Table of Content - Vehicle Insurance Market

Global vehicle insurance market is estimated to be valued at US$ 993.88 billion in 2024 and is expected to reach US$ 1,729.64 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

Report Description:

Global vehicle insurance market has witnessed significant growth over the past few years, owing to rising motorization across the world. Vehicle insurance provides financial protection against losses incurred due to accidents, vehicle theft, and natural calamities. It has become mandatory in many countries to obtain insurance coverage for motor vehicles. Factors such as rising per capita incomes, urbanization, and availability of vehicle financing options has boosted demand for both personal and commercial vehicles, and this is expected to drive the global vehicle insurance market growth. However, increasing adoption of autonomous vehicles and mobility-as-a-service models could impact traditional insurance business models in the long run.

Market Dynamics:

Global vehicle insurance market growth is driven by rising motorization accompanied by government mandates regarding minimum insurance coverage. According to the World Bank, the global vehicle has increased from approximately 1 billion vehicles in 2010 to over 1.4 billion vehicles in 2020. Demand for both passenger and commercial vehicles has increased strongly from emerging economies. However, high premium rates in some countries restrain the market growth. Introduction of usage-based and pay-as-you-drive insurance models present new opportunities for insurers to expand their customer base. Meanwhile, the shift towards electric vehicles and shared mobility services are influencing risk profiles and insurance requirements posing both threats and opportunities.

Key features of the study:

This report provides in-depth analysis of the global vehicle insurance market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global vehicle insurance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include People’s Insurance Company of China, Allstate Insurance Company, China Pacific Insurance Co., Allianz, State Farm Mutual, Tokio Marine Group, Automobile Insurance, Geico, Ping An Insurance (Group) Company of China, Ltd., Admiral Group Plc, Berkshire Hathaway Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global vehicle insurance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vehicle insurance market.

Detailed Segmentation:

By Motor Insurance Type
- Own Damage
- Third Party
By Application
- Commercial Vehicle
- Personal Vehicle
By Vehicle Age
- New Vehicle
- Old Vehicle
By Distribution Channel
- Individual Agents
- Brokers
- Banks
- Online
- Other Distribution Channels
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- People’s Insurance Company of China
- Allstate Insurance Company
- China Pacific Insurance Co.
- Allianz
- State Farm Mutual
- Tokio Marine Group
- Automobile Insurance
- Geico
- Ping An Insurance (Group) Company of China, Ltd.
- Admiral Group Plc
- Berkshire Hathaway Inc.
- State Farm
- Ping An Insurance
- Zurich AG
- AXA SA
- Assicurazioni Generali
- GEICO
- Bajaj Finserv

Table of Contents

Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
Market Purview
- Report Description
  - Market Definition and Scope
- Executive Summary
  - Market Snapshot, By Motor Insurance Type
  - Market Snapshot, By Application
  - Market Snapshot, By Vehicle Age
  - Market Snapshot, By Distribution Channel
  - Market Snapshot, By Region
- Coherent Opportunity Map (COM)
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Drivers
  - Restraints
  - Opportunities
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
Global Vehicle Insurance Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
Global Vehicle Insurance Market, By Motor Insurance Type, 2019-2031, (US$ Bn)
- Introduction
  - Market Share Analysis, 2024 and 2031 (%)
  - Y-o-Y Growth Analysis, 2019-2031
  - Segment Trends
- Own Damage
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Third Party
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Global Vehicle Insurance Market, By Application, 2019-2031, (US$ Bn)
- Introduction
  - Market Share Analysis, 2024 and 2031 (%)
  - Y-o-Y Growth Analysis, 2019-2031
  - Segment Trends
- Commercial Vehicle
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Personal Vehicle
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Global Vehicle Insurance Market, By Vehicle Age, 2019-2031, (US$ Bn)
- Introduction
  - Market Share Analysis, 2024 and 2031 (%)
  - Y-o-Y Growth Analysis, 2019-2031
  - Segment Trends
- New Vehicle
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Old Vehicle
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Global Vehicle Insurance Market, By Distribution Channel, 2019-2031, (US$ Bn)
- Introduction
  - Market Share Analysis, 2024 and 2031 (%)
  - Y-o-Y Growth Analysis, 2019-2031
  - Segment Trends
- Individual Agents
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Brokers
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Banks
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Online
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
- Other Distribution Channels
  - Introduction
  - Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (US$ Bn)
Global Vehicle Insurance Market, By Region, 2019-2031, (US$ Bn)
- Introduction
  - Market Share Analysis, By Region, 2024 and 2031 (%)
  - Y-o-Y Growth Analysis, 2019-2031
- North America
  - Regional Trends
  - Market Size and Forecast, By Motor Insurance Type, 2019 – 2031, (US$ Billion)
  - Market Size and Forecast, By Application, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Vehicle Age, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Distribution Channel, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Country, 2019 – 2031, (US$ Bn)
    - U.S.
    - Canada
- Europe
  - Regional Trends
  - Market Size and Forecast, By Motor Insurance Type, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Application, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Vehicle Age, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Distribution Channel, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Country, 2019 – 2031, (US$ Bn)
    - U.K.
    - Germany
    - France
    - Italy
    - Russia
    - Rest of Europe
- Asia Pacific
  - Regional Trends
  - Market Size and Forecast, By Motor Insurance Type, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Application, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Vehicle Age, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Distribution Channel, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Country, 2019 – 2031, (US$ Bn)
    - China
    - India
    - Japan
    - ASEAN
    - Australia
    - South Korea
    - Rest of Asia Pacific
- Latin America
  - Regional Trends
  - Market Size and Forecast, By Motor Insurance Type, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Application, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Vehicle Age, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Distribution Channel, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Country, 2019 – 2031, (US$ Bn)
    - Brazil
    - Argentina
    - Mexico
    - Rest of Latin America
- Middle East & Africa
  - Regional Trends
  - Market Size and Forecast, By Motor Insurance Type, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Application, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Vehicle Age, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Distribution Channel, 2019 – 2031, (US$ Bn)
  - Market Size and Forecast, By Country, 2019 – 2031, (US$ Bn)
    - South Africa
    - GCC Countries
    - Rest of the Middle East & Africa
Competitive Landscape
- Company Profiles
  - People’s Insurance Company of China
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Allstate Insurance Company
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - China Pacific Insurance Co.
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Allianz
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - State Farm Mutual
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Tokio Marine Group
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Automobile Insurance
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Geico
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Ping An Insurance (Group) Company of China, Ltd.
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Admiral Group Plc
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Berkshire Hathaway Inc.
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - State Farm
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Ping An Insurance
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Zurich AG
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - AXA SA
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Assicurazioni Generali
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - GEICO
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
  - Bajaj Finserv
    - Company Overview
    - Product Portfolio
    - Financial Performance
    - Key Strategies
    - Recent Developments/Updates
Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
Section:
- Research Methodology
- About Us

*Browse 24 market data tables and 28 figures on "Global Vehicle Insurance Market” - Global forecast to 2031

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