Despite facing significant headwinds in 2024, towing industry leaders are expressing optimism about growth opportunities in 2025, according to new research from TRAXERO, a leading software solutions partner for towing, recovery, and roadside assistance businesses.

The 2024 State of Towing Report, which surveyed towing professionals across the United States and Canada, reveals that larger operators are particularly bullish about the new year, with many planning strategic shifts to capitalize on emerging opportunities. The research shows the most successful companies are diversifying revenue streams across both private and public sector work, with a strong focus on growing commercial accounts and specialized services.

“The towing industry has shown remarkable resilience in navigating recent challenges,” said Chris Landis, CEO of TRAXERO. “What’s particularly encouraging is seeing how companies are adapting their business models and finding new paths to growth. The most successful operators are leveraging technology to seamlessly manage multiple revenue streams while maintaining operational efficiency—this evolution speaks to the industry’s increasing sophistication.”Using survey response data, available market research, and commentary from industry experts, the State of Towing report sheds light on:

• Challenges towers are facing, including inflation, and the steps being taken to combat these issues;
• The struggle to hire and retain employees, specifically operators;
• The performance of impound yards and unclaimed vehicle auctions;
• How companies diversify their revenue sources as they grow larger;
• The industry-wide optimism and opportunities for 2025.

“The State of Towing report provides value to companies of all sizes in this industry so that they can look inward and find ways to grow their own businesses,” said Chris Landis, CEO. “Our mission at TRAXERO is to empower towers to be more productive, successful and profitable, and this resource is just one of many steps we’re taking to help our customers grow.”