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Auto Insurance Market By Coverage (Third Party Liability Coverage, Collision/Comprehensive/ Other Optional Coverages) By Distribution Channel (Insurance Agents/Brokers, Direct Response, Banks, Others) By Vehicle Age (New Vehicles, Used Vehicles) By Application (Personal, Commercial) – Growth, Future Prospects & Competitive Analysis, 2016 – 2028

Published: | Report ID: 2697 | Report Format : PDF

About this report

The global auto insurance market report explores the analysis of the auto insurance industry using major parameters. The auto insurance market report consists of investment strategies, the need for investments in the auto insurance industry, and several benefits for investors. This report sets out significant changes in the global technical regulations for the Auto insurance industry and economic and non-economic barriers that are helping the auto insurance market grow. Moreover, the report analyses the regional, global, and country-level historic and forecasted market size. The report provides a comprehensive analysis of major investment propositions, demand and supply gap, STAR analysis, competitors positioning, Tornado analysis and SRC analysis. Major technological developments and other analyses include PESTEL analysis, porter’s five forces analysis, value chain analysis, etc.

REPORT ATTRIBUTE DETAILS
Auto insurance Market by Volume Yes
Auto insurance Market by Value Yes
Auto insurance Market, Tornado Analysis Yes
Auto insurance Market, STAR Analysis Yes
Auto insurance Market, SRC Analysis Yes
Auto insurance Market Pricing Analysis Yes (On Demand)
Auto insurance Market Segment Analysis By Coverage (Third Party Liability Coverage, Collision/Comprehensive/ Other Optional Coverages)

By Distribution Channel (Insurance Agents/Brokers, Direct Response, Banks, and Others)

By Vehicle Age (New Vehicles and Used Vehicles)

By Application (Personal, and Commercial)

Auto insurance Market, Regional Analysis North America (the US and Canada)

Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, Southeast Asia, and the Rest of Asia Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

The Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)

Auto insurance Market Key Companies PEOPLE’S INSURANCE COMPANY OF CHINA, CHINA PACIFIC INSURANCE CO., STATE FARM MUTUAL, AUTOMOBILE INSURANCE, PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD., BERKSHIRE HATHAWAY INC., ADMIRAL GROUP PLC, GEICO, TOKIO MARINE GROUP, ALLIANZ, ALLSTATE INSURANCE COMPANY
Auto insurance Market Competitive Landscape Market Share Analysis

Competitive Benchmarking

Key Players Market Positioning

Geographical Presence Analysis

Major Strategies Adopted

Key Highlights of the report

How are the major segments performing in the auto insurance market?

  • In 2021, the collision/comprehensive/ other optional coverage segment accounted for the maximum share of the global market due to growing massive investments in the insurance industry by different companies.
  • In 2021, the direct response segment was anticipated to hold the maximum share of the global market due to it contributes significantly to economic growth by serving as a go-between for insurers and policyholders.
  • In 2021, the new vehicles segment was anticipated to hold the maximum share of the global market due to growing consumer demand for personal vehicles and rising disposable income.
  • In 2021, the commercial segment was anticipated to hold the maximum share of the global market due to damage in case of an accident and provide repair coverage.

Which region dominated the auto insurance market?

In 2021, the Asia-Pacific region was expected to be the market’s most important region. This is attributable to increasing automotive production and sales in emerging countries such as China, India, and Japan. Moreover, the development of applications provides consolidated information about insurance companies, and competitive pricing is fuelling the market growth. Also,  accessibility of digital vehicle insurance, consumers can purchase and regenerate insurance plans from the convenience of their own homes, which is yet another factor supporting the growth of the regional auto insurance market.

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How is China Market Performing in the auto insurance market?

In 2021, the Asia-Pacific region was anticipated to have the highest global auto insurance market revenue share. Since China implemented the comprehensive auto insurance reform, consumers have generally benefited, especially in the passenger car market.

What is the competitive environment of the auto insurance market?

Major players in the market are engaged in strategic alliances to expand their portfolios and gain a robust footing in the market. The competitive intensity in the global market is very high as several businesses function in it. To sustainably perform in the competitive market, key business players have adopted new strategic approaches to increase their auto insurance market share. Several businesses have shifted towards technological advancement and innovation to deliver better automotive insurance solutions to their customers. Auto insurance firms have been working with software providers to deliver big data-based insurance solutions that satisfy their exact needs and wants. These strategic changes could play an influential role and impact market growth in the future.

Executive Summary

How does auto insurance used in the commercial?

Auto insurance is expected to register significant growth in commercial due to offering financial assurance against physical bodily harm and damage caused by traffic collisions, as well as liability that may result from occurrences in a vehicle.

Which are the key investments by the auto insurance market players?

The presence of leading companies in the market growth of the automobile sector is a result of innovations in product designs to keep up with the heightened consumer demand for personal vehicles. As a result, the auto insurance industry is flourishing due to the rising awareness regarding the importance of vehicle insurance. Furthermore, the digitization of business operations is furthering the region’s auto insurance market.

 

For instance, in India, the push for digitizing financial services led by the government’s Digital India initiative is bringing enhanced awareness regarding the available options for automobile insurance. Furthermore, the development of applications providing consolidated information regarding existing insurance providers and price analysis further boosts the market growth. Moreover, with the online availability of vehicle insurance, customers can purchase and renew insurance policies from the comfort of their homes, which is another factor aiding the market growth of auto insurance.

Auto Insurance Market

What are the major driving factors for the auto insurance market?

Auto insurance covers trucks, cars, motorbikes, and other vehicles. Its main objective is to offer financial assurance against the physical bodily harm, damage caused by traffic collisions, and liability that result from occurrences in a vehicle. Auto insurance may provide financial assistance against damage and theft caused by circumstances apart from vehicle collisions, keying, climate or environmental disasters, and colliding with adjacent structures. The global auto insurance market is growing due to increasing traffic incidents, the execution of stringent rules and regulations requiring the purchase of auto insurance, and an increase in vehicle sales worldwide.

What are the major risks for the auto insurance market?

Numerous challenges exist in the global auto insurance industry setting that diminishes its attractiveness and growth potential. One of the chief challenges relates to the dynamic nature of the industry. The market is undergoing transformational change due to the integration of autonomous technology and changing regulatory landscape. It has increased unpredictability for the key players that function in the market and influence the auto insurance market size at the global level.

Which is the key application in the auto insurance market?

During the forecast period, the commercial segment will hold a major share of the global auto insurance market due to commercial insurance being a policy of damage and liability coverages for situations, amounts, and usage not covered by an auto insurance policy. It provides final protection to the customers against any physical damage resulting from theft of commercial vehicles or traffic collisions such as accidents, weather, natural disasters, etc.

How is the auto insurance market performing in regions?

The Asia Pacific geographical segment will dominate the global auto insurance market during the forecasted period. Some of the reasons for the performance of the specific regional segment are increasing in the sales of automobiles in the region, such as China and India, numerous insurance providers, and third-party insurance providers in the region. Also, it is expected that the Middle East, Africa, and South America will demonstrate strong performance during the forecasted period. The increase in the number of automobiles could act as a major factor that could strengthen the drive of the market segment at the global level.

What is the regulatory landscape for the auto insurance market?

Rules and regulations made by governments across the globe to mandatorily buy insurance policies while purchasing a new vehicle have also boosted the growth of this market. Furthermore, new insurance product launches and innovations are also expected to fuel the growth of this market.

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What is the market size of auto insurance regarding value?

The global auto insurance market is anticipated to grow at a significant CAGR of 8.90% in the upcoming years. The global auto insurance industry was estimated to be worth USD 750.8 billion in 2021 and was expected to worth USD 1252.2 billion by 2028.

Segmentation of the Global Auto Insurance Market-

Global Auto insurance Market – By Coverage

  • Third Party Liability Coverage
  • Collision/Comprehensive/ Other Optional Coverages

Global Auto insurance Market – By Distribution Channel

  • Insurance Agents/Brokers
  • Direct Response
  • Banks
  • Others

Global Auto insurance Market – By Vehicle Age

  • New Vehicles
  • Used Vehicles

Global Auto insurance Market – By Application

  • Personal
  • Commercial

Global Auto insurance Market – By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • The U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Auto Insurance Market
2.2. Global Auto Insurance Market, By Coverage
2.3. Global Auto Insurance Market, By Distribution Channel
2.4. Global Auto Insurance Market, By Vehicle Age
2.5. Global Auto Insurance Market, By Application

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Auto Insurance Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Market Drivers
3.2.3. Market Restraints
3.2.4. Market Opportunities
3.2.5. Major Industry Challenges
3.3. Attractive Investment Proposition,2021
3.3.1. Coverage
3.3.2. Distribution Channel
3.3.3. Vehicle Age
3.3.4. Application

4. Premium Insights
4.1. STAR (Situation, Task, Action, Results) Analysis
4.2. Porter’s Five Forces Analysis
4.2.1. Threat of New Entrants
4.2.2. Bargaining Power of Buyers/Consumers
4.2.3. Bargaining Power of Suppliers
4.2.4. Threat of Substitute Types
4.2.5. Intensity of Competitive Rivalry
4.3. Value Chain Analysis
4.4. Technology Analysis
4.5. Marketing Strategy Analysis
4.5.1. Direct Marketing
4.5.2. Indirect Marketing
4.5.3. Marketing Channel Development Trend

5. Market Positioning of Key Players, 2021
5.1. Company market share of key players, 2021
5.2. Competitive Benchmarking
5.3. Market Positioning of Key Vendors
5.4. Geographical Presence Analysis
5.5. Major Strategies Adopted by Key Players
5.5.1. Key Strategies Analysis
5.5.2. Mergers and Acquisitions
5.5.3. Partnerships
5.5.4. Product Launch
5.5.5. Geographical Expansion
5.5.6. Others

6. COVID 19 Impact Analysis
6.1. Global Auto Insurance Market Pre Vs Post COVID 19, 2019 – 2028
6.2. Impact on Import & Export
6.3. Impact on Demand & Supply

7. Global Auto Insurance Market
7.1. Global Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
7.1.1. Overview
7.1.2. Global Auto Insurance Market, By Coverage, 2021 vs 2028 (in%)
7.1.3. Global Auto Insurance Market, By third party liability coverage , 2016-2028 (US$ Bn)
7.1.4. Global Auto Insurance Market, By collision/comprehensive/ other optional coverages, 2016-2028 (US$ Bn)
7.2. Global Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Global Auto Insurance Market, By Distribution Channel, 2021 vs 2028 (in%)
7.2.3. Global Auto Insurance Market, By Insurance Agents/Brokers, 2016-2028 (US$ Bn)
7.2.4. Global Auto Insurance Market, By Direct Response, 2016-2028 (US$ Bn)
7.2.5. Global Auto Insurance Market, By Banks, 2016-2028 (US$ Bn)
7.2.6. Global Auto Insurance Market, By Others, 2016-2028 (US$ Bn)
7.3. Global Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Global Auto Insurance Market, By Vehicle Age, 2021 vs 2028 (in%)
7.3.3. Global Auto Insurance Market, By New Vehicles, 2016-2028 (US$ Bn)
7.3.4. Global Auto Insurance Market, By Used Vehicles, 2016-2028 (US$ Bn)
7.4. Global Auto Insurance Market, by Application, 2016-2028(US$ Bn)
7.4.1. Overview
7.4.2. Global Auto Insurance Market, By Application, 2021 vs 2028 (in%)
7.4.3. Global Auto Insurance Market, By Personal, 2016-2028 (US$ Bn)
7.4.4. Global Auto Insurance Market, By Commercial, 2016-2028 (US$ Bn)

8. North AmericaAuto Insurance Market Analysis
8.1. North America Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
8.1.1. Overview
8.2. SRC Analysis
8.3. North America Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. SRC Analysis
8.4. North America Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
8.4.1. Overview
8.4.2. SRC Analysis
8.5. North America Auto Insurance Market, by Application, 2016-2028(US$ Bn)
8.5.1. Overview
8.5.2. SRC Analysis
8.6. North America Auto Insurance Market, by Country, 2016-2028(US$ Bn)
8.6.1. U.S.
8.6.1.1. U.S. Auto InsuranceMarket Estimates and Forecast, 2016-2028 (US$ Bn)
8.6.1.2. U.S. Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
8.6.1.3. U.S. Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
8.6.1.4. U.S. Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
8.6.1.5. U.S. Auto Insurance, By Application, 2016-2028 (US$ Bn)
8.6.2. Canada
8.6.2.1. Canada Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
8.6.2.2. Canada Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
8.6.2.3. Canada Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
8.6.2.4. Canada Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
8.6.2.5. Canada Auto Insurance, By Application, 2016-2028 (US$ Bn)

9. Europe Auto Insurance Market Analysis
9.1. Europe Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
9.1.1. Overview
9.1.2. SRC Analysis
9.2. Europe Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. SRC Analysis
9.3. Europe Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. SRC Analysis
9.4. Europe Auto Insurance Market, by Application, 2016-2028(US$ Bn)
9.4.1. Overview
9.4.2. SRC Analysis
9.5. Europe Auto Insurance Market, by Country, 2016-2028 (US$ Bn)
9.5.1. Germany
9.5.1.1. Germany Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
9.5.1.2. Germany Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
9.5.1.3. Germany Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
9.5.1.4. Germany Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
9.5.1.5. Germany Auto Insurance, By Application, 2016-2028 (US$ Bn)
9.5.2. France
9.5.2.1. France Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
9.5.2.2. France Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
9.5.2.3. France Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
9.5.2.4. France Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
9.5.2.5. France Auto Insurance, By Application, 2016-2028 (US$ Bn)
9.5.3. UK
9.5.3.1. UK Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
9.5.3.2. UK Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
9.5.3.3. UK Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
9.5.3.4. UK Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
9.5.3.5. UK Auto Insurance, By Application, 2016-2028 (US$ Bn)
9.5.4. Italy
9.5.4.1. Italy Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
9.5.4.2. Italy Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
9.5.4.3. Italy Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
9.5.4.4. Italy Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
9.5.4.5. Italy Auto Insurance, By Application, 2016-2028 (US$ Bn)
9.5.5. Spain
9.5.5.1. Spain Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
9.5.5.2. Spain Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
9.5.5.3. Spain Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
9.5.5.4. Spain Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
9.5.5.5. Spain Auto Insurance, By Application, 2016-2028 (US$ Bn)
9.5.6. Rest of Europe
9.5.6.1. Rest of Europe Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
9.5.6.2. Rest of Europe Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
9.5.6.3. Rest of Europe Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
9.5.6.4. Rest of Europe Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
9.5.6.5. Rest of Europe Auto Insurance, By Application, 2016-2028 (US$ Bn)

10. Asia Pacific Auto Insurance Market Analysis
10.1. Asia Pacific Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
10.1.1. Overview
10.1.2. SRC Analysis
10.2. Asia Pacific Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. SRC Analysis
10.3. Asia Pacific Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. SRC Analysis
10.4. Asia Pacific Auto Insurance Market, by Application, 2016-2028(US$ Bn)
10.4.1. Overview
10.4.2. SRC Analysis
10.5. Asia Pacific Auto Insurance Market, by Country, 2016-2028 (US$ Bn)
10.5.1. China
10.5.1.1. China Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
10.5.1.2. China Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
10.5.1.3. China Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
10.5.1.4. China Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
10.5.1.5. China Auto Insurance, By Application, 2016-2028 (US$ Bn)
10.5.2. Japan
10.5.2.1. Japan Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
10.5.2.2. Japan Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
10.5.2.3. Japan Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
10.5.2.4. Japan Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
10.5.2.5. Japan Auto Insurance, By Application, 2016-2028 (US$ Bn)
10.5.3. India
10.5.3.1. India Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
10.5.3.2. India Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
10.5.3.3. India Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
10.5.3.4. India Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
10.5.3.5. India Auto Insurance, By Application, 2016-2028 (US$ Bn)
10.5.4. South Korea
10.5.4.1. South Korea Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
10.5.4.2. South Korea Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
10.5.4.3. South Korea Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
10.5.4.4. South Korea Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
10.5.4.5. South Korea Auto Insurance, By Application, 2016-2028 (US$ Bn)
10.5.5. South-East Asia
10.5.5.1. South-East Asia Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
10.5.5.2. South-East Asia Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
10.5.5.3. South-East Asia Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
10.5.5.4. South-East Asia Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
10.5.5.5. South-East Asia Auto Insurance, By Application, 2016-2028 (US$ Bn)
10.5.6. Rest of Asia Pacific
10.5.6.1. Rest of Asia Pacific Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
10.5.6.2. Rest of Asia Pacific Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
10.5.6.3. Rest of Asia Pacific Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
10.5.6.4. Rest of Asia Pacific Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
10.5.6.5. Rest of Asia Pacific Auto Insurance, By Application, 2016-2028 (US$ Bn)

11. Latin America Auto Insurance Market Analysis
11.1. Latin America Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
11.1.1. Overview
11.1.2. SRC Analysis
11.2. Latin America Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. SRC Analysis
11.3. Latin America Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. SRC Analysis
11.4. Latin America Auto Insurance Market, by Application, 2016-2028(US$ Bn)
11.4.1. Overview
11.4.2. SRC Analysis
11.5. Latin America Auto Insurance Market, by Country, 2016-2028 (US$ Bn)
11.5.1. Brazil
11.5.1.1. Brazil Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
11.5.1.2. Brazil Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
11.5.1.3. Brazil Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
11.5.1.4. Brazil Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
11.5.1.5. Brazil Auto Insurance, By Application, 2016-2028 (US$ Bn)
11.5.2. Mexico
11.5.2.1. Mexico Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
11.5.2.2. Mexico Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
11.5.2.3. Mexico Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
11.5.2.4. Mexico Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
11.5.2.5. Mexico Auto Insurance, By Application, 2016-2028 (US$ Bn)
11.5.3. Rest of Latin America
11.5.3.1. Rest of Latin America Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
11.5.3.2. Rest of Latin America Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
11.5.3.3. Rest of Latin America Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
11.5.3.4. Rest of Latin America Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
11.5.3.5. Rest of Latin America Auto Insurance, By Application, 2016-2028 (US$ Bn)

12. Middle East and Africa Auto Insurance Market Analysis
12.1. Middle East and Africa Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. SRC Analysis
12.2. Middle East and Africa Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. SRC Analysis
12.3. Middle East and Africa Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
12.3.1. Overview
12.3.2. SRC Analysis
12.4. Middle East and Africa Auto Insurance Market, by Application, 2016-2028(US$ Bn)
12.4.1. Overview
12.4.2. SRC Analysis
12.5. Middle East and Africa Auto Insurance Market, by Country, 2016-2028 (US$ Bn)
12.5.1. GCC Countries
12.5.1.1. GCC Countries ilAuto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
12.5.1.2. GCC Countries Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
12.5.1.3. GCC Countries Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
12.5.1.4. GCC Countries Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
12.5.1.5. GCC Countries Auto Insurance, By Application, 2016-2028 (US$ Bn)
12.5.2. South Africa
12.5.2.1. South Africa Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
12.5.2.2. South Africa Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
12.5.2.3. South Africa Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
12.5.2.4. South Africa Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
12.5.2.5. South Africa Auto Insurance, By Application, 2016-2028 (US$ Bn)
12.5.3. Rest of Middle East and Africa
12.5.3.1. Rest of Middle East and Africa Auto Insurance Market Estimates and Forecast, 2016-2028 (US$ Bn)
12.5.3.2. Rest of Middle East and Africa Auto Insurance, By Coverage, 2016-2028 (US$ Bn)
12.5.3.3. Rest of Middle East and Africa Auto Insurance, By Distribution Channel, 2016-2028 (US$ Bn)
12.5.3.4. Rest of Middle East and Africa Auto Insurance, By Vehicle Age, 2016-2028 (US$ Bn)
12.5.3.5. Rest of Middle East and Africa Auto Insurance, By Application, 2016-2028 (US$ Bn)

13. Company Profiles
13.1. People’s Insurance Company Of China
13.1.1. Company Overview
13.1.2. Products/Services Portfolio
13.1.3. Geographical Presence
13.1.4. Financial Summary
13.1.4.1. Market Revenue and Net Profit (2019-2021)
13.1.4.2. Business Segment Revenue Analysis
13.1.4.3. Geographical Revenue Analysis
13.2. China Pacific Insurance Co.
13.3. State Farm Mutual
13.4. Automobile Insurance
13.5. Ping An Insurance (Group) Company Of China Ltd.
13.6. Berkshire Hathaway Inc.
13.7. Admiral Group Plc
13.8. Geico
13.9. Tokio Marine Group
13.10. Allianz
13.11. Allstate Insurance Company
13.12. Others

List of Figures

FIG. 1 Global Auto Insurance Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Auto Insurance Market Segmentation
FIG. 4 Global Auto Insurance Market, by Coverage, 2021(US$ Bn)
FIG. 5 Global Auto Insurance Market, by Distribution Channel, 2021(US$ Bn)
FIG. 6 Global Auto Insurance Market, by Vehicle Age Type, 2021 (US$ Bn)
FIG. 7 Global Auto Insurance Market, by Application, 2021(US$ Bn)
FIG. 8 Global Auto Insurance Market, by Geography, 2021(US$ Bn)
FIG. 9 Attractive Investment Proposition, by Coverage, 2021
FIG. 10 Attractive Investment Proposition, by Distribution Channel, 2021
FIG. 11 Attractive Investment Proposition, by Vehicle Age Type, 2021
FIG. 12 Attractive Investment Proposition, by Application, 2021
FIG. 13 Attractive Investment Proposition, by Geography, 2021
FIG. 14 Global Market Share Analysis of Key Auto Insurance Market Manufacturers, 2021
FIG. 15 Global Market Positioning of Key Auto Insurance Market Manufacturers, 2021
FIG. 16 Global Auto Insurance Market Value Contribution, By Coverage, 2021 & 2028 (Value %)
FIG. 17 Global Auto InsuranceMarket, by third party liability coverage, Value, 2016-2028(US$ Bn)
FIG. 18 Global Auto InsuranceMarket, by collision/comprehensive/ other optional coverages, Value, 2016-2028 (US$ Bn)
FIG. 19 Global Auto Insurance Market Value Contribution, By Distribution Channel, 2021 & 2028 (Value %)
FIG. 20 Global Auto InsuranceMarket, by Insurance Agents/Brokers, Value, 2016-2028(US$ Bn)
FIG. 21 Global Auto InsuranceMarket, by Direct Response, Value, 2016-2028 (US$ Bn)
FIG. 22 Global Auto InsuranceMarket, by Banks, Value, 2016-2028(US$ Bn)
FIG. 23 Global Auto InsuranceMarket, by Others, Value, 2016-2028 (US$ Bn)

FIG. 24 Global Auto Insurance Market Value Contribution, By Vehicle Age, 2021 & 2028 (Value %)
FIG. 25 Global Auto InsuranceMarket, by New Vehicles, Value, 2016-2028(US$ Bn)
FIG. 26 Global Auto InsuranceMarket, by Used Vehicles, Value, 2016-2028 (US$ Bn)
FIG. 27 Global Auto Insurance Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 28 Global Auto InsuranceMarket, by Personal, Value, 2016-2028(US$ Bn)
FIG. 29 Global Auto InsuranceMarket, by Commercial, Value, 2016-2028 (US$ Bn)
FIG. 30 Global Auto InsuranceMarket, by Manufacturing, Value, 2016-2028(US$ Bn)
FIG. 31 U.S. Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 32 Canada Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 33 Germany Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 34 FranceAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 35 U.K. Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 36 Italy Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 37 Spain Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 38 Rest of Europe Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 39 China Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 40 Japan Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 41 IndiaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 42 South KoreaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 43 Southeast AsiaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 44 Rest of Asia Pacific Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 45 Latin AmericaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 46 Brazil Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 47 Mexico Auto Insurance Market, 2016-2028(US$ Bn)
FIG. 48 Rest of Latin AmericaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 49 Middle East & AfricaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 50 GCC CountriesAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 51 South AfricaAuto Insurance Market, 2016-2028(US$ Bn)
FIG. 52 Rest of Middle East and AfricaAuto Insurance Market, 2016-2028(US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Auto InsuranceMarket
TABLE 2 Global Auto Insurance Market, by Competitive Benchmarking, 2021
TABLE 3 Global Auto Insurance Market, by Geographical Presence Analysis, 2021
TABLE 4 Global Auto Insurance Market, by Key Strategies Analysis, 2021
TABLE 5 Global Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 6 Global Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 7 Global Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 8 Global Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 9 GlobalAuto Insurance Market, by Geography, 2016-2028(US$ Bn)
TABLE 10 North America Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 11 North America Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 12 North America Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 13 North AmericaAuto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 14 North AmericaAuto Insurance Market, by Country, 2016-2028(US$ Bn)
TABLE 15 US Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 16 US Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 17 USAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 18 USAuto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 19 Canada Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 20 Canada Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 21 Canada Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 22 Canada Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 23 Europe Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 24 Europe Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 25 Europe Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 26 Europe Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 27 Europe Auto Insurance Market, by Country, 2016-2028(US$ Bn)
TABLE 28 Germany Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 29 Germany Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 30 GermanyAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 31 GermanyAuto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 32 France Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 33 France Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 34 France Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 35 France Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 36 UK Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 37 UK Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 38 UKAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 39 UKAuto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 40 Italy Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 41 Italy Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 42 Italy Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 43 Italy Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 44 Spain Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 45 Spain Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 46 SpainAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 47 Spain Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 48 Rest of Europe Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 49 Rest of Europe Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 50 Rest of Europe Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 51 Rest of Europe Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 52 Asia Pacific Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 53 Asia Pacific Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 54 Asia Pacific Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 55 Asia Pacific Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 56 Asia Pacific Auto Insurance Market, by Country, 2016-2028(US$ Bn)
TABLE 57 China Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 58 China Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 59 ChinaAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 60 ChinaAuto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 61 Japan Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 62 Japan Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 63 Japan Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 64 Japan Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 65 India Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 66 India Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 67 India Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 68 India Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 69 South Korea Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 70 South Korea Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 71 South Korea Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 72 South Korea Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 73 South East Asia Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 74 South East Asia Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 75 South East Asia Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 76 South East Asia Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 77 Rest of Asia Pacific Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 78 Rest of Asia Pacific Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 79 Rest of Asia Pacific Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 80 Rest of Asia Pacific Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 81 Latin America Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 82 Latin America Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 83 Latin America Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 84 Latin America Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 85 Latin America Auto Insurance Market, by Country, 2016-2028(US$ Bn)
TABLE 86 Brazil Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 87 Brazil Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 88 Brazil Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 89 Brazil Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 90 Mexico Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 91 Mexico Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 92 Mexico Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 93 Mexico Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 94 Rest of Latin America Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 95 Rest of Latin America Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 96 Rest of Latin AmericaAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 97 Rest of Latin AmericaAuto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 98 Middle East and Africa Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 99 Middle East and Africa Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 100 Middle East and Africa Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 101 Middle East and Africa Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 102 Middle East and Africa Auto Insurance Market, by Country, 2016-2028(US$ Bn)
TABLE 103 GCC Countries Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 104 GCC Countries Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 105 GCC CountriesAuto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 106 GCC Countries Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 107 South Africa Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 108 South Africa Auto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 109 South Africa Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 110 South Africa Auto Insurance Market, by Application, 2016-2028(US$ Bn)
TABLE 111 Rest of Middle East and Africa Auto Insurance Market, by Coverage, 2016-2028(US$ Bn)
TABLE 112 Rest of Middle East and AfricaAuto Insurance Market, by Distribution Channel, 2016-2028(US$ Bn)
TABLE 113 Rest of Middle East and Africa Auto Insurance Market, by Vehicle Age, 2016-2028(US$ Bn)
TABLE 114 Rest of Middle East and Africa Auto Insurance Market, by Application, 2016-2028(US$ Bn)

Frequently asked questions

Which is the leading region of the market for Auto insurance?

Asia Pacific auto insurance market is expected for the highest revenue share of the global market. The auto insurance industry in the region is flourishing due to the rising awareness regarding the importance of vehicle insurance. Furthermore, the digitization of business operations is furthering the market for auto insurance in the region.

What are the key drivers for the growth of the auto insurance market?

The citizens’ disposable incomes have increased, increasing purchasing power, thereby boosting the sales of automobiles are expected to fuel the growth of the global market.

Which is the major segment in the auto insurance market by Coverage?

The collision/comprehensive/ other optional coverage segment had a major global market share in 2021.

Which is the major segment in the auto insurance market by Distribution Channel?

The insurance agents/brokers segment had a major share in the global market.

Which is the major segment in the Auto insurance market by Vehicle Age?

New vehicles had a major share in the global market.

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