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Motor Vehicle Insurance-Global Market Insights and Sales Trends 2025
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 Motor Vehicle Insurance market size is expected to reach US$ 1008.8 million by 2029, growing at a CAGR of 4.3% from 2023 to 2029. The market is mainly driven by the significant applications of Motor Vehicle Insurance in various end use industries. The expanding demands from the Passenger Car and Commercial Car, are propelling Motor Vehicle Insurance market. Third Party Only, 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 Third Party Fire & Theft Insurance 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 Motor 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 Motor 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 Motor Vehicle Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Motor 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 Motor Vehicle Insurance covered in this report include Allianz, Allstate Insurance, American International, Berkshire Hathaway Homestate, People’s Insurance of China and Ping An Insurance, etc.
The global Motor 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:
Allianz
Allstate Insurance
American International
Berkshire Hathaway Homestate
People’s Insurance of China
Ping An Insurance
Global Motor 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 Motor Vehicle Insurance market, Segment by Type:
Third Party Only
Third Party Fire & Theft Insurance
Comprehensive Insurance
Global Motor Vehicle Insurance market, by Application
Passenger Car
Commercial Car
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 Motor 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 Motor Vehicle Insurance market size is expected to reach US$ 1008.8 million by 2029, growing at a CAGR of 4.3% from 2023 to 2029. The market is mainly driven by the significant applications of Motor Vehicle Insurance in various end use industries. The expanding demands from the Passenger Car and Commercial Car, are propelling Motor Vehicle Insurance market. Third Party Only, 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 Third Party Fire & Theft Insurance 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 Motor 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 Motor 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 Motor Vehicle Insurance market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Motor 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 Motor Vehicle Insurance covered in this report include Allianz, Allstate Insurance, American International, Berkshire Hathaway Homestate, People’s Insurance of China and Ping An Insurance, etc.
The global Motor 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:
Allianz
Allstate Insurance
American International
Berkshire Hathaway Homestate
People’s Insurance of China
Ping An Insurance
Global Motor 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 Motor Vehicle Insurance market, Segment by Type:
Third Party Only
Third Party Fire & Theft Insurance
Comprehensive Insurance
Global Motor Vehicle Insurance market, by Application
Passenger Car
Commercial Car
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 Motor 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 Motor Vehicle Insurance
1.1 Motor Vehicle Insurance Market Overview
1.1.1 Motor Vehicle Insurance Product Scope
1.1.2 Motor Vehicle Insurance Market Status and Outlook
1.2 Global Motor Vehicle Insurance Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Motor Vehicle Insurance Market Size by Region (2018-2029)
1.4 Global Motor Vehicle Insurance Historic Market Size by Region (2018-2023)
1.5 Global Motor Vehicle Insurance Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Motor Vehicle Insurance Market Size (2018-2029)
1.6.1 North America Motor Vehicle Insurance Market Size (2018-2029)
1.6.2 Europe Motor Vehicle Insurance Market Size (2018-2029)
1.6.3 Asia-Pacific Motor Vehicle Insurance Market Size (2018-2029)
1.6.4 Latin America Motor Vehicle Insurance Market Size (2018-2029)
1.6.5 Middle East & Africa Motor Vehicle Insurance Market Size (2018-2029)
2 Motor Vehicle Insurance Market by Type
2.1 Introduction
2.1.1 Third Party Only
2.1.2 Third Party Fire & Theft Insurance
2.1.3 Comprehensive Insurance
2.2 Global Motor Vehicle Insurance Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Motor Vehicle Insurance Historic Market Size by Type (2018-2023)
2.2.2 Global Motor Vehicle Insurance Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Motor Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Motor Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Motor Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Motor Vehicle Insurance Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Motor Vehicle Insurance Revenue Breakdown by Type (2018-2029)
3 Motor Vehicle Insurance Market Overview by Application
3.1 Introduction
3.1.1 Passenger Car
3.1.2 Commercial Car
3.2 Global Motor Vehicle Insurance Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Motor Vehicle Insurance Historic Market Size by Application (2018-2023)
3.2.2 Global Motor Vehicle Insurance Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Motor Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Motor Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Motor Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Motor Vehicle Insurance Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Motor Vehicle Insurance Revenue Breakdown by Application (2018-2029)
4 Motor Vehicle Insurance Competition Analysis by Players
4.1 Global Motor 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 Motor Vehicle Insurance as of 2022)
4.3 Date of Key Players Enter into Motor Vehicle Insurance Market
4.4 Global Top Players Motor Vehicle Insurance Headquarters and Area Served
4.5 Key Players Motor Vehicle Insurance Product Solution and Service
4.6 Competitive Status
4.6.1 Motor Vehicle Insurance Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 Allianz
5.1.1 Allianz Profile
5.1.2 Allianz Main Business
5.1.3 Allianz Motor Vehicle Insurance Products, Services and Solutions
5.1.4 Allianz Motor Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.1.5 Allianz Recent Developments
5.2 Allstate Insurance
5.2.1 Allstate Insurance Profile
5.2.2 Allstate Insurance Main Business
5.2.3 Allstate Insurance Motor Vehicle Insurance Products, Services and Solutions
5.2.4 Allstate Insurance Motor Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.2.5 Allstate Insurance Recent Developments
5.3 American International
5.3.1 American International Profile
5.3.2 American International Main Business
5.3.3 American International Motor Vehicle Insurance Products, Services and Solutions
5.3.4 American International Motor Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.3.5 Berkshire Hathaway Homestate Recent Developments
5.4 Berkshire Hathaway Homestate
5.4.1 Berkshire Hathaway Homestate Profile
5.4.2 Berkshire Hathaway Homestate Main Business
5.4.3 Berkshire Hathaway Homestate Motor Vehicle Insurance Products, Services and Solutions
5.4.4 Berkshire Hathaway Homestate Motor Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.4.5 Berkshire Hathaway Homestate Recent Developments
5.5 People’s Insurance of China
5.5.1 People’s Insurance of China Profile
5.5.2 People’s Insurance of China Main Business
5.5.3 People’s Insurance of China Motor Vehicle Insurance Products, Services and Solutions
5.5.4 People’s Insurance of China Motor Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.5.5 People’s Insurance of China Recent Developments
5.6 Ping An Insurance
5.6.1 Ping An Insurance Profile
5.6.2 Ping An Insurance Main Business
5.6.3 Ping An Insurance Motor Vehicle Insurance Products, Services and Solutions
5.6.4 Ping An Insurance Motor Vehicle Insurance Revenue (US$ Million) & (2018-2023)
5.6.5 Ping An Insurance Recent Developments
6 North America
6.1 North America Motor Vehicle Insurance Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Motor 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 Motor 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 Motor 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 Motor 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 Motor Vehicle Insurance Market Dynamics
11.1 Motor Vehicle Insurance Industry Trends
11.2 Motor Vehicle Insurance Market Drivers
11.3 Motor Vehicle Insurance Market Challenges
11.4 Motor 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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