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.
TABLE OF CONTENTS
1 Introduction to Research & Analysis Reports
1.1 Motor Vehicle Insurance Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Motor Vehicle Insurance Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Motor Vehicle Insurance Overall Market Size
2.1 Global Motor Vehicle Insurance Market Size: 2022 VS 2029
2.2 Global Motor Vehicle Insurance Market Size, Prospects & Forecasts: 2018-2029
2.3 Key Market Trends, Opportunity, Drivers and Restraints
2.3.1 Market Opportunities & Trends
2.3.2 Market Drivers
2.3.3 Market Restraints
3 Company Landscape
3.1 Top Motor Vehicle Insurance Players in Global Market
3.2 Top Global Motor Vehicle Insurance Companies Ranked by Revenue
3.3 Global Motor Vehicle Insurance Revenue by Companies
3.4 Top 3 and Top 5 Motor Vehicle Insurance Companies in Global Market, by Revenue in 2022
3.5 Global Companies Motor Vehicle Insurance Product Type
3.6 Tier 1, Tier 2 and Tier 3 Motor Vehicle Insurance Players in Global Market
3.6.1 List of Global Tier 1 Motor Vehicle Insurance Companies
3.6.2 List of Global Tier 2 and Tier 3 Motor Vehicle Insurance Companies
4 Market Sights by Product
4.1 Overview
4.1.1 By Type - Global Motor Vehicle Insurance Market Size Markets, 2022 & 2029
4.1.2 Third Party Only
4.1.3 Third Party Fire & Theft Insurance
4.1.4 Comprehensive Insurance
4.2 By Type - Global Motor Vehicle Insurance Revenue & Forecasts
4.2.1 By Type - Global Motor Vehicle Insurance Revenue, 2018-2023
4.2.2 By Type - Global Motor Vehicle Insurance Revenue, 2024-2029
4.2.3 By Type - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application - Global Motor Vehicle Insurance Market Size, 2022 & 2029
5.1.2 Passenger Car
5.1.3 Commercial Car
5.2 By Application - Global Motor Vehicle Insurance Revenue & Forecasts
5.2.1 By Application - Global Motor Vehicle Insurance Revenue, 2018-2023
5.2.2 By Application - Global Motor Vehicle Insurance Revenue, 2024-2029
5.2.3 By Application - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
6 Sights by Region
6.1 By Region - Global Motor Vehicle Insurance Market Size, 2022 & 2029
6.2 By Region - Global Motor Vehicle Insurance Revenue & Forecasts
6.2.1 By Region - Global Motor Vehicle Insurance Revenue, 2018-2023
6.2.2 By Region - Global Motor Vehicle Insurance Revenue, 2024-2029
6.2.3 By Region - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
6.3 North America
6.3.1 By Country - North America Motor Vehicle Insurance Revenue, 2018-2029
6.3.2 US Motor Vehicle Insurance Market Size, 2018-2029
6.3.3 Canada Motor Vehicle Insurance Market Size, 2018-2029
6.3.4 Mexico Motor Vehicle Insurance Market Size, 2018-2029
6.4 Europe
6.4.1 By Country - Europe Motor Vehicle Insurance Revenue, 2018-2029
6.4.2 Germany Motor Vehicle Insurance Market Size, 2018-2029
6.4.3 France Motor Vehicle Insurance Market Size, 2018-2029
6.4.4 U.K. Motor Vehicle Insurance Market Size, 2018-2029
6.4.5 Italy Motor Vehicle Insurance Market Size, 2018-2029
6.4.6 Russia Motor Vehicle Insurance Market Size, 2018-2029
6.4.7 Nordic Countries Motor Vehicle Insurance Market Size, 2018-2029
6.4.8 Benelux Motor Vehicle Insurance Market Size, 2018-2029
6.5 Asia
6.5.1 By Region - Asia Motor Vehicle Insurance Revenue, 2018-2029
6.5.2 China Motor Vehicle Insurance Market Size, 2018-2029
6.5.3 Japan Motor Vehicle Insurance Market Size, 2018-2029
6.5.4 South Korea Motor Vehicle Insurance Market Size, 2018-2029
6.5.5 Southeast Asia Motor Vehicle Insurance Market Size, 2018-2029
6.5.6 India Motor Vehicle Insurance Market Size, 2018-2029
6.6 South America
6.6.1 By Country - South America Motor Vehicle Insurance Revenue, 2018-2029
6.6.2 Brazil Motor Vehicle Insurance Market Size, 2018-2029
6.6.3 Argentina Motor Vehicle Insurance Market Size, 2018-2029
6.7 Middle East & Africa
6.7.1 By Country - Middle East & Africa Motor Vehicle Insurance Revenue, 2018-2029
6.7.2 Turkey Motor Vehicle Insurance Market Size, 2018-2029
6.7.3 Israel Motor Vehicle Insurance Market Size, 2018-2029
6.7.4 Saudi Arabia Motor Vehicle Insurance Market Size, 2018-2029
6.7.5 UAE Motor Vehicle Insurance Market Size, 2018-2029
7 Motor Vehicle Insurance Companies Profiles
7.1 Allianz
7.1.1 Allianz Company Summary
7.1.2 Allianz Business Overview
7.1.3 Allianz Motor Vehicle Insurance Major Product Offerings
7.1.4 Allianz Motor Vehicle Insurance Revenue in Global Market (2018-2023)
7.1.5 Allianz Key News & Latest Developments
7.2 Allstate Insurance
7.2.1 Allstate Insurance Company Summary
7.2.2 Allstate Insurance Business Overview
7.2.3 Allstate Insurance Motor Vehicle Insurance Major Product Offerings
7.2.4 Allstate Insurance Motor Vehicle Insurance Revenue in Global Market (2018-2023)
7.2.5 Allstate Insurance Key News & Latest Developments
7.3 American International
7.3.1 American International Company Summary
7.3.2 American International Business Overview
7.3.3 American International Motor Vehicle Insurance Major Product Offerings
7.3.4 American International Motor Vehicle Insurance Revenue in Global Market (2018-2023)
7.3.5 American International Key News & Latest Developments
7.4 Berkshire Hathaway Homestate
7.4.1 Berkshire Hathaway Homestate Company Summary
7.4.2 Berkshire Hathaway Homestate Business Overview
7.4.3 Berkshire Hathaway Homestate Motor Vehicle Insurance Major Product Offerings
7.4.4 Berkshire Hathaway Homestate Motor Vehicle Insurance Revenue in Global Market (2018-2023)
7.4.5 Berkshire Hathaway Homestate Key News & Latest Developments
7.5 People?s Insurance of China
7.5.1 People?s Insurance of China Company Summary
7.5.2 People?s Insurance of China Business Overview
7.5.3 People?s Insurance of China Motor Vehicle Insurance Major Product Offerings
7.5.4 People?s Insurance of China Motor Vehicle Insurance Revenue in Global Market (2018-2023)
7.5.5 People?s Insurance of China Key News & Latest Developments
7.6 Ping An Insurance
7.6.1 Ping An Insurance Company Summary
7.6.2 Ping An Insurance Business Overview
7.6.3 Ping An Insurance Motor Vehicle Insurance Major Product Offerings
7.6.4 Ping An Insurance Motor Vehicle Insurance Revenue in Global Market (2018-2023)
7.6.5 Ping An Insurance Key News & Latest Developments
8 Conclusion
9 Appendix
9.1 Note
9.2 Examples of Clients
9.3 Disclaimer
LIST OF TABLES & FIGURES
List of Tables
Table 1. Motor Vehicle Insurance Market Opportunities & Trends in Global Market
Table 2. Motor Vehicle Insurance Market Drivers in Global Market
Table 3. Motor Vehicle Insurance Market Restraints in Global Market
Table 4. Key Players of Motor Vehicle Insurance in Global Market
Table 5. Top Motor Vehicle Insurance Players in Global Market, Ranking by Revenue (2022)
Table 6. Global Motor Vehicle Insurance Revenue by Companies, (US$, Mn), 2018-2023
Table 7. Global Motor Vehicle Insurance Revenue Share by Companies, 2018-2023
Table 8. Global Companies Motor Vehicle Insurance Product Type
Table 9. List of Global Tier 1 Motor Vehicle Insurance Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 10. List of Global Tier 2 and Tier 3 Motor Vehicle Insurance Companies, Revenue (US$, Mn) in 2022 and Market Share
Table 11. By Type ? Global Motor Vehicle Insurance Revenue, (US$, Mn), 2022 & 2029
Table 12. By Type - Motor Vehicle Insurance Revenue in Global (US$, Mn), 2018-2023
Table 13. By Type - Motor Vehicle Insurance Revenue in Global (US$, Mn), 2024-2029
Table 14. By Application ? Global Motor Vehicle Insurance Revenue, (US$, Mn), 2022 & 2029
Table 15. By Application - Motor Vehicle Insurance Revenue in Global (US$, Mn), 2018-2023
Table 16. By Application - Motor Vehicle Insurance Revenue in Global (US$, Mn), 2024-2029
Table 17. By Region ? Global Motor Vehicle Insurance Revenue, (US$, Mn), 2022 & 2029
Table 18. By Region - Global Motor Vehicle Insurance Revenue (US$, Mn), 2018-2023
Table 19. By Region - Global Motor Vehicle Insurance Revenue (US$, Mn), 2024-2029
Table 20. By Country - North America Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2023
Table 21. By Country - North America Motor Vehicle Insurance Revenue, (US$, Mn), 2024-2029
Table 22. By Country - Europe Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2023
Table 23. By Country - Europe Motor Vehicle Insurance Revenue, (US$, Mn), 2024-2029
Table 24. By Region - Asia Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2023
Table 25. By Region - Asia Motor Vehicle Insurance Revenue, (US$, Mn), 2024-2029
Table 26. By Country - South America Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2023
Table 27. By Country - South America Motor Vehicle Insurance Revenue, (US$, Mn), 2024-2029
Table 28. By Country - Middle East & Africa Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2023
Table 29. By Country - Middle East & Africa Motor Vehicle Insurance Revenue, (US$, Mn), 2024-2029
Table 30. Allianz Company Summary
Table 31. Allianz Motor Vehicle Insurance Product Offerings
Table 32. Allianz Motor Vehicle Insurance Revenue (US$, Mn) & (2018-2023)
Table 33. Allianz Key News & Latest Developments
Table 34. Allstate Insurance Company Summary
Table 35. Allstate Insurance Motor Vehicle Insurance Product Offerings
Table 36. Allstate Insurance Motor Vehicle Insurance Revenue (US$, Mn) & (2018-2023)
Table 37. Allstate Insurance Key News & Latest Developments
Table 38. American International Company Summary
Table 39. American International Motor Vehicle Insurance Product Offerings
Table 40. American International Motor Vehicle Insurance Revenue (US$, Mn) & (2018-2023)
Table 41. American International Key News & Latest Developments
Table 42. Berkshire Hathaway Homestate Company Summary
Table 43. Berkshire Hathaway Homestate Motor Vehicle Insurance Product Offerings
Table 44. Berkshire Hathaway Homestate Motor Vehicle Insurance Revenue (US$, Mn) & (2018-2023)
Table 45. Berkshire Hathaway Homestate Key News & Latest Developments
Table 46. People?s Insurance of China Company Summary
Table 47. People?s Insurance of China Motor Vehicle Insurance Product Offerings
Table 48. People?s Insurance of China Motor Vehicle Insurance Revenue (US$, Mn) & (2018-2023)
Table 49. People?s Insurance of China Key News & Latest Developments
Table 50. Ping An Insurance Company Summary
Table 51. Ping An Insurance Motor Vehicle Insurance Product Offerings
Table 52. Ping An Insurance Motor Vehicle Insurance Revenue (US$, Mn) & (2018-2023)
Table 53. Ping An Insurance Key News & Latest Developments
List of Figures
Figure 1. Motor Vehicle Insurance Segment by Type in 2022
Figure 2. Motor Vehicle Insurance Segment by Application in 2022
Figure 3. Global Motor Vehicle Insurance Market Overview: 2022
Figure 4. Key Caveats
Figure 5. Global Motor Vehicle Insurance Market Size: 2022 VS 2029 (US$, Mn)
Figure 6. Global Motor Vehicle Insurance Revenue, 2018-2029 (US$, Mn)
Figure 7. The Top 3 and 5 Players Market Share by Motor Vehicle Insurance Revenue in 2022
Figure 8. By Type - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 9. By Application - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 10. By Type - Global Motor Vehicle Insurance Revenue, (US$, Mn), 2022 & 2029
Figure 11. By Type - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 12. By Application - Global Motor Vehicle Insurance Revenue, (US$, Mn), 2022 & 2029
Figure 13. By Application - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 14. By Region - Global Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 15. By Country - North America Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 16. US Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 17. Canada Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 18. Mexico Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 19. By Country - Europe Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 20. Germany Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 21. France Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 22. U.K. Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 23. Italy Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 24. Russia Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 25. Nordic Countries Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 26. Benelux Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 27. By Region - Asia Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 28. China Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 29. Japan Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 30. South Korea Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 31. Southeast Asia Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 32. India Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 33. By Country - South America Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 34. Brazil Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 35. Argentina Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 36. By Country - Middle East & Africa Motor Vehicle Insurance Revenue Market Share, 2018-2029
Figure 37. Turkey Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 38. Israel Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 39. Saudi Arabia Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 40. UAE Motor Vehicle Insurance Revenue, (US$, Mn), 2018-2029
Figure 41. Allianz Motor Vehicle Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 42. Allstate Insurance Motor Vehicle Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 43. American International Motor Vehicle Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 44. Berkshire Hathaway Homestate Motor Vehicle Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 45. People?s Insurance of China Motor Vehicle Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
Figure 46. Ping An Insurance Motor Vehicle Insurance Revenue Year Over Year Growth (US$, Mn) & (2018-2023)
