Motor Vehicle Insurance - Global Strategic Business Report

Global Motor Vehicle Insurance Market to Reach $1.9 Billion by 2030

The global market for Motor Vehicle Insurance estimated at US$1.1 Billion in the year 2022, is projected to reach a revised size of US$1.9 Billion by 2030, growing at a CAGR of 7.3% over the analysis period 2022-2030. Personal, one of the segments analyzed in the report, is projected to record 7.7% CAGR and reach US$1.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Commercial segment is readjusted to a revised 6.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $287 Million, While China is Forecast to Grow at 11% CAGR

The Motor Vehicle Insurance market in the U.S. is estimated at US$287 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$465.3 Million by the year 2030 trailing a CAGR of 11% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 6.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

Select Competitors (Total 46 Featured) -

• Allianz SE
• Allstate Insurance Company
• Berkshire Hathaway Inc.
• Ping An Insurance (Group) Company of China, ltd.
• Zurich Instruments AG

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