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Commercial Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

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    Report

  • 145 Pages
  • April 2022
  • Region: Global
  • IMARC Group
  • ID: 5577850
UP TO OFF until Dec 31st 2022
The global commercial insurance market reached a value of US$ 728.0 billion in 2021. Looking forward, the market is projected to reach a value of US$ 1,123.5 billion by 2027, exhibiting a CAGR of 7.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.



Commercial insurance refers to a type of coverage for businesses and corporations designed to protect the organization, its employees, and its ownership. Some commonly offered commercial insurance policies include property insurance, general liability, commercial auto insurance, workers’ compensation insurance, business interruption insurance, cyber liability insurance, and crime coverage. It covers the company against losses and risks, such as property damage, injury to the employees, cyberattacks, thefts, natural disasters, data breaches, and liability lawsuits that could potentially disrupt the business operations. In recent years, commercial insurance has rapidly gained traction among startups and enterprises as it protects the assets of the insured business from unexpected events and covers the financial losses incurred.

Commercial Insurance Market Trends


Commercial insurance offers security for business operations, protects the company’s reputation, and ensures the wellbeing of its employees and financial situation. As a result, the rising awareness regarding the benefits of commercial insurance policies among enterprises represents the primary factor driving the market growth. Besides this, the increasing number of small- and medium-sized enterprises (SMEs) and the growing need to protect businesses against unexpected losses are augmenting the demand for commercial insurance. Additionally, regional governments of various countries are taking favorable initiatives to encourage employers and business owners to purchase different types of coverage, such as workers’ compensation insurance for employees and commercial auto insurance for business-owned vehicles. Along with this, the rising number of commercial insurance providers is catalyzing the market growth. Furthermore, the leading players are adopting advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to offer enhanced services like personalized and convenient insurance plans with lower premium costs to improve customer loyalty and gain a competitive edge. Other factors, including the growing usage of telematics devices across various industries, rising competition among businesses, technological advancements, and rapid industrialization, are also creating a favorable outlook for the market.

Key Market Segmentation


This report provides an analysis of the key trends in each sub-segment of the global commercial insurance market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on type, enterprise size, distribution channel and industry vertical.

Breakup by Type:

  • Liability Insurance
  • Commercial Motor Insurance
  • Commercial Property Insurance
  • Marine Insurance
  • Others

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Breakup by Distribution Channel:

  • Agents and Brokers
  • Direct Response
  • Others

Breakup by Industry Vertical:

  • Transportation and Logistics
  • Manufacturing
  • Construction
  • IT and Telecom
  • Healthcare
  • Energy and Utilities
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape


The competitive landscape of the industry has also been examined along with the profiles of the key players being Allianz SE, American International Group Inc., Aon plc, Aviva plc, Axa S.A., Chubb Limited, Direct Line Insurance Group plc, Marsh & McLennan Companies Inc., Willis Towers Watson Public Limited Company and Zurich Insurance Group Ltd.

Key Questions Answered in This Report

  • How has the global commercial insurance market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global commercial insurance market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the enterprise size?
  • What is the breakup of the market based on the distribution channel?
  • What is the breakup of the market based on the industry vertical?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global commercial insurance market and who are the key players?
  • What is the degree of competition in the industry?
Frequently Asked Questions about the Global Commercial Insurance Market

What is the estimated value of the Global Commercial Insurance Market?

The Global Commercial Insurance Market was estimated to be valued at $728 Billion in 2021.

What is the growth rate of the Global Commercial Insurance Market?

The growth rate of the Global Commercial Insurance Market is 7.5%, with an estimated value of $1123.5 Billion by 2027.

What is the forecasted size of the Global Commercial Insurance Market?

The Global Commercial Insurance Market is estimated to be worth $1123.5 Billion by 2027.

Who are the key companies in the Global Commercial Insurance Market?

Key companies in the Global Commercial Insurance Market include Allianz SE, American International Group Inc., Aon plc, Aviva plc, Axa S.A., Chubb Limited, Direct Line Insurance Group plc, Marsh & McLennan Companies Inc. and Zurich Insurance Group Ltd.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Commercial Insurance Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Liability Insurance
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Commercial Motor Insurance
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Commercial Property Insurance
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Marine Insurance
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast
7 Market Breakup by Enterprise Size
7.1 Large Enterprises
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Small and Medium-sized Enterprises
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Agents and Brokers
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Direct Response
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Others
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Industry Vertical
9.1 Transportation and Logistics
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Manufacturing
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Construction
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 IT and Telecom
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Healthcare
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Energy and Utilities
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Allianz SE
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 American International Group Inc.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Aon plc
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.3.3 Financials
15.3.3.4 SWOT Analysis
15.3.4 Aviva plc
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Axa S.A.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 Chubb Limited
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Direct Line Insurance Group plc
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.8 Marsh & McLennan Companies Inc.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Willis Towers Watson Public Limited Company
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Zurich Insurance Group Ltd.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
List of Figures
Figure 1: Global: Commercial Insurance Market: Major Drivers and Challenges
Figure 2: Global: Commercial Insurance Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Commercial Insurance Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Commercial Insurance Market: Breakup by Type (in %), 2021
Figure 5: Global: Commercial Insurance Market: Breakup by Enterprise Size (in %), 2021
Figure 6: Global: Commercial Insurance Market: Breakup by Distribution Channel (in %), 2021
Figure 7: Global: Commercial Insurance Market: Breakup by Industry Vertical (in %), 2021
Figure 8: Global: Commercial Insurance Market: Breakup by Region (in %), 2021
Figure 9: Global: Commercial Insurance (Liability Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Commercial Insurance (Liability Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Commercial Insurance (Commercial Motor Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Commercial Insurance (Commercial Motor Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Commercial Insurance (Commercial Property Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Commercial Insurance (Commercial Property Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Commercial Insurance (Marine Insurance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Commercial Insurance (Marine Insurance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Commercial Insurance (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Commercial Insurance (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Commercial Insurance (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Commercial Insurance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Commercial Insurance (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Commercial Insurance (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Commercial Insurance (Agents and Brokers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Commercial Insurance (Agents and Brokers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Commercial Insurance (Direct Response) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Commercial Insurance (Direct Response) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Commercial Insurance (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Commercial Insurance (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Commercial Insurance (Transportation and Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Commercial Insurance (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Commercial Insurance (Manufacturing) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Commercial Insurance (Manufacturing) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Commercial Insurance (Construction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Commercial Insurance (Construction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Commercial Insurance (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Commercial Insurance (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Global: Commercial Insurance (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Global: Commercial Insurance (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Global: Commercial Insurance (Energy and Utilities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Global: Commercial Insurance (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Global: Commercial Insurance (Other Industry Verticals) Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Global: Commercial Insurance (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: North America: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: North America: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: United States: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: United States: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Canada: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Canada: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Asia-Pacific: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Asia-Pacific: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: China: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: China: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Japan: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Japan: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: India: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: India: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: South Korea: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: South Korea: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Australia: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Australia: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Indonesia: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Indonesia: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Others: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Others: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Europe: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Europe: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Germany: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Germany: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: France: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: France: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: United Kingdom: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: United Kingdom: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Italy: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Italy: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Spain: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Spain: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Russia: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Russia: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Others: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Others: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Latin America: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Latin America: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Brazil: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Brazil: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 85: Mexico: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 86: Mexico: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 87: Others: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 88: Others: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 89: Middle East and Africa: Commercial Insurance Market: Sales Value (in Million US$), 2016 & 2021
Figure 90: Middle East and Africa: Commercial Insurance Market: Breakup by Country (in %), 2021
Figure 91: Middle East and Africa: Commercial Insurance Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Global: Commercial Insurance Industry: SWOT Analysis
Figure 93: Global: Commercial Insurance Industry: Value Chain Analysis
Figure 94: Global: Commercial Insurance Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Commercial Insurance Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Commercial Insurance Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Commercial Insurance Market Forecast: Breakup by Enterprise Size (in Million US$), 2022-2027
Table 4: Global: Commercial Insurance Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 5: Global: Commercial Insurance Market Forecast: Breakup by Industry Vertical (in Million US$), 2022-2027
Table 6: Global: Commercial Insurance Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Commercial Insurance Market: Competitive Structure
Table 8: Global: Commercial Insurance Market: Key Players

Companies Mentioned

  • Allianz SE
  • American International Group Inc.
  • Aon plc
  • Aviva plc
  • Axa S.A.
  • Chubb Limited
  • Direct Line Insurance Group plc
  • Marsh & McLennan Companies Inc.
  • Willis Towers Watson Public Limited Company
  • Zurich Insurance Group Ltd

Methodology

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