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Surety Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Bond Type, and Geography

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    Report

  • 134 Pages
  • July 2020
  • Region: Global
  • The Insight Partners
  • ID: 4747975
UP TO OFF until Mar 31st 2024
Global acceptance of public private partnership model anticipated to drive the surety market growth at 6.4% CAGR during 2020-2027.

Surety Market Forecast to 2027- COVID-19 Impact and Global Analysis - by Bond Type (Contract Surety Bond, Commercial Surety Bond, Fidelity Surety Bond, and Court Surety Bond), and Geography

The gaining popularity of PPP (public private partnership) in both developed as well as emerging economies worldwide is one of a major driver for surety market. Infrastructure investment and development are the main concern for governments across the world. With increasing urbanization, the emerging economies are witnessing a need to develop their critical infrastructure, while developed economies are in need to expand or reconstruct their existing infrastructures. The enduring evolution in PPP model is noticed with increased demand for infrastructure development as well as growing fiscal constraints, to support governments’ to fulfill these escalating infrastructure challenges. For instance, EU member countries have aided wide-ranging pan-national initiatives to enhance the adeptness of PPP financing, which include measures such as the Europe 2020 Project Bond Initiative. This initiative is intended to allow eligible infrastructure project developers; generally, PPP, to attract private finance from institutional investors including insurance companies as well as pension funds.

Moreover, the US government continually supports to finance PPP using long-term debt instruments, and taking initiatives such as Infrastructure Finance and Innovation Act, TIFIA, and tax concessions for municipal and government bonds. Moreover, the Canadian government supports PPP at all its levels and encourages PPP development at the municipal level as well. These factors are expected to catalyze the surety market during the coming years.

Slower Growth of Surety Market due to COVID-19 Outbreak

The recent outbreak of the COVID-19 has significantly affected the world and is continuing to shatter several countries. The construction industry across the world was witnessing significant growth prior to the emergence of COVID-19 in late 2019. The outbreak of COVID-19 has led the construction industry players to temporarily call off their respective projects. The unprecedented impact of COVID-19 and uncertainty in economic conditions of developed and developing countries, the construction industry is expected to witness a slower growth till 2021. Attributing to the fact that surety market is heavily driven by construction industry, the slowdown in growth of construction industry is reflecting downfall in surety market globally.

Several associations in the surety market and construction industry are extensively seeking a positive approach to build a growth path for the construction industry and thereby catalyzing the surety market in a short span of time. The imposition of lockdown measures by majority of the countries have been negatively affecting construction industry irrespective of residential, commercial, or industrial. This factor is adversely affecting the growth of surety market.

The Report Segments the Global Surety Market as Follows:

By Bond Type
  • Contract Surety Bond
  • Commercial Surety Bond
  • Court Surety Bond
  • Fidelity Surety Bond

By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe
  • Asia Pacific (APAC)
  • Australia
  • China
  • India
  • South Korea
  • Japan
  • Rest of APAC
  • Middle East and Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA
  • South America (SAM)
  • Brazil
  • Rest of SAM

Table of Contents

1. Introduction
1.1 Scope Of The Study
1.2 Report Guidance
2. Key Takeaways
3. Surety Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Global Surety Market – By Bond Type
3.2.2 Global Surety Market – By Geography
3.3 Pest Analysis
3.3.1 North America PEST Analysis
3.3.2 Europe PEST Analysis
3.3.3 Asia Pacific PEST Analysis
3.3.4 Middle East and Africa PEST Analysis
3.3.5 South America PEST Analysis
4. Surety Market – Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Ageing infrastructure of developed economies creating a need for massive investments in its restoration
4.1.2 Global acceptance of Public Private Partnership Model anticipated to drive the Surety market growth
4.2 Key Market Restraints
4.2.1 Shortage of properly trained underwriter in the Surety Industry
4.3 Key Market Opportunities
4.3.1 Rising need for innovative insurance solutions to offer prosperous opportunity to Surety market
4.4 Future Trends
4.4.1 Adoption of Surety bond by diverse end-use industries
4.5 Impact Analysis Of Drivers And Restraints
5. Surety – Global Market Analysis
5.1 Global Surety Market Overview
5.2 Global Surety Market Forecast And Analysis
6. Surety Market Revenue And Forecasts To 2027 – Bond Type
6.1 Overview
6.2 Global Surety Market Breakdown, By Bond Type, 2019 & 2027
6.3 Contract Surety Bond
6.3.1 Overview
6.3.2 Contract Surety Bond Market Forecasts and Analysis
6.4 Commercial Surety Bond
6.4.1 Overview
6.4.2 Commercial Surety Bond Market Forecasts and Analysis
6.5 Fidelity Surety Bond
6.5.1 Overview
6.5.2 Fidelity Surety Bond Market Forecasts and Analysis
6.6 Court Surety Bond
6.6.1 Overview
6.6.2 Court Surety Bond Market Forecasts and Analysis
7. Global Surety Market – Geographical Analysis
7.1 Overview
7.2 North America Surety Market Revenue And Forecasts To 2027
7.2.1 North America Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.2.2 North America Surety Market, by Bond Type
7.2.3 North America Surety Market Breakdown, by Key Countries
7.2.3.1 U.S. Surety Market Revenue and Forecasts to 2027 (US$ MILLION)
7.2.3.1.1 US Surety Market, by Bond Type
7.2.3.2 Canada Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.2.3.2.1 Canada Surety Market, by Bond Type
7.2.3.3 Mexico Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.2.3.3.1 Mexico Surety Market, by Bond Type
7.3 Europe Surety Market Revenue And Forecasts To 2027
7.3.1 Overview
7.3.2 Europe Surety Market, by Bond Type
7.3.3 Europe Surety Market Breakdown by Key Countries
7.3.3.1 UK Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.3.3.1.1 UK Surety Market, by Bond Type
7.3.3.2 Germany Surety Market Revenue and Forecast to 2027 (US$ Million)
7.3.3.2.1 Germany Surety Market, by Bond Type
7.3.3.3 France Surety Market Revenue and Forecast to 2027 (US$ Million)
7.3.3.3.1 France Surety Market, by Bond Type
7.3.3.4 Spain Surety Market Revenue and Forecast to 2027 (US$ Million)
7.3.3.4.1 Spain Surety Market, by Bond Type
7.3.3.5 Italy Surety Market Revenue and Forecast to 2027 (US$ Million)
7.3.3.5.1 Italy Surety Market, by Bond Type
7.3.3.6 Rest of Europe Surety Market Revenue and Forecast to 2027 (US$ Million)
7.3.3.6.1 Rest of Europe Surety Market, by Bond Type
7.4 Asia-Pacific Surety Market Revenue And Forecasts To 2027
7.4.1 Overview
7.4.2 APAC Surety Market, by Bond Type
7.4.3 Asia-Pacific Surety Market Breakdown by Key Countries
7.4.3.1 South Korea Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.4.3.1.1 South Korea Surety Market, by Bond Type
7.4.3.2 China Surety Market Revenue and Forecast to 2027 (US$ Million)
7.4.3.2.1 China Surety Market, by Bond Type
7.4.3.3 Australia Surety Market Revenue and Forecast to 2027 (US$ Million)
7.4.3.3.1 Australia Surety Market, by Bond Type
7.4.3.4 India Surety Market Revenue and Forecast to 2027 (US$ Million)
7.4.3.4.1 India Surety Market, by Bond Type
7.4.3.5 Japan Surety Market Revenue and Forecast to 2027 (US$ Million)
7.4.3.5.1 Japan Surety Market, by Bond Type
7.4.3.6 Rest of APAC Surety Market Revenue and Forecast to 2027 (US$ Million)
7.4.3.6.1 Rest of APAC Surety Market, by Bond Type
7.5 MEA Surety Market Revenue And Forecasts To 2027
7.5.1 Overview
7.5.2 MEA Surety Market, by Bond Type
7.5.3 MEA Surety Market Breakdown by Key Countries
7.5.3.1 Saudi Arabia Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.5.3.1.1 Saudi Arabia Surety Market, by Bond Type
7.5.3.2 UAE Surety Market Revenue and Forecast to 2027 (US$ Million)
7.5.3.2.1 UAE Surety Market, by Bond Type
7.5.3.3 South Africa Surety Market Revenue and Forecast to 2027 (US$ Million)
7.5.3.3.1 South Africa Surety Market, by Bond Type
7.5.3.4 Rest of MEA Surety market Revenue and Forecasts to 2027 (US$ Million)
7.5.3.4.1 Rest of MEA Surety Market, by Bond Type
7.6 South America Surety Market Revenue And Forecasts To 2027
7.6.1 Overview
7.6.2 SAM Surety Market, by Bond Type
7.6.3 SAM Surety Market Breakdown by Key Countries
7.6.3.1 Brazil Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.6.3.1.1 Brazil Surety Market, by Bond Type
7.6.3.2 Rest of SAM Surety Market Revenue and Forecasts to 2027 (US$ Million)
7.6.3.2.1 Rest of SAM Surety Market, by Bond Type
8. Impact Of Covid-19 Outbreak
8.1 Impact Of Covid-19 Pandemic On Global Surety Market
8.1.1 North America: Impact Assessment of COVID-19 Pandemic
8.1.2 Europe: Impact Assessment of COVID-19 Pandemic
8.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
8.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
8.1.5 South America: Impact Assessment of COVID-19 Pandemic
9. Industry Landscape
9.1 Market Initiative
9.2 Merger And Acquisition
10. Competitive Landscape
10.1 Competitive Service Mapping
10.2 Market Positioning – Global Top 5 Players Ranking
11. Surety Market, Key Company Profiles
11.1 Crum & Forster
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Financial Overview
11.1.4 SWOT Analysis
11.1.5 Key Developments
11.2 CNA Financial Corporation
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.2.5 Key Developments
11.3 American Financial Group, Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Financial Overview
11.3.4 SWOT Analysis
11.3.5 Key Developments
11.4 The Travelers Indemnity Company
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Financial Overview
11.4.4 SWOT Analysis
11.4.5 Key Developments
11.5 Liberty Mutual Insurance Company
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Financial Overview
11.5.4 SWOT Analysis
11.5.5 Key Developments
11.6 The Hartford
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Financial Overview
11.6.4 SWOT Analysis
11.6.5 Key Developments
11.7 HCC Insurance Holdings, Inc. (Tokio Marine & Nichido Fire Insurance Co., Ltd.)
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Financial Overview
11.7.4 SWOT Analysis
11.7.5 Key Developments
11.8 Chubb
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 Amtrust Financial Services
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Financial Overview
11.9.4 SWOT Analysis
11.9.5 Key Developments
11.10 IFIC Security Group
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Financial Overview
11.10.4 SWOT Analysis
11.10.5 Key Developments
12. APPENDIX
12.1 About the Publisher
12.2 Glossary
12.3 Methodology
12.3.1 COVERAGE
12.3.2 Secondary Research
12.3.3 Primary Research

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • CRUM & FORSTER
  • CAN Financial Corporation
  • American Financial Group, Inc.
  • The Travellers Indemnity Company
  • Liberty Mutual Insurance Company
  • The Hartford
  • HCC Insurance Holdings, Inc.
  • CHUBB
  • AmTrust Financial Services
  • IFIC Security Group