This report describes and explains the auto extended warranty market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global auto extended warranty market reached a value of nearly $32.76 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.48% since 2019. The market is expected to grow from $32.76 billion in 2024 to $45.5 billion in 2029 at a rate of 6.79%. The market is then expected to grow at a CAGR of 6.08% from 2029 and reach $61.13 billion in 2034.
Growth in the historic period resulted from the growing automotive leasing, growing demand for used vehicles, increasing vehicle ownership and supportive government initiatives. Factors that negatively affected growth in the historic period were strict regulatory oversight and limited awareness.
Going forward, the rising demand for electric vehicles, rise of e-commerce, rising consumer preference for high-end cars with luxury features and growth of ride-sharing and fleet vehicles will drive the growth. Factor that could hinder the growth of the auto extended warranty market in the future include lack of trust in warranty providers and OEM (Original Equipment Manufacturer) warranty improvements.
North America was the largest region in the auto extended warranty market, accounting for 41.87% or $13.71 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the auto extended warranty market will be Asia-Pacific and North America where growth will be at CAGRs of 9.35% and 6.66% respectively. These will be followed by Western Europe and Africa where the markets are expected to grow at CAGRs of 5.87% and 5.47% respectively.
The global auto extended warranty market is fragmented, with large number of small players operating in the market. The top ten competitors in the market made up to 8.95% of the total market in 2023. Endurance Warranty Services LLC was the largest competitor with a 1.59% share of the market, followed by Assurant Inc with 1.10%, Allstate Insurance Company with 1.06%, Zurich Insurance Group Ltd with 1.04%, Tata AIG General Insurance Company with 0.94%, Bajaj Allianz General Insurance Co with 0.80%, Mapfre Life Insurance Co with 0.79%, Ally Financial Inc with 0.77%, CarShield LLC with 0.45% and Hyundai Motor Company with 0.40%.
The auto extended warranty market is segmented by product into powertrain warranty, component warranty, bumper-to-bumper warranty and other products. The powertrain warranty market was the largest segment of the auto extended warranty market segmented by product, accounting for 45.99% or $15.06 billion of the total in 2024. Going forward, the component warranty segment is expected to be the fastest growing segment in the auto extended warranty market segmented by product, at a CAGR of 7.77% during 2024-2029.
The auto extended warranty market is segmented by vehicle age into new vehicle and used vehicle. The used vehicle market was the largest segment of the auto extended warranty market segmented by vehicle age, accounting for 59.12% or $19.36 billion of the total in 2024. Going forward, the new vehicle segment is expected to be the fastest growing segment in the auto extended warranty market segmented by vehicle age, at a CAGR of 7.74% during 2024-2029.
The auto extended warranty market is segmented by distribution channel into auto dealers or manufacturers and third-party providers. The auto dealers or manufacturers market was the largest segment of the auto extended warranty market segmented by distribution channel, accounting for 66.13% or $21.66 billion of the total in 2024. Going forward, the third-party providers segment is expected to be the fastest growing segment in the auto extended warranty market segmented by distribution channel, at a CAGR of 8.59% during 2024-2029.
The auto extended warranty market is segmented by application into passenger vehicles and commercial vehicles. The passenger vehicles market was the largest segment of the auto extended warranty market segmented by application, accounting for 68.30% or $22.37 billion of the total in 2024. Going forward, the passenger vehicles segment is expected to be the fastest growing segment in the auto extended warranty market segmented by application, at a CAGR of 6.94% during 2024-2029.
The top opportunities in the auto extended warranty market segmented by product will arise in the powertrain warranty segment, which will gain $6.09 billion of global annual sales by 2029. The top opportunities in the auto extended warranty market segmented by vehicle age will arise in the used vehicle segment, which will gain $6.94 billion of global annual sales by 2029. The top opportunities in the auto extended warranty market segmented by distribution channel will arise in the auto dealers or manufacturers segment, which will gain $7.09 billion of global annual sales by 2029. The top opportunities in the auto extended warranty market segmented by application will arise in the passenger vehicles segment, which will gain $8.92 billion of global annual sales by 2029. The auto extended warranty market size will gain the most in the USA at $4.55 billion.
Market-trend-based strategies for the auto extended warranty market include role of collaborations in advancing warranty solutions, the rise of lifetime powertrain warranties in vehicle protection, focus on innovative vehicle protection plans for long-term reliability, focus on extended protection plans for proactive vehicle maintenance and focus on revolutionizing auto warranty services with transferable coverage plans.
Player-adopted strategies in the auto extended warranty market include focus on strengthening operational capabilities through strategic partnerships and focus on strengthening business operations through the launch of new products and solutions.
To take advantage of the opportunities, the analyst recommends the auto extended warranty to focus on expanding innovative powertrain warranty offerings, focus on expanding flexible and value-driven protection programs, focus on developing comprehensive and accessible long-term protection plans, focus on expanding flexible post-purchase warranty programs, focus on component warranty segment to maximize growth, expand in emerging markets, continue to focus on developed markets, focus on strengthening distribution through strategic partnerships, focus on optimizing tiered pricing to match customer risk profiles, focus on digital advertising and performance-based outreach, focus on partnerships with automotive sales and service providers and focus on tailoring outreach to vehicle owners by age and usage patterns.
The global auto extended warranty market reached a value of nearly $32.76 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.48% since 2019. The market is expected to grow from $32.76 billion in 2024 to $45.5 billion in 2029 at a rate of 6.79%. The market is then expected to grow at a CAGR of 6.08% from 2029 and reach $61.13 billion in 2034.
Growth in the historic period resulted from the growing automotive leasing, growing demand for used vehicles, increasing vehicle ownership and supportive government initiatives. Factors that negatively affected growth in the historic period were strict regulatory oversight and limited awareness.
Going forward, the rising demand for electric vehicles, rise of e-commerce, rising consumer preference for high-end cars with luxury features and growth of ride-sharing and fleet vehicles will drive the growth. Factor that could hinder the growth of the auto extended warranty market in the future include lack of trust in warranty providers and OEM (Original Equipment Manufacturer) warranty improvements.
North America was the largest region in the auto extended warranty market, accounting for 41.87% or $13.71 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the auto extended warranty market will be Asia-Pacific and North America where growth will be at CAGRs of 9.35% and 6.66% respectively. These will be followed by Western Europe and Africa where the markets are expected to grow at CAGRs of 5.87% and 5.47% respectively.
The global auto extended warranty market is fragmented, with large number of small players operating in the market. The top ten competitors in the market made up to 8.95% of the total market in 2023. Endurance Warranty Services LLC was the largest competitor with a 1.59% share of the market, followed by Assurant Inc with 1.10%, Allstate Insurance Company with 1.06%, Zurich Insurance Group Ltd with 1.04%, Tata AIG General Insurance Company with 0.94%, Bajaj Allianz General Insurance Co with 0.80%, Mapfre Life Insurance Co with 0.79%, Ally Financial Inc with 0.77%, CarShield LLC with 0.45% and Hyundai Motor Company with 0.40%.
The auto extended warranty market is segmented by product into powertrain warranty, component warranty, bumper-to-bumper warranty and other products. The powertrain warranty market was the largest segment of the auto extended warranty market segmented by product, accounting for 45.99% or $15.06 billion of the total in 2024. Going forward, the component warranty segment is expected to be the fastest growing segment in the auto extended warranty market segmented by product, at a CAGR of 7.77% during 2024-2029.
The auto extended warranty market is segmented by vehicle age into new vehicle and used vehicle. The used vehicle market was the largest segment of the auto extended warranty market segmented by vehicle age, accounting for 59.12% or $19.36 billion of the total in 2024. Going forward, the new vehicle segment is expected to be the fastest growing segment in the auto extended warranty market segmented by vehicle age, at a CAGR of 7.74% during 2024-2029.
The auto extended warranty market is segmented by distribution channel into auto dealers or manufacturers and third-party providers. The auto dealers or manufacturers market was the largest segment of the auto extended warranty market segmented by distribution channel, accounting for 66.13% or $21.66 billion of the total in 2024. Going forward, the third-party providers segment is expected to be the fastest growing segment in the auto extended warranty market segmented by distribution channel, at a CAGR of 8.59% during 2024-2029.
The auto extended warranty market is segmented by application into passenger vehicles and commercial vehicles. The passenger vehicles market was the largest segment of the auto extended warranty market segmented by application, accounting for 68.30% or $22.37 billion of the total in 2024. Going forward, the passenger vehicles segment is expected to be the fastest growing segment in the auto extended warranty market segmented by application, at a CAGR of 6.94% during 2024-2029.
The top opportunities in the auto extended warranty market segmented by product will arise in the powertrain warranty segment, which will gain $6.09 billion of global annual sales by 2029. The top opportunities in the auto extended warranty market segmented by vehicle age will arise in the used vehicle segment, which will gain $6.94 billion of global annual sales by 2029. The top opportunities in the auto extended warranty market segmented by distribution channel will arise in the auto dealers or manufacturers segment, which will gain $7.09 billion of global annual sales by 2029. The top opportunities in the auto extended warranty market segmented by application will arise in the passenger vehicles segment, which will gain $8.92 billion of global annual sales by 2029. The auto extended warranty market size will gain the most in the USA at $4.55 billion.
Market-trend-based strategies for the auto extended warranty market include role of collaborations in advancing warranty solutions, the rise of lifetime powertrain warranties in vehicle protection, focus on innovative vehicle protection plans for long-term reliability, focus on extended protection plans for proactive vehicle maintenance and focus on revolutionizing auto warranty services with transferable coverage plans.
Player-adopted strategies in the auto extended warranty market include focus on strengthening operational capabilities through strategic partnerships and focus on strengthening business operations through the launch of new products and solutions.
To take advantage of the opportunities, the analyst recommends the auto extended warranty to focus on expanding innovative powertrain warranty offerings, focus on expanding flexible and value-driven protection programs, focus on developing comprehensive and accessible long-term protection plans, focus on expanding flexible post-purchase warranty programs, focus on component warranty segment to maximize growth, expand in emerging markets, continue to focus on developed markets, focus on strengthening distribution through strategic partnerships, focus on optimizing tiered pricing to match customer risk profiles, focus on digital advertising and performance-based outreach, focus on partnerships with automotive sales and service providers and focus on tailoring outreach to vehicle owners by age and usage patterns.
Major Market Trends
- The Role of Collaborations in Advancing Warranty Solutions
- The Rise of Lifetime Powertrain Warranties in Vehicle Protection
- Innovative Vehicle Protection Plans for Long-Term Reliability
- Extended Protection Plans for Proactive Vehicle Maintenance
- Revolutionizing Auto Warranty Services With Transferable Coverage Plans
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Auto Extended Warranty Growth Analysis and Strategic Analysis Framework
9 Global Auto Extended Warranty Market Segmentation
10 Auto Extended Warranty Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments in the Auto Extended Warranty Market
24 Opportunities and Strategies
25 Auto Extended Warranty Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Auto Extended Warranty Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global auto extended warranty market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for auto extended warranty? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The auto extended warranty market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider auto extended warranty market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by vehicle age, by distribution channel, by appication.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size and Growth- Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis- Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by product, by vehicle age, by distribution channel and by application in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities and Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations- This section includes recommendations for auto extended warranty providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
1) by Product: Powertrain Warranty; Component Warranty; Bumper-To-Bumper Warranty; Other Products
2) by Vehicle Age: New Vehicle; Used Vehicle
3) by Distribution Channel: Auto Dealers or Manufacturers; Third-Party Providers
4) by Application: Passenger Vehicles; Commercial Vehicles
Key Companies Profiled: Endurance Warranty Services LLC; Assurant Inc; Allstate Insurance Company; Zurich Insurance Group Ltd; Tata AIG General Insurance Company
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; auto extended warranty indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Auto Extended Warranty market report include:- Endurance Warranty Services LLC
- Assurant Inc
- Allstate Insurance Company
- Zurich Insurance Group Ltd
- Tata AIG General Insurance Company
- Bajaj Allianz General Insurance Co.
- Mapfre Life Insurance Co.
- Ally Financial Inc.
- CarShield LLC
- Hyundai Motor Company
- Mercedes-Benz
- Simplesurance
- AION
- Okinawa Autotech
- Chery Holding
- Nissan Motor
- Toyota Motor Corporation
- Honda Motor Co., Ltd
- Maruti Suzuki India Limited
- Tata Motors Limited
- Mitsubishi Motors Corporation
- Kia Corporation
- Maserati
- Ferrari
- Carplus
- Mazda
- BNP Paribas Cardif
- Covéa
- Allianz Partners
- AXA
- Zurich Insurance Group
- Volkswagen AG
- Warranty Direct
- Mondial Assistance
- Autoguard Warranties
- GuardTree Inc
- Tesla Inc
- HelloSafe
- Global Warranty
- SilverRock Automotive
- Protect My Car
- Daimler Truck AG
- Tavant Technologies
- Xcelerate Auto LLC
- Service Payment Plan Inc
- Ally Financial Inc
- Assurant Inc
- AmTrust Financial Services Inc
- American Auto Shield LLC
- CARCHEX
- Concord Auto Protect Inc
- HDI Seguros S.A
- Bradesco Seguros S.A
- Porto Seguro S.A
- Assurant
- Nissan Motor Co Ltd
- Stellantis NV
- AutoPro
- Al Rajhi Company for Cooperative Insurance SJSC
- Servify Technologies Private Limited
- Oman Insurance Company P.S.C
- QBE Automotive Protection
- MP Warranties
- Gulf Plus Warranties
- Guangzhou Automobile Group Co Ltd
- Volvo Car South Africa (Pty) Ltd
- King Price Insurance
- AXA Mansard Insurance
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 340 |
| Published | April 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 32.76 Billion |
| Forecasted Market Value ( USD | $ 61.13 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 69 |
