The Asia Pacific Trade Credit Insurance Market should witness market growth of 12.3% CAGR during the forecast period (2022-2028).
Trade credit insurance has been increasingly popular in India year over year as more companies worry about payment risks brought on by the financial crisis and payment delays brought on by the epidemic. Additionally, the usage of data analytics and blockchain in trade finance, as well as the introduction of digital technologies to streamline banking and insurance services, are anticipated to propel the market.
Therefore, it is projected that over the forecast period, the advent of Artificial Intelligence (AI) and the Internet of Things (IoT) technology, combined with cutting-edge computer technology, such as machine learning and big data, will give financiers access to tools for reliable data.
To withstand the fierce competition and increase their market share, top industry players are implementing methods like partnerships, acquisitions & mergers, collaborations, and agreements. For instance, a contract for strategic cooperation between Euler Hermes and Bisnode was inked in July 2020. As part of this agreement, Bisnode was required to provide local and international data to enable the servicing of credit insurance provided in Poland by Euler Hermes.
Shipments from Asian nations, particularly during the Asian financial crisis, were negatively impacted by the spread of regional financial crises. In certain cases, imports and exports were halted because confirming banks did not trust letters of credit issued in crisis-affected nations. Exporting SMEs were much more exposed during financial crises in Japan because SMEs were much more likely to be connected to failing banks.
The China market dominated the Asia Pacific Trade Credit Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1, 269.9 million by 2028. The Japan market is estimated to grow a CAGR of 11.7% during (2022-2028). Additionally, The India market would experience a CAGR of 13% during (2022-2028).
Based on Coverage, the market is segmented into Whole Turnover and Single Buyer. Based on Application, the market is segmented into International and Domestic. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Food & Beverage, Healthcare, Automotive, Energy, IT & Telecom and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allianz Trade(Allianz Group), Atradius N.V., Coface SA, American International Group, Inc., Zurich Insurance Group Ltd., Chubb Limited, QBE Insurance Group Limited, Great American Insurance Company, and AON Plc.
Trade credit insurance has been increasingly popular in India year over year as more companies worry about payment risks brought on by the financial crisis and payment delays brought on by the epidemic. Additionally, the usage of data analytics and blockchain in trade finance, as well as the introduction of digital technologies to streamline banking and insurance services, are anticipated to propel the market.
Therefore, it is projected that over the forecast period, the advent of Artificial Intelligence (AI) and the Internet of Things (IoT) technology, combined with cutting-edge computer technology, such as machine learning and big data, will give financiers access to tools for reliable data.
To withstand the fierce competition and increase their market share, top industry players are implementing methods like partnerships, acquisitions & mergers, collaborations, and agreements. For instance, a contract for strategic cooperation between Euler Hermes and Bisnode was inked in July 2020. As part of this agreement, Bisnode was required to provide local and international data to enable the servicing of credit insurance provided in Poland by Euler Hermes.
Shipments from Asian nations, particularly during the Asian financial crisis, were negatively impacted by the spread of regional financial crises. In certain cases, imports and exports were halted because confirming banks did not trust letters of credit issued in crisis-affected nations. Exporting SMEs were much more exposed during financial crises in Japan because SMEs were much more likely to be connected to failing banks.
The China market dominated the Asia Pacific Trade Credit Insurance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1, 269.9 million by 2028. The Japan market is estimated to grow a CAGR of 11.7% during (2022-2028). Additionally, The India market would experience a CAGR of 13% during (2022-2028).
Based on Coverage, the market is segmented into Whole Turnover and Single Buyer. Based on Application, the market is segmented into International and Domestic. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Food & Beverage, Healthcare, Automotive, Energy, IT & Telecom and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allianz Trade(Allianz Group), Atradius N.V., Coface SA, American International Group, Inc., Zurich Insurance Group Ltd., Chubb Limited, QBE Insurance Group Limited, Great American Insurance Company, and AON Plc.
Scope of the Study
By Coverage
- Whole Turnover
- Single Buyer
By Application
- International
- Domestic
By Organization Size
- Large Enterprises
- SMEs
By Vertical
- Food & Beverage
- Healthcare
- Automotive
- Energy
- IT & Telecom
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Allianz Trade(Allianz Group)
- Atradius N.V.
- Coface SA
- American International Group, Inc.
- Zurich Insurance Group Ltd.
- Chubb Limited
- QBE Insurance Group Limited
- Great American Insurance Company
- AON Plc
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Trade Credit Insurance Market, by Coverage
1.4.2 Asia Pacific Trade Credit Insurance Market, by Application
1.4.3 Asia Pacific Trade Credit Insurance Market, by Organization Size
1.4.4 Asia Pacific Trade Credit Insurance Market, by Vertical
1.4.5 Asia Pacific Trade Credit Insurance Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships: 2019, Jan - 2022, Nov) Leading Players
Chapter 4. Asia Pacific Trade Credit Insurance Market by Coverage
4.1 Asia Pacific Whole Turnover Market by Country
4.2 Asia Pacific Single Buyer Market by Country
Chapter 5. Asia Pacific Trade Credit Insurance Market by Application
5.1 Asia Pacific International Market by Country
5.2 Asia Pacific Domestic Market by Country
Chapter 6. Asia Pacific Trade Credit Insurance Market by Organization Size
6.1 Asia Pacific Large Enterprises Market by Country
6.2 Asia Pacific SMEs Market by Country
Chapter 7. Asia Pacific Trade Credit Insurance Market by Vertical
7.1 Asia Pacific Food & Beverage Market by Country
7.2 Asia Pacific Healthcare Market by Country
7.3 Asia Pacific Automotive Market by Country
7.4 Asia Pacific Energy Market by Country
7.5 Asia Pacific IT & Telecom Market by Country
7.6 Asia Pacific Others Market by Country
Chapter 8. Asia Pacific Trade Credit Insurance Market by Country
8.1 China Trade Credit Insurance Market
8.1.1 China Trade Credit Insurance Market by Coverage
8.1.2 China Trade Credit Insurance Market by Application
8.1.3 China Trade Credit Insurance Market by Organization Size
8.1.4 China Trade Credit Insurance Market by Vertical
8.2 Japan Trade Credit Insurance Market
8.2.1 Japan Trade Credit Insurance Market by Coverage
8.2.2 Japan Trade Credit Insurance Market by Application
8.2.3 Japan Trade Credit Insurance Market by Organization Size
8.2.4 Japan Trade Credit Insurance Market by Vertical
8.3 India Trade Credit Insurance Market
8.3.1 India Trade Credit Insurance Market by Coverage
8.3.2 India Trade Credit Insurance Market by Application
8.3.3 India Trade Credit Insurance Market by Organization Size
8.3.4 India Trade Credit Insurance Market by Vertical
8.4 South Korea Trade Credit Insurance Market
8.4.1 South Korea Trade Credit Insurance Market by Coverage
8.4.2 South Korea Trade Credit Insurance Market by Application
8.4.3 South Korea Trade Credit Insurance Market by Organization Size
8.4.4 South Korea Trade Credit Insurance Market by Vertical
8.5 Singapore Trade Credit Insurance Market
8.5.1 Singapore Trade Credit Insurance Market by Coverage
8.5.2 Singapore Trade Credit Insurance Market by Application
8.5.3 Singapore Trade Credit Insurance Market by Organization Size
8.5.4 Singapore Trade Credit Insurance Market by Vertical
8.6 Malaysia Trade Credit Insurance Market
8.6.1 Malaysia Trade Credit Insurance Market by Coverage
8.6.2 Malaysia Trade Credit Insurance Market by Application
8.6.3 Malaysia Trade Credit Insurance Market by Organization Size
8.6.4 Malaysia Trade Credit Insurance Market by Vertical
8.7 Rest of Asia Pacific Trade Credit Insurance Market
8.7.1 Rest of Asia Pacific Trade Credit Insurance Market by Coverage
8.7.2 Rest of Asia Pacific Trade Credit Insurance Market by Application
8.7.3 Rest of Asia Pacific Trade Credit Insurance Market by Organization Size
8.7.4 Rest of Asia Pacific Trade Credit Insurance Market by Vertical
Chapter 9. Company Profiles
9.1 Allianz Trade (Allianz Group)
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental Analysis
9.1.4 Recent strategies and developments:
9.1.4.1 Partnerships, Collaborations, and Agreements:
9.1.5 SWOT Analysis
9.2 Zurich Insurance Group Ltd.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.2.5 SWOT Analysis
9.3 Chubb Limited
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Recent strategies and developments:
9.3.3.1 Partnerships, Collaborations, and Agreements:
9.3.3.2 Product Launches and Product Expansions:
9.3.3.3 Acquisition and Mergers:
9.3.4 SWOT Analysis
9.4 Aon plc
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional Analysis
9.4.4 Recent strategies and developments:
9.4.4.1 Acquisition and Mergers:
9.5 American International Group, Inc. (AIG)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 SWOT Analysis
9.6 Coface SA
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Recent strategies and developments:
9.6.4.1 Partnerships, Collaborations, and Agreements:
9.6.4.2 Acquisition and Mergers:
9.7 Atradius N.V. (Grupo Compania Espanola de Credito y Caucion SL) (Grupo Catalana Occidente S.A.)
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Recent strategies and developments:
9.7.4.1 Partnerships, Collaborations, and Agreements:
9.8 Great American Insurance Company (American Financial Group)
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Recent strategies and developments:
9.8.3.1 Partnerships, Collaborations, and Agreements:
9.9 QBE Insurance Group Limited (QBE Group)
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Regional Analysis
Companies Mentioned
- Allianz Trade(Allianz Group)
- Atradius N.V.
- Coface SA
- American International Group, Inc.
- Zurich Insurance Group Ltd.
- Chubb Limited
- QBE Insurance Group Limited
- Great American Insurance Company
- AON Plc
Methodology
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