Automotive Insurance Market is projected to witness 4.4% CAGR by 2024, according to latest depth analysis report on Global Automotive Insurance Market by Vehicle Type, Insurance and Region Forecast till 2024, published by Market Research Future.
Car accidents and theft are the biggest extra-costs associated with driving, and thus car insurance should not be overlooked while purchasing a new car. A good car insurance policy will ensure that a driver does not face financial inconvenience in the case of an accident or theft. Car insurance policy has gained significant traction and has been made mandatory in various developing nations such as Indonesia, India, Vietnam, and China. Therefore, vehicle insurance becomes more important helps car owners minimize the legal and financial risks associated with car theft or accidents. The global automotive insurance industry is anticipated to witness dramatic change due to the increasing adoption of advanced driver assistance systems (ADAS) over the next decade, where the roads will be filled with buses, trucks, and cars partially driving themselves.
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Global Automotive Insurance Market Competitive Landscape:
Clements Worldwide (US), Zhongan Insurance (China), CPIC (China), RAC Motoring Services (UK), ABIC Inc. (China), Progressive Casualty Insurance Company (US), Zurich Insurance Group (Switzerland), RSA Insurance Group plc (UK), Allstate Insurance Company (US), NFU Mutual (UK), State Farm Mutual Automobile Insurance Company (US), and GEICO (US) are the key players in the automotive insurance market.
Scope of the Report
This study provides an overview of the global automotive insurance market, tracking three market segments across four geographic regions. The report studies key players and provide a six-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global automotive insurance market by orientation, capacity, dimensions, end-use, and region.
Automotive Insurance Market Segmentation:
The global automotive insurance market has been segmented based on vehicle type, insurance type.
By vehicle type, the automotive insurance market has been segmented into passenger cars, light commercial vehicle (LCV), and heavy commercial vehicle (HCV).
By insurance type, the automotive insurance market has been segmented into third-party, comprehensive, third-party theft and fire, and others.
Automotive Insurance Market Regional Analysis:
By region, the automotive vehicle insurance market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC automotive insurance market accounts for the maximum share of the global automotive insurance market. Economic upturn along with increasing purchasing power in the region has driven the sales of the vehicle significantly which translates into accelerated growth within the automotive insurance market. Additionally, the presence of several automotive insurance providers has created a conducive environment for the growth of the market.
Economy recovery in Europe has created favorable grounds for the growth of the automotive insurance market. Heightened sales of light commercial vehicles are anticipated to boost the growth of the North America automotive insurance market.
TABLE OF CONTENTS
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.2. Research Objective
2.3. Research Process
2.3.1. Primary Research
2.3.2. Secondary Research
2.4. Market Size Estimation
2.5. Forecast Model
3. Market Landscape
3.1. Porter’s Five Forces Analysis
3.1.1. Threat Of New Entrants
3.1.2. Bargaining Power Of Buyers
3.1.3. Threat Of Substitutes
3.1.4. Segment Rivalry
3.1.5. Bargaining Power Of Buyers
3.2. Value Chain/Supply Chain Analysis
4. Market Dynamics
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Trends
5. Global Automotive Insurance Market, By Vehicle Type
5.2. Passenger Cars
5.2.1. Market Estimates & Forecast, 2019–2024
5.2.2. Market Estimates & Forecast, By Region, 2019–2024
5.3. Light Commercial Vehicle (LCV)
5.3.1. Market Estimates & Forecast, 2019–2024
5.3.2. Market Estimates & Forecast, By Region, 2019–2024
5.4. Heavy Commercial Vehicle (HCV)
5.4.1. Market Estimates & Forecast, 2019–2024
5.4.2. Market Estimates & Forecast, By Region, 2019–2024
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