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Automotive & Vehicle Insurance-Global Market Insights and Sales Trends 2024
Synopsis
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.
The global Automotive & Vehicle Insurance market size is expected to reach US$ 247280 million by 2029, growing at a CAGR of 2.6% from 2023 to 2029. The market is mainly driven by the significant applications of Automotive & Vehicle Insurance in various end use industries. The expanding demands from the Passenger Car and Commercial Vehicle, are propelling Automotive & Vehicle Insurance market. Liability Insurance, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Collision Coverage segment is estimated at % CAGR for the next seven-year period.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Automotive & Vehicle Insurance, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Automotive & Vehicle Insurance market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Automotive & Vehicle Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Automotive & Vehicle Insurance sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Automotive & Vehicle Insurance covered in this report include State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide and Travelers, etc.
The global Automotive & Vehicle Insurance market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
State Farm
GEICO
Progressive
Allstate
USAA
Liberty Mutual
Farmers
Nationwide
Travelers
American Family
Global Automotive & Vehicle Insurance market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Automotive & Vehicle Insurance market, Segment by Type:
Liability Insurance
Collision Coverage
Comprehensive Coverage
Personal Injury Protection
Global Automotive & Vehicle Insurance market, by Application
Passenger Car
Commercial Vehicle
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: 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 Three: 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 Four: Detailed analysis of Automotive & Vehicle Insurance companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
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.
The global Automotive & Vehicle Insurance market size is expected to reach US$ 247280 million by 2029, growing at a CAGR of 2.6% from 2023 to 2029. The market is mainly driven by the significant applications of Automotive & Vehicle Insurance in various end use industries. The expanding demands from the Passenger Car and Commercial Vehicle, are propelling Automotive & Vehicle Insurance market. Liability Insurance, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Collision Coverage segment is estimated at % CAGR for the next seven-year period.
Automotive is a key driver of this industry. According to data from the World Automobile Organization (OICA), global automobile production and sales in 2017 reached their peak in the past 10 years, at 97.3 million and 95.89 million respectively. In 2018, the global economic expansion ended, and the global auto market declined as a whole. In 2022, there will wear units 81.6 million vehicles in the world. At present, more than 90% of the world's automobiles are concentrated in the three continents of Asia, Europe and North America, of which Asia automobile production accounts for 56% of the world, Europe accounts for 20%, and North America accounts for 16%. The world major automobile producing countries include China, the United States, Japan, South Korea, Germany, India, Mexico, and other countries; among them, China is the largest automobile producing country in the world, accounting for about 32%. Japan is the world's largest car exporter, exporting more than 3.5 million vehicles in 2022.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Automotive & Vehicle Insurance, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Automotive & Vehicle Insurance market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Automotive & Vehicle Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Automotive & Vehicle Insurance sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Automotive & Vehicle Insurance covered in this report include State Farm, GEICO, Progressive, Allstate, USAA, Liberty Mutual, Farmers, Nationwide and Travelers, etc.
The global Automotive & Vehicle Insurance market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
State Farm
GEICO
Progressive
Allstate
USAA
Liberty Mutual
Farmers
Nationwide
Travelers
American Family
Global Automotive & Vehicle Insurance market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Automotive & Vehicle Insurance market, Segment by Type:
Liability Insurance
Collision Coverage
Comprehensive Coverage
Personal Injury Protection
Global Automotive & Vehicle Insurance market, by Application
Passenger Car
Commercial Vehicle
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: 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 Three: 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 Four: Detailed analysis of Automotive & Vehicle Insurance companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index1 Market Overview of Automotive & Vehicle Insurance
1.1 Automotive & Vehicle Insurance Market Overview
1.1.1 Automotive & Vehicle Insurance Product Scope
1.1.2 Automotive & Vehicle Insurance Market Status and Outlook
1.2 Global Automotive & Vehicle Insurance Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Automotive & Vehicle Insurance Market Size by Region (2018-2029)
1.4 Global Automotive & Vehicle Insurance Historic Market Size by Region (2018-2023)
1.5 Global Automotive & Vehicle Insurance Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Automotive & Vehicle Insurance Market Size (2018-2029)
1.6.1 North America Automotive & Vehicle Insurance Market Size (2018-2029)
1.6.2 Europe Automotive & Vehicle Insurance Market Size (2018-2029)
1.6.3 Asia-Pacific Automotive & Vehicle Insurance Market Size (2018-2029)
1.6.4 Latin America Automotive & Vehicle Insurance Market Size (2018-2029)
1.6.5 Middle East & Africa Automotive & Vehicle Insurance Market Size (2018-2029)
2 Automotive & Vehicle Insurance Market by Type
2.1 Introduction
2.1.1 Liability Insurance
2.1.2 Collision Coverage
2.1.3 Comprehensive Coverage
2.1.4 Personal Injury Protection
2.2 Global Automotive & Vehicle Insurance Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Automotive & Vehicle Insurance Historic Market Size by Type (2018-2023)
2.2.2 Global Automotive & Vehicle Insurance Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Automotive & Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Automotive & Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Automotive & Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Automotive & Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Automotive & Vehicle Insurance Revenue Breakdown by Type (2018-2029)
3 Automotive & Vehicle Insurance Market Overview by Application
3.1 Introduction
3.1.1 Passenger Car
3.1.2 Commercial Vehicle
3.2 Global Automotive & Vehicle Insurance Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Automotive & Vehicle Insurance Historic Market Size by Application (2018-2023)
3.2.2 Global Automotive & Vehicle Insurance Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Automotive & Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Automotive & Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Automotive & Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Automotive & Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Automotive & Vehicle Insurance Revenue Breakdown by Application (2018-2029)
4 Automotive & Vehicle Insurance Competition Analysis by Players
4.1 Global Automotive & Vehicle Insurance Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Automotive & Vehicle Insurance as of 2022)
4.3 Date of Key Players Enter into Automotive & Vehicle Insurance Market
4.4 Global Top Players Automotive & Vehicle Insurance Headquarters and Area Served
4.5 Key Players Automotive & Vehicle Insurance Product Solution and Service
4.6 Competitive Status
4.6.1 Automotive & Vehicle Insurance Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 State Farm
5.1.1 State Farm Profile
5.1.2 State Farm Main Business
5.1.3 State Farm Automotive & Vehicle Insurance Products, Services and Solutions
5.1.4 State Farm Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.1.5 State Farm Recent Developments
5.2 GEICO
5.2.1 GEICO Profile
5.2.2 GEICO Main Business
5.2.3 GEICO Automotive & Vehicle Insurance Products, Services and Solutions
5.2.4 GEICO Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.2.5 GEICO Recent Developments
5.3 Progressive
5.3.1 Progressive Profile
5.3.2 Progressive Main Business
5.3.3 Progressive Automotive & Vehicle Insurance Products, Services and Solutions
5.3.4 Progressive Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.3.5 Allstate Recent Developments
5.4 Allstate
5.4.1 Allstate Profile
5.4.2 Allstate Main Business
5.4.3 Allstate Automotive & Vehicle Insurance Products, Services and Solutions
5.4.4 Allstate Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.4.5 Allstate Recent Developments
5.5 USAA
5.5.1 USAA Profile
5.5.2 USAA Main Business
5.5.3 USAA Automotive & Vehicle Insurance Products, Services and Solutions
5.5.4 USAA Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.5.5 USAA Recent Developments
5.6 Liberty Mutual
5.6.1 Liberty Mutual Profile
5.6.2 Liberty Mutual Main Business
5.6.3 Liberty Mutual Automotive & Vehicle Insurance Products, Services and Solutions
5.6.4 Liberty Mutual Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.6.5 Liberty Mutual Recent Developments
5.7 Farmers
5.7.1 Farmers Profile
5.7.2 Farmers Main Business
5.7.3 Farmers Automotive & Vehicle Insurance Products, Services and Solutions
5.7.4 Farmers Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.7.5 Farmers Recent Developments
5.8 Nationwide
5.8.1 Nationwide Profile
5.8.2 Nationwide Main Business
5.8.3 Nationwide Automotive & Vehicle Insurance Products, Services and Solutions
5.8.4 Nationwide Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.8.5 Nationwide Recent Developments
5.9 Travelers
5.9.1 Travelers Profile
5.9.2 Travelers Main Business
5.9.3 Travelers Automotive & Vehicle Insurance Products, Services and Solutions
5.9.4 Travelers Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.9.5 Travelers Recent Developments
5.10 American Family
5.10.1 American Family Profile
5.10.2 American Family Main Business
5.10.3 American Family Automotive & Vehicle Insurance Products, Services and Solutions
5.10.4 American Family Automotive & Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.10.5 American Family Recent Developments
6 North America
6.1 North America Automotive & Vehicle Insurance Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Automotive & Vehicle Insurance Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Automotive & Vehicle Insurance Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Automotive & Vehicle Insurance Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Automotive & Vehicle Insurance Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Automotive & Vehicle Insurance Market Dynamics
11.1 Automotive & Vehicle Insurance Industry Trends
11.2 Automotive & Vehicle Insurance Market Drivers
11.3 Automotive & Vehicle Insurance Market Challenges
11.4 Automotive & Vehicle Insurance Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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