-- Rise in need for financial safety due to uncertainties, innovative products and services offered by major players, and surge in demand for insurance policies drive the growth of the global fire insurance market. However, lack of awareness regarding policies hinders the market growth. On the other hand, supportive government initiatives and implementation of new technologies present opportunities in the coming years.
According to the report published by Allied Market Research, the global fire insurance market generated $58.49 billion in 2019, and is expected to generate $120.49 billion by 2028, witnessing a CAGR of 11.9% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Download Sample PDF (278+ Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/11471
Leading players of the global fire insurance market analyzed in the research include Amica, Allstate Insurance Company, Allianz, ASSICURAZIONI GENERALI S.PA., AXA, Liberty Mutual Insurance, GEICO, State Farm Mutual Automobile Insurance Company, Ping An Insurance (Group) Company of China, Ltd., and USAA.
Key Benefits For Stakeholders
The study provides an in-depth analysis of the global fire insurance market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the global fire insurance market share is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the fire insurance market from 2019 to 2027 is provided to determine the market potential.
Make Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/11471
The report offers detailed segmentation of the global fire insurance market based on coverage, enterprise size, industry vertical, and region.
Based on coverage, the standard coverage segment contributed to the highest share, accounting for nearly 90% of the total share in 2019, and is projected to continue its leadership status during the forecast period. However, the optional coverage segment is estimated to manifest the highest CAGR of 16.4% from 2021 to 2028.
Based on enterprise size, the large enterprises segment held the largest share in 2019, accounting for nearly three-fourths of the global fire insurance market, and is projected to maintain its lead position during the forecast period. However, the SMEs segment is projected to witness the largest CAGR of 13.9% from 2021 to 2028.
Based on region, North America accounted for the highest market share in 2019, contributing to around two-fifths of the total share, and is estimated to maintain its dominant share in terms of revenue by 2028. However, Asia-Pacific is projected to portray the fastest CAGR of 15.2% during the forecast period.
Get Detailed COVID-19 Impact Analysis on the Fire Insurance Market: https://www.alliedmarketresearch.com/request-for-customization/11471?reqfor=covid
Covid-19 Scenario:
There has been a significant decline in availing fire insurance policies due to economic uncertainty occurred during the lockdown.
Many organizations have adopted work from home culture, which reduced the need for infrastructure at corporate offices. This factor reduced the demand for fire insurance from organizations.
Job losses and business discontinuity are also among the major reasons for reduced adoption of fire insurance policies.
Related Reports:
Insurance Analytics Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Boiler Insurance Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Dental Insurance Market by Coverage (Dental Preferred Provider Organizations (DPPO), Dental Health Maintenance Organizations (DHMO), Dental Indemnity Plans, and Others), Procedure Type (Major, Basic, and Preventive), Demographics (Senior Citizens, Adults, and Minors), and End User (Individuals and Corporates): Global Opportunity Analysis and Industry Forecast, 2020–2027
Crime Insurance Market by Coverage (Fraud Cover, Forgery Cover, Theft Cover, Kidnapping Cover, and Others) and End User (Individuals, Small & Medium-sized Enterprises, and Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2020–2027
Contact Info:
Name: David Correa
Email: Send Email
Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive, #205, Portland, OR 97220, United States, USA/Canada (Toll Free):, +1-800-792-5285, +1-503-894-6022,
Phone: 5034461141
Website: https://www.alliedmarketresearch.com/
Release ID: 89029606
Google
RSS