Report overview
Vehicle insurance (also known as car insurance, motor insurance or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
This report aims to provide a comprehensive presentation of the global market for Motor Vehicle Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Motor Vehicle Insurance. This report contains market size and forecasts of Motor Vehicle Insurance in global, including the following market information:
Global Motor Vehicle Insurance Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Motor Vehicle Insurance market was valued at US$ 769.6 million in 2022 and is projected to reach US$ 1019.9 million by 2029, at a CAGR of 4.1% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The increase in automobile sales globally is the primary growth driver for this market. An increase in per capita income in emerging economies has led to an increase in the sales of automobiles. This is driving the global motor vehicle insurance market because governments across the world are making it mandatory to buy insurance policy while purchasing a new vehicle.
We surveyed the Motor Vehicle Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Motor Vehicle Insurance Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Motor Vehicle Insurance Market Segment Percentages, by Type, 2022 (%)
Third Party Only
Third Party Fire & Theft Insurance
Comprehensive Insurance
Global Motor Vehicle Insurance Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Motor Vehicle Insurance Market Segment Percentages, by Application, 2022 (%)
Passenger Car
Commercial Car
Global Motor Vehicle Insurance Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Motor Vehicle Insurance Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Motor Vehicle Insurance revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Motor Vehicle Insurance revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Allianz
Allstate Insurance
American International
Berkshire Hathaway Homestate
People?s Insurance of China
Ping An Insurance
Outline of Major Chapters:
Chapter 1: Introduces the definition of Motor Vehicle Insurance, market overview.
Chapter 2: Global Motor Vehicle Insurance market size in revenue.
Chapter 3: Detailed analysis of Motor Vehicle Insurance company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Motor Vehicle Insurance in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
