The UK’s Boiler Insurance Market is estimated to be USD 638.85 Mn in 2023 and is expected to reach USD 1308.03 Mn by 2028, growing at a CAGR of 15.41%.
Surge in small & medium-sized enterprises expanding their businesses and rise in demand for third-party liability coverage in emerging economies is expected to offer remunerative opportunities
Market DynamicsMarket dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
Market SegmentationsThe UK’s Boiler Insurance Market is segmented based on Type, Coverage Type, Fuel, and End User.
- By Type, the market is classified into Fire-tube and Water-tube.
- By Coverage Type, the market is classified into Boiler Cover, Boiler & Central Heating, Boiler, Central Heating, and Plumbing & Wiring Cove.
- By Fuel, the market is classified into Natural Gas, Coal, and Oil.
- By End User, the market is classified into Chemicals, Refineries, Metal and Mining, Food and Beverage, and Others.
Company ProfilesThe report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Hometree Insurance Boiler, Prominence Support, Aviva, SSE Energy Services, WarrantyPeople, etc.
Competitive QuadrantThe report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff AnalysisThe report presents a detailed Ansoff matrix analysis for the UK’s Boiler Insurance Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the UK’s Boiler Insurance Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the UK’s Boiler Insurance Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the UK Boiler Insurance Market
What is the estimated value of the UK Boiler Insurance Market?
The UK Boiler Insurance Market was estimated to be valued at $638.85 Million in 2023.
What is the growth rate of the UK Boiler Insurance Market?
The growth rate of the UK Boiler Insurance Market is 15.4%, with an estimated value of $1308.03 Million by 2028.
What is the forecasted size of the UK Boiler Insurance Market?
The UK Boiler Insurance Market is estimated to be worth $1308.03 Million by 2028.
Who are the key companies in the UK Boiler Insurance Market?
Key companies in the UK Boiler Insurance Market include 24|7 Home Rescue Boiler, Aviva, AXA Home Assistance Insurance, British Gas, Corgi, EDF Energy, EON Energy, Hometree Insurance Boiler and Prominence Support.
|No. of Pages||170|
|Forecast Period||2023 - 2028|
| Estimated Market Value ( USD ||$ 638.85 Million|
| Forecasted Market Value ( USD ||$ 1308.03 Million|
|Compound Annual Growth Rate||15.4%|
|Regions Covered||United Kingdom|
|No. of Companies Mentioned||15|
Table of Contents1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.4 Years Considered
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1.1 Increase in Demand for Boiler Insurance among the Industrial and Commercial Sector
4.1.2 High Cost of Boilers and Boiler Repair & Services
4.1.3 Specialized Services Offered
4.2.1 Extended Warranties of Boilers
4.3.1 Increase in Demand for Third-Party Liability Coverage
4.3.2 Surge in Small & Medium Boiler Insurance Providers
4.4.1 Unfavourable Insurance Policy
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of Covid-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 UK’s Boiler Insurance Market, By Type
7 UK’s Boiler Insurance Market, By Coverage Type
7.2 Boiler Cover
7.3 Boiler & Central Heating
7.4 Boiler, Central Heating, Plumbing & Wiring Cover
8 UK’s Boiler Insurance Market, By Fuel
8.2 Natural Gas
9 UK’s Boiler Insurance Market, By End-User
9.4 Metal and Mining
9.5 Food and Beverage
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 24|7 Home Rescue Boiler
11.3 AXA Home Assistance Insurance
11.4 British Gas
11.6 EDF Energy
11.7 EON Energy
11.8 Hometree Insurance Boiler
11.10 Prominence Support
11.11 Scottish Power
11.12 SSE Energy Services
- 24|7 Home Rescue Boiler
- AXA Home Assistance Insurance
- British Gas
- EDF Energy
- EON Energy
- Hometree Insurance Boiler
- Prominence Support
- Scottish Power
- SSE Energy Services