ageing cars require more maintenance. To capitalise on this growth, car parts wholesalers and retailers are upgrading digital platforms, like Autodoc’s Spanish-language site, to streamline parts identification and provide targeted support. Offering specialised after-sales services enables businesses to generate additional revenue and enhance customer loyalty in Spain’s rapidly expanding used car sector. Overall, robust used car market growth and rising new car registrations fuel the industry to expand revenue and profit. Over the five years through 2029, industry revenue is anticipated to grow at a compound annual rate of 4% to reach €416.4 billion. Rising environmental awareness and prospective bans on the sale of new petrol and diesel cars will encourage car owners to ditch their traditionally-fuelled cars and turn their interest towards electric cars and alternatively-fuelled vehicles. Wholesalers that stock these vehicles’ parts, like electric batteries, will boost their market share. Vehicles are increasingly integrating tech into the drive system, providing new product areas for newcomers to target.

In 2023, the motor industry in the United Kingdom contributed around ** billion British pounds in added value to the UK economy. The industry's economic contribution peaked in 2016 at some ** billion British pounds. After years on the rise, the country’s gross domestic product decreased from just under *** trillion British pounds in 2019 to just above * billion British pounds in 2020. By 2023, the UK's GDP had bounced back to some *** billion British pounds. Motor vehicle production enterprises in the United Kingdom The UK was home to approximately ***** enterprises in motor vehicle, trailer and semi-trailer manufacturing, one of the highest number among all European countries. However, of these, only around ** percent had an annual turnover exceeding * million British pounds. Declining role of the industrial sector The UK's greatest economic sector in terms of contribution to gross domestic product (GDP) was services. The service industries accounted for approximately ** percent of total GDP in 2022, while industry only accounted for roughly ** percent.

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Automotive Engineering Service Providers (ESP) Market Size 2025-2029

The automotive engineering service providers (esp) market size is valued to increase USD 12.09 billion, at a CAGR of 9.8% from 2024 to 2029. Increasing digitization and electrification of automobiles will drive the automotive engineering service providers (esp) market.

Major Market Trends & Insights

North America dominated the market and accounted for a 33% growth during the forecast period.
By Application - Passenger Vehicles segment was valued at USD 10.55 billion in 2023
By Product Type - Powertrain segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 102.38 billion
Market Future Opportunities: USD 12.09 billion
CAGR from 2024 to 2029 : 9.8%

Market Summary

The market experiences continuous expansion, driven by the increasing digitization and electrification of automobiles. This evolution necessitates advanced engineering solutions to meet the complex demands of modern vehicles. Autonomous vehicle development is a significant trend shaping the ESP market. Engineering service providers play a pivotal role in designing, testing, and validating the intricate systems required for self-driving cars. Additionally, the rise of electric vehicles necessitates expertise in battery technology, thermal management, and vehicle dynamics.
Cost pressure on Original Equipment Manufacturers (OEMs) is another critical factor fueling the growth of the ESP market. Outsourcing engineering services to specialized providers allows OEMs to reduce costs, focus on core competencies, and accelerate time-to-market. However, this trend also presents challenges, such as ensuring data security and maintaining intellectual property rights. In conclusion, the ESP market is poised for continued growth, driven by the increasing complexity of automobiles and the need for cost-effective engineering solutions. Engineering service providers must stay abreast of emerging technologies and trends to remain competitive and deliver value to their clients.

What will be the Size of the Automotive Engineering Service Providers (ESP) Market during the forecast period?

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How is the Automotive Engineering Service Providers (ESP) Market Segmented ?

The automotive engineering service providers (esp) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Passenger Vehicles
  Commercial Vehicles


Product Type

  Powertrain
  Complete vehicle
  Electrical/electronics
  Others


Type

  2-Channel
  3-Channel
  4-Channel


Delivery Model

  Onsite
  Offsite/Outsourced


Company Size

  Small Firms
  Large Providers


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The passenger vehicles segment is estimated to witness significant growth during the forecast period.

In the dynamic and complex landscape of the automotive industry, the role of Automotive Engineering Service Providers (ESPs) continues to evolve. These entities offer a range of specialized services, from regulatory compliance audits and quality control procedures to inventory management systems and automotive data analytics. ESPs ensure vehicle network security, manage service contracts, and employ predictive maintenance models, digital service documentation, and safety standards adherence. Data security protocols and telematics data integration are crucial components, along with sensor data processing and sustainable maintenance practices. Technical training programs and performance improvement metrics are essential for ESPs, enabling them to offer advanced services like collision repair estimation, emission control systems, and automotive repair software.

Warranty claims management, vehicle lifecycle management, and remote diagnostics platforms are other essential offerings. ESPs optimize repair processes through specialized tool calibration, mobile service solutions, fleet maintenance scheduling, and efficiency optimization tools. Compliance certification, engine performance tuning, environmental impact assessments, and automated testing equipment are further areas of expertise. According to recent market research, the global automotive engineering services market is projected to reach a value of USD120 billion by 2026, growing at a CAGR of 5.5% during the forecast period. This growth underscores the importance of ESPs in the evolving automotive indust

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Automotive Tow Bars Market Size 2025-2029

The automotive tow bars market size is forecast to increase by USD 1.16 billion at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing popularity of outdoor pursuits and the emergence of electric swiveling tow bars. The growing trend of recreational activities, such as camping and off-roading, has led to a swell in demand for tow bars that enable the towing of trailers, caravans, and boats. The electric swiveling tow bar, with its ability to pivot and maneuver easily, offers enhanced convenience and safety, further fueling market expansion. However, the market growth is not without challenges. Regulatory hurdles impact adoption due to stringent safety regulations and certification requirements. Additionally, supply chain inconsistencies, particularly in raw materials and logistics, temper growth potential. One trend influencing the market is the adoption of eco-friendly technologies in tow bars, such as solar and wind energy integration, and the use of biofuels. 
The key players are focusing on developing tow bars with environment-friendly coatings to reduce emissions and improve fuel efficiency. They are manufactured using various materials, including iron and steel, and high-performance materials like polycarbonate. Companies seeking to capitalize on market opportunities must navigate these challenges effectively by investing in research and development to meet regulatory requirements and strengthening their supply chain networks to ensure consistent production and delivery. By addressing these challenges, market participants can seize opportunities in the growing the market and position themselves as leaders in the industry.

What will be the Size of the Automotive Tow Bars Market during the forecast period?

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The market in the US is experiencing significant growth, driven by the increasing demand for load-carrying capacity and light-duty towing solutions. Tow bars come in various types, including detachable, adjustable height, and folding designs, catering to the diverse needs of off-road vehicle owners. Tow bar accessories, such as tongue weight distributors and anti-sway devices, ensure vehicle stability during towing, enhancing safety. Steel and aluminum tow bars offer different advantages, with steel bars providing superior durability and weight capacity, while aluminum bars offer lighter weight and better corrosion resistance. Tow bar locks and aftermarket options ensure trailer security, while OEM and aftermarket tow bars offer different price points.
Furthermore, tow bars are essential for towing trailers, which are widely used in the leisure industry for carrying boats, bicycles, and other equipment. Tow bar repair and maintenance are essential for ensuring tow bar longevity and optimal performance. Hydraulic trailer brakes and receiver tubes are critical tow bar components, ensuring trailer braking and hitch compatibility. Towing safety tips and trailer towing laws are crucial for safe and legal towing practices. Tow bar ratings and comparisons provide valuable insights for businesses and consumers alike when selecting the right tow bar for their needs. Tow bar troubleshooting and warranty information are also essential considerations for tow bar users. Overall, the tow bars market is a dynamic and evolving sector, with continued innovation and growth expected.

How is this Automotive Tow Bars Industry segmented?

The automotive tow bars industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product Type

  Non retractable
  Retractable
  Swiveling
  Others


Vehicle Type

  Passenger cars
  LCVs
  HCVs


Channel

  OEMs
  Aftermarket


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Product Type Insights

The non retractable segment is estimated to witness significant growth during the forecast period.

The market encompasses a range of products, including trailer hitches, utility trailers, tow bars, and related accessories. Tow bars facilitate various towing applications, such as heavy-duty towing for car haulers and boat towing. Fixed tow bars, including swan neck and flange ball styles, dominate the market due to their affordability, ease of installation, and wide availability in aftermarket stores. However, the market is shifting towards retractable tow bars, driven by their convenience and advanced features. Retractable tow bars, such as hidden and adjustable height models, offer improved vehicle compatibility and enhanced safety features, including wave brakes, inertia brakes