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UAE Motor Insurance Market By Type (Third-Party Liability Insurance, Comprehensive Insurance, Specialized Motor Insurance); By Product (Motor Insurance for Individuals, Commercial Motor Insurance, Niche Motor Insurance); By Application (Personal Motor Insurance, Commercial Motor Insurance, Temporary or Short-Term Insurance); By Price Range (Economy Motor Insurance, Mid-Range Motor Insurance, Premium Motor Insurance); By Distribution Channel (Insurance Brokers, Direct Sales, Online Insurance Portals); By End User (Individual Vehicle Owners, Businesses and Fleet Owners, Tourists and Temporary Residents, Government and Public Entities) – Growth, Future Prospects & Competitive Analysis, 2022 – 2030

Price: $1999

Published: | Report ID: 30485 | Report Format : PDF

Market Definition

The UAE motor insurance market refers to the insurance industry in the UAE that provides automobile coverage. It covers a wide range of automotive insurance products, including comprehensive insurance, third-party liability insurance, and third-party fire and theft insurance. These plans offer financial protection against damages, accidents, theft, and other dangers involved with owning and driving a car in the UAE. The market is controlled by the UAE Insurance Authority and is a key sector of the country’s insurance business.

Market Overview

It is anticipated that between 2023 and 2030, the UAE Motor Insurance Market will expand at a compound annual growth rate (CAGR) of 2.30%. From USD 1524.8 million in 2022, the market is projected to be worth USD 1829.0 million by 2030.

The UAE motor insurance market is a prominent component of the insurance industry in the UAE. It is fueled by the large number of automobiles on the road and the country’s required obligation for motor insurance. There are several types of motor insurance policies available on the market, including comprehensive coverage, third-party liability insurance, and third-party fire and theft insurance. To address the different demands of vehicle owners, insurance providers in the UAE offer affordable rates and tailored coverage alternatives. The Insurance Authority of the UAE regulates the market, providing fair practices and customer protection. With the UAE’s automotive sector continuing to grow, the motor insurance market is likely to increase more in the future years.

UAE Motor Insurance Market

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Market Insights

  • The  demand for UAE Motor Insurance was valued at USD 1524.8 Million in 2022 and is expected to reach USD 1829.0 Million in 2030, growing at a CAGR of 2.30% between 2023 and 2030.
  • The liability coverage segment leads the UAE motor insurance industry, and comprehensive motor insurance is expected to grow gradually.
  • Commercial motor insurance is the market’s fastest growing segment, and another significant segment is Niche Motor Insurance.
  • The personal motor insurance category contributes the most to the market, followed by the commercial motor insurance segment in the UAE Motor Insurance Market.
  • Economy automobile Insurance accounts for the majority of the UAE automobile insurance market, with Premium Motor Insurance accounting for another substantial market segment.
  • The insurance brokers category is expected to develop the fastest in the UAE automotive insurance industry, while the direct sales sector holds the second largest share.
  • Individual Vehicle Owners have a higher market demand for the UAE auto insurance industry, while Fleet Owners are another prominent market segment.
  • Third-Party Liability Insurance’s emergence propels market expansion.
  • The market’s expansion is hampered by a lack of awareness about the benefits of various motor insurance schemes.

Segmentation by Type

  • The liability coverage segment is the market leader in the UAE motor insurance industry. The primary benefits of this coverage type are that it compensates for any third-party damage, such as disability, death, or property loss. Third-party liability insurance protects you legally and financially. A major factor for the rising desire for third-party liability coverage insurance is the potential of automobile accidents and third-party damage.
  • The comprehensive motor insurance is predicted to increase steadily.

  Segmentation by Product

  • Commercial motor insurance is the fastest expanding area in the UAE motor insurance industry. It has seen substantial expansion as the number of firms and economic activity in the UAE has increased.
  • Another noteworthy section is Niche Motor Insurance, which focuses on specific automobiles or unusual coverage needs.

Segmentation by Application

  • The personal motor insurance segment contributes the most to the UAE motor insurance industry. The high number of personal vehicles on UAE roads has raised demand for vehicle insurance. Personal vehicle affordability is increasing due to easy financing and EMI alternatives, which is boosting demand for vehicle insurance, which is also increasing. Electric car popularity is predicted to have a substantial impact on the growth of the UAE motor insurance market throughout the forecast period.
  • The commercial motor insuarance segment is the second largest section in the UAE Motor Insurance Market.

Segmentation by Price Range

  • Economy Motor Insurance holds the largest share of the UAE motor insurance industry. It caters to budget-conscious consumers looking for low-cost coverage solutions.
  • Premium Motor Insurance is another significant market segment that provides comprehensive coverage with additional advantages and higher policy limits.

Segmentation by Distribution Channel

  • The insurance brokers segment is predicted to grow the quickest in the UAE automobile insurance market over the projection period. This is owing to the convenience with which insurance policies may be purchased; insurance agents guide discounts, offers, and programs, boosting consumer confidence in acquiring auto insurance.
  • The direct sales sector has the second greatest share in the UAE Motor Insurance Market.

Segmentation by End-Users

  • Individual Vehicle Owners have a stronger market demand for UAE motor insurance market. Personal vehicle owners who require insurance coverage for their vehicles are included in this segment.
  • Businesses and Fleet Owners are another market sector that is popular. This market is for businesses and organizations who possess many vehicles, such as delivery services or transportation companies. They require insurance coverage for their car fleet.

Key Highlights of the Report

The  UAE Motor Insurance Marketis segmented by Type, Product, Application, Price Range, Distribution Channel, End-User and region. The wall-mounted enclosure dominates the market. The liability coverage section is the market leader in the UAE motor insurance industry. In addition, commercial motor insurance is the industry’s fastest growing segment, and individual vehicle owners have a larger market demand. Also, the direct sales sector holds the second largest proportion of the UAE Motor Insurance Market.

The primary drivers of the market include rising vehicle ownership and population growth, mandatory motor insurance requirements in the UAE, and technological developments in insurance operations. In addition, the primary market barriers are intense rivalry among insurance providers, rising claims and frauds in the motor insurance sector, and regulatory hurdles and compliance requirements.

 What Elements Are Driving the  Market for UAE Motor Insurance?

Increased car ownership and population expansion are two major drivers of the UAE automobile insurance market. As more individuals own cars, the need for auto insurance rises, propelling the market forward. Furthermore, the UAE’s statutory requirement for car insurance assures a steady demand for insurance coverage. Another motivator is technical progress in insurance processes. The sector is adopting digitalization, which makes it easier for customers to obtain and purchase auto insurance coverage.

What Are The Main Obstacles That The  UAE Motor Insurance Market Faces?

Certain constraints exist in the UAE motor insurance sector. One of them is fierce rivalry among insurance companies. With so many insurance firms on the market, there is tremendous rivalry to acquire customers. Another impediment is the rise in claims and fraud in the auto insurance industry. Insurance firms must manage and limit the risks of fraudulent claims, which can have an influence on their profitability. Furthermore, regulatory hurdles and compliance requirements impose market restraints, as insurance businesses must follow tight rules and satisfy compliance standards.

What Market Development Prospects Are There For UAE Motor Insurance?

The UAE motor insurance market offers various opportunities as well. One such possibility is the growing awareness and need for complete coverage. As clients become more aware of the benefits of comprehensive auto insurance, insurance companies have a chance to give customized coverage alternatives. Another possibility is the integration of digital channels for insurance transactions. Insurance firms can use technology to streamline their procedures, improve client experience, and reach a larger consumer base.

Market Drivers

The  UAE Motor Insurance Market is driven by several factors. The following are the key drivers of the  UAE Motor Insurance Market:

Emergence of Third-Party Liability Insurance

The rise of Third-Party Liability Insurance is one of the primary factors in the UAE motor insurance market. People’s ignorance resulted in collisions, accidents, and other dangers or harm to third parties. The basic insurance policy has nothing to do with car damage, but third-party liability insurance pays for any property damage caused by the owner of the car to third parties who are not covered by the policy. This policy protects you from financial loss if third persons, such as walkers, drivers, and passengers in other vehicles, incur property damage, disability, injuries, or death. Nonetheless, this type of preparation benefits in protecting the interests of third parties. All of these factors are projected to assist the car insurance sector substantially in the next years.

Market Restraints

The  UAE Motor Insurance Marketfaces some challenges that may hinder its growth. These include the following:

Lack of Awareness about Benefits of Various Schemes of Motor Insurance

Many vehicle owners are unaware of the many types of coverage available and the benefits they provide. This lack of information might result in inferior insurance selections or even the complete absence of insurance coverage. One of the most serious effects of this restriction is that car owners may not be adequately protected in the case of an accident or other unanticipated events. They may be unaware of the advantages of comprehensive insurance, which protects against theft, vandalism, and natural catastrophes, among other things. Furthermore, car owners may be unaware of the value of optional coverage alternatives such as roadside assistance or personal accident coverage.

Opportunities

The  UAE Motor Insurance Marketoffers significant growth opportunities. These include the following:

UAE Motor Insurance Market Integration Of Digital Platforms For Insurance Transactions

With the growth of technology, insurance companies are embracing digital platforms to streamline and improve the insurance experience for clients. This includes online portals and smartphone apps that allow people to effortlessly compare insurance plans, acquire quotations, and purchase coverage from the comfort of their own homes. The integration of digital platforms also allows for faster claim processing and a more efficient and transparent communication route between insurers and policyholders. This digital transformation not only enhances consumer satisfaction but also promotes operational efficiency for insurance businesses.

UAE Motor Insurance Market Report

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Competitive Landscape             

Key Players

The  UAE Motor Insurance Market is highly competitive, with several key players. Some of the major players in the market and their market share are as follows:

  • Bajaj Allianz
  • Allstate Insurance Company
  • Admiral
  • Berkshire Hathaway, Inc
  • CHINA PACIFIC INSURANCE CO.
  • GEICO
  • Oman Motor Insurance
  • AXA Motor Insurance
  • Al Fuiairah National Insurance Company
  • ADNIC Motor Insurance
  • Noor Takaful Motor Insurance
  • Assicurazioni Generali S.P.A.
  • National General Insurance Co.
  • Orient Insurance Pisc
  • Abu Dhabi National Insurance Company
  • Union Insurance Co
  • Emirates Insurance Company
  • Islamic Arab Insurance Company
  • Al Dhafra Insurance Company

These organizations prioritize product innovation, Disease Area expansion, and mergers and acquisitions to stay competitive.

The  UAE Motor Insurance Market’s key players continually seek to stay ahead by offering new Types and developments.

In October 2022, Sukoon Insurance signed a strategic agreement with AG Cars, the multi-brand automobile service centre network in the United Arab Emirates, to expand its position as a quality-focused auto insurer in the country.

In April 2021, To encourage competition and transparency in the market, the UAE Insurance Authority implemented new regulations for motor insurance pricing. Under these requirements, insurers are obligated to provide clients more cheap and flexible car insurance coverage, or face penalties if they do not.

Summary of Key Findings

  • UAE Motor Insurance market Integration of digital platforms for insurance transactions is the key opportunity ofthe market
  • Market segmented by Type, Product, Application, Price Range, Distribution Channel, End-User and region
  • Commercial motor insurance is the market’s fastest growing segment
  • Individual Vehicle Owners have a higher market demand for the UAE motor insurance industry
  • The market is highly competitive with key players including Bajaj Allianz, Allstate Insurance Company, Admiral, Berkshire Hathaway, Inc, CHINA PACIFIC INSURANCE CO., GEICO

Future Outlook

  • Population growth and rising automobile ownership
  • Insurance process technological innovations
  • Increasing awareness and demand for all-inclusive coverage
  • Increased emphasis on road safety and tighter rules
  • Launch of novel insurance goods and services
  • Digital platform integration for insurance transactions
  • Increased emphasis on client experience and personalized offers
  • Possibility of industrial alliances and collaborations
  • Conversion to usage-based and pay-as-you-go insurance models

Segmentation

  • By Type:
    • Third-Party Liability Insurance
    • Comprehensive Insurance
    • Specialized Motor Insurance
  • By Product:
    • Motor Insurance for Individuals
    • Commercial Motor Insurance
    • Niche Motor Insurance
  • By Application:
    • Personal Motor Insurance
    • Commercial Motor Insurance
    • Temporary or Short-Term Insurance
  • By Price Range:
    • Economy Motor Insurance
    • Mid-Range Motor Insurance
    • Premium Motor Insurance
  • By Distribution Channel:
    • Insurance Brokers
    • Direct Sales
    • Online Insurance Portals
  • By End User:
    • Individual Vehicle Owners
    • Businesses and Fleet Owners
    • Tourists and Temporary Residents
    • Government and Public Entities

Table of Content

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. Market Introduction

2.Executive Summary

2.1. Market Snapshot: UAE Motor Insurance Market

2.1.1. UAE Motor Insurance Market, By Type

2.1.2. UAE Motor Insurance Market, By Product

2.1.3. UAE Motor Insurance Market, By Application

2.1.4. UAE Motor Insurance Market, By Price Range

2.1.5. UAE Motor Insurance Market, By Distribution Channel

2.1.6. UAE Motor Insurance Market, By End-User

2.1.7. UAE Motor Insurance Market, By Region

2.2. Insights from Primary Respondents

3.Market Dynamics & Factors Analysis

3.1. Introduction

3.1.1. UAE Motor Insurance Market Value, 2017-2030, (US$ Mn)

3.1.2. Y-o-Y Growth Trend Analysis

3.2. Market D ynamics

3.2.1. UAE Motor Insurance Market Drivers

3.2.2. Motor InsuranceMarket Restraints

3.2.3. Motor InsuranceMarket Opportunities

3.2.4. Major Motor Insurance Industry Challenges

3.3. Growth and Development Patterns

3.4. Investment Feasibility Analysis

3.5. Market Opportunity Analysis

3.5.1. Type

3.5.2. Product

3.5.3. Application

3.5.4. Price Range

3.5.5. Distribution Channel

3.5.6. End-User

3.5.7. Geography

4.Market Competitive Landscape Analysis

4.1. Company Market Share Analysis, 2022

4.1.1. UAE Motor Insurance Market : Company Market Share, Value 2022

4.1.2. UAE Motor Insurance Market : Top 6 Company Market Share, Value 2022

4.1.3. UAE Motor Insurance Market : Top 3 Company Market Share, Value 2022

4.2. UAE Motor Insurance Market: Company Revenue Share Analysis, 2022

4.3. Company Assessment Metrics, 2022

4.3.1. Stars

4.3.2. Emerging Leaders

4.3.3. Pervasive Players

4.3.4. Participants

4.4. Startups/ SMEs Assessment Metrics, 2022

4.4.1. Progressive Companies

4.4.2. Responsive Companies

4.4.3. Dynamic Companies

4.4.4. Starting Blocks

4.5. Strategic Development

4.5.1. Acquisition and Mergers

4.5.2. New Product Launch

4.5.3. Regional Expansion

4.5.4. Partnerships

4.6. Key Player Product Matrix

4.7. Potential for New Players in the UAE Motor Insurance Market

5.Premium Insights

5.1. STAR (Situation, Task, Action, Results) Analysis

5.2. Porter’s Five Forces Analysis

5.2.1. Threat of New Entrants

5.2.2. Bargaining Power of Buyers/Consumers

5.2.3. Bargaining Power of Suppliers

5.2.4. Threat of Substitute Types

5.2.5. Intensity of Competitive Rivalry

5.3. PESTEL Analysis

5.3.1. Political Factors

5.3.2. Economic Factors

5.3.3. Social Factors

5.3.4. Technological Factors

5.3.5. Environmental Factors

5.3.6. Legal Factors

5.4. Key Market Trends

5.4.1. Demand Side Trends

5.4.2. Supply Side Trends

5.5. Value Chain Analysis

5.6. Technology Analysis

5.6.1. Research and development in the market

5.6.2. Patent Analysis

5.6.3. Emerging technologies and their potential disruption to the market

5.7. Consumer Behaviour Analysis

5.7.1. Consumer Preferences and Expectations

5.7.2. Consumer Pain Points

5.8. Analysis and Recommendations

5.9. Adjacent Market Analysis

6.Market Positioning of Key Players, 2022

6.1. Company market share of key players, 2022

6.2. Competitive Benchmarking

6.3. Market Positioning of Key Vendors

6.4. Geographical Presence Analysis

6.5. Major Strategies Adopted by Key Players

6.5.1. Key Strategies Analysis

6.5.2. Mergers and Acquisitions

6.5.3. Partnerships

6.5.4. Product Launch

6.5.5. Geographical Expansion

6.5.6. Others

7. Impact Analysis of COVID 19 and Russia – Ukraine War on UAE Motor Insurance Market

7.1. Ukraine-Russia War Impact

7.1.1. Uncertainty and Economic Instability

7.1.2. Supply chain disruptions

7.1.3. Regional market shifts

7.1.4. Shift in government priorities

7.2. COVID-19 Impact Analysis

7.2.1. Supply Chain Disruptions

7.2.2. Demand Fluctuations

7.2.3. Shift in Product Mix

7.2.4. Reduced Industrial Activity

8.UAE Motor Insurance Market, By Type

8.1. UAE Motor Insurance Market Overview, by Type

8.1.1. UAE Motor Insurance Market Revenue Share, By Type, 2022 Vs 2030 (in %)

8.2. Third-Party Liability Insurance

8.2.1. UAE Motor Insurance Market, By Third-Party Liability Insurance, By Region, 2017-2030 (US$ Mn)

8.2.2. Market Dynamics for Third-Party Liability Insurance

8.2.2.1. Drivers

8.2.2.2. Restraints

8.2.2.3. Opportunities

8.2.2.4. Trends

8.3. Comprehensive Insurance

8.3.1. UAE Motor Insurance Market, By Comprehensive Insurance, By Region, 2017-2030 (US$ Mn)

8.3.2. Market Dynamics for Comprehensive Insurance

8.3.2.1. Drivers

8.3.2.2. Restraints

8.3.2.3. Opportunities

8.3.2.4. Trends

8.4. Specialized Motor Insurance

8.4.1. UAE Motor Insurance Market, By Specialized Motor Insurance, By Region, 2017-2030 (US$ Mn)

8.4.2. Market Dynamics for Specialized Motor Insurance

8.4.2.1. Drivers

8.4.2.2. Restraints

8.4.2.3. Opportunities

8.4.2.4. Trends

9.UAE Motor Insurance Market, By Product

9.1. UAE Motor Insurance Market Overview, By Product

9.1.1. UAE Motor Insurance Market Revenue Share, By Product, 2022 Vs 2030 (in %)

9.2. Motor Insurance for Individuals

9.2.1. UAE Motor Insurance Market, By Motor Insurance for Individuals, By Region, 2017-2030 (US$ Mn)

9.2.2. Market Dynamics for Motor Insurance for Individuals

9.2.2.1. Drivers

9.2.2.2. Restraints

9.2.2.3. Opportunities

9.2.2.4. Trends

9.3. Commercial Motor Insurance

9.3.1. UAE Motor Insurance Market, By Commercial Motor Insurance, By Region, 2017-2030 (US$ Mn)

9.3.2. Market Dynamics for Commercial Motor Insurance

9.3.2.1. Drivers

9.3.2.2. Restraints

9.3.2.3. Opportunities

9.3.2.4. Trends

9.4. Niche Motor Insurance

9.4.1. UAE Motor Insurance Market, By Niche Motor Insurance, By Region, 2017-2030 (US$ Mn)

9.4.2. Market Dynamics for Niche Motor Insurance

9.4.2.1. Drivers

9.4.2.2. Restraints

9.4.2.3. Opportunities

9.4.2.4. Trends

10. UAE Motor Insurance Market, By Application

10.1. UAE Motor Insurance Market Overview, by Application

10.1.1. UAE Motor Insurance Market Revenue Share, By Application, 2022 Vs 2030 (in %)

10.2. Personal Motor Insurance

10.2.1. UAE Motor Insurance Market, By Personal Motor Insurance, By Region, 2017-2030 (US$ Mn)

10.2.2. Market Dynamics for Personal Motor Insurance

10.2.2.1. Drivers

10.2.2.2. Restraints

10.2.2.3. Opportunities

10.2.2.4. Trends

10.3. Commercial Motor Insurance

10.3.1. UAE Motor Insurance Market, By Commercial Motor Insurance, By Region, 2017-2030 (US$ Mn)

10.3.2. Market Dynamics for Commercial Motor Insurance

10.3.2.1. Drivers

10.3.2.2. Restraints

10.3.2.3. Opportunities

10.3.2.4. Trends

10.4. Temporary or Short-Term Insurance

10.4.1. UAE Motor Insurance Market, By Temporary or Short-Term Insurance, By Region, 2017-2030 (US$ Mn)

10.4.2. Market Dynamics for Temporary or Short-Term Insurance

10.4.2.1. Drivers

10.4.2.2. Restraints

10.4.2.3. Opportunities

10.4.2.4. Trends

1. UAE Motor Insurance Market, By Price Range

1.1. UAE Motor Insurance Market Overview, by Price Range

1.1.1. UAE Motor Insurance Market Revenue Share, By Price Range, 2022 Vs 2030 (in %)

1.2. Economy Motor Insurance

1.2.1. UAE Motor Insurance Market, By Economy Motor Insurance, By Region, 2017-2030 (US$ Mn)

1.2.2. Market Dynamics for Economy Motor Insurance

1.2.2.1. Drivers

1.2.2.2. Restraints

1.2.2.3. Opportunities

1.2.2.4. Trends

1.3. Mid-Range Motor Insurance

1.3.1. UAE Motor Insurance Market, By Mid-Range Motor Insurance, By Region, 2017-2030 (US$ Mn)

1.3.2. Market Dynamics for Mid-Range Motor Insurance

1.3.2.1. Drivers

1.3.2.2. Restraints

1.3.2.3. Opportunities

1.3.2.4. Trends

1.4. Premium Motor Insurance

1.4.1. UAE Motor Insurance Market, By Premium Motor Insurance, By Region, 2017-2030 (US$ Mn)

1.4.2. Market Dynamics for Premium Motor Insurance

1.4.2.1. Drivers

1.4.2.2. Restraints

1.4.2.3. Opportunities

1.4.2.4. Trends

1. UAE Motor Insurance Market, By Distribution Channel

1.1. UAE Motor Insurance Market Overview, by Distribution Channel

1.1.1. UAE Motor Insurance Market Revenue Share, By Distribution Channel, 2022 Vs 2030 (in %)

1.2. Insurance Brokers

1.2.1. UAE Motor Insurance Market, By Insurance Brokers, By Region, 2017-2030 (US$ Mn)

1.2.2. Market Dynamics for Insurance Brokers

1.2.2.1. Drivers

1.2.2.2. Restraints

1.2.2.3. Opportunities

1.2.2.4. Trends

1.3. Direct Sales

1.3.1. UAE Motor Insurance Market, By Direct Sales, By Region, 2017-2030 (US$ Mn)

1.3.2. Market Dynamics for Direct Sales

1.3.2.1. Drivers

1.3.2.2. Restraints

1.3.2.3. Opportunities

1.3.2.4. Trends

1.4. Online Insurance Portals

1.4.1. UAE Motor Insurance Market, By Online Insurance Portals, By Region, 2017-2030 (US$ Mn)

1.4.2. Market Dynamics for Online Insurance Portals

1.4.2.1. Drivers

1.4.2.2. Restraints

1.4.2.3. Opportunities

1.4.2.4. Trends

2.UAE Motor Insurance Market, By End-User

2.1. UAE Motor Insurance Market Overview, by End-User

2.1.1. UAE Motor Insurance Market Revenue Share, By End-User, 2022 Vs 2030 (in %)

2.2. Individual Vehicle Owners

2.2.1. UAE Motor Insurance Market, By Individual Vehicle Owners, By Region, 2017-2030 (US$ Mn)

2.2.2. Market Dynamics for Individual Vehicle Owners

2.2.2.1. Drivers

2.2.2.2. Restraints

2.2.2.3. Opportunities

2.2.2.4. Trends

2.3. Businesses and Fleet Owners

2.3.1. UAE Motor Insurance Market, By Businesses and Fleet Owners, By Region, 2017-2030 (US$ Mn)

2.3.2. Market Dynamics for Businesses and Fleet Owners

2.3.2.1. Drivers

2.3.2.2. Restraints

2.3.2.3. Opportunities

2.3.2.4. Trends

2.4. Tourists and Temporary Residents

2.4.1. UAE Motor Insurance Market, By Tourists and Temporary Residents, By Region, 2017-2030 (US$ Mn)

2.4.2. Market Dynamics for Tourists and Temporary Residents

2.4.2.1. Drivers

2.4.2.2. Restraints

2.4.2.3. Opportunities

2.4.2.4. Trends

2.5. Government and Public Entities

2.5.1. UAE Motor Insurance Market, By Tourists and Temporary Residents, By Region, 2017-2030 (US$ Mn)

2.5.2. Market Dynamics for Tourists and Temporary Residents

2.5.2.1. Drivers

2.5.2.2. Restraints

2.5.2.3. Opportunities

2.5.2.4. Trends

3.UAE Motor Insurance Market, By Region

3.1. UAE Motor Insurance Market Overview, by Region

3.1.1. UAE Motor Insurance Market, By Region, 2022 vs 2030 (in%)

3.2. Type

3.2.1. UAE Motor Insurance Market, By Type, 2017-2030 (US$ Mn)

3.3. Product

3.3.1. UAE Motor Insurance Market, By Product, 2017-2030 (US$ Mn)

3.4. Application

3.4.1. UAE Motor Insurance Market, By Application, 2017-2030 (US$ Mn)

3.5. Price Range

3.5.1. UAE Motor Insurance Market, By Price Range, 2017-2030 (US$ Mn)

3.6. Distribution Channel

3.6.1. UAE Motor Insurance Market, By Distribution Channel, 2017-2030 (US$ Mn)

3.7. End-User

3.7.1. UAE Motor Insurance Market, By End-User, 2017-2030 (US$ Mn)

4.Company Profiles

4.1. Bajaj Allianz

4.1.1. Company Overview

4.1.2. Products/Services Portfolio

4.1.3. Geographical Presence

4.1.4. SWOT Analysis

4.1.5. Financial Summary

4.1.5.1. Market Revenue and Net Profit (2019-2022)

4.1.5.2. Business Segment Revenue Analysis

4.1.5.3. Geographical Revenue Analysis

4.2. Allstate Insurance Company

4.3. Admiral

4.4. Berkshire Hathaway, Inc

4.5. CHINA PACIFIC INSURANCE CO.

4.6. GEICO

4.7. Oman Motor Insurance

4.8. AXA Motor Insurance

4.9. Al Fuiairah National Insurance Company

4.10. ADNIC Motor Insurance

4.11. Noor Takaful Motor Insurance

4.12. Assicurazioni Generali S.P.A.

4.13. National General Insurance Co.

4.14. Orient Insurance Pisc

4.15. Abu Dhabi National Insurance Company

4.16. Union Insurance Co

4.17. Emirates Insurance Company

4.18. Islamic Arab Insurance Company

4.19. Al Dhafra Insurance Company

5.Research Methodology

5.1. Research Methodology

5.2. Phase I – Secondary Research

5.3. Phase II – Data Modelling

5.3.1. Company Share Analysis Model

5.3.2. Revenue Based Modelling

5.4. Phase III – Primary Research

5.5. Research Limitations

5.5.1. Assumptions

List of Figures

FIG. 1 UAE Motor Insurance Market: Research Methodology

FIG. 2 Market Size Estimation – Top Down & Bottom up Approach

FIG. 3 UAE Motor Insurance Market Segmentation

FIG. 4 UAE Motor Insurance Market, by Type, 2022 (US$ Mn)

FIG. 5 UAE Motor Insurance Market, By Product, 2022 (US$ Mn)

FIG. 6 UAE Motor Insurance Market, by Application, 2022 (US$ Mn)

FIG. 7 UAE Motor Insurance Market, by Data Trasnfer Speed, 2022 (US$ Mn)

FIG. 8 UAE Motor Insurance Market, by Distribution Channel, 2022 (US$ Mn)

FIG. 9 UAE Motor Insurance Market, by End-User, 2022 (US$ Mn)

FIG. 10 UAE Motor Insurance Market, by Geography, 2022 (US$ Mn)

FIG. 11 Attractive Investment Proposition, by Type, 2022

FIG. 12 Attractive Investment Proposition, By Product, 2022

FIG. 13 Attractive Investment Proposition, by Application, 2022

FIG. 14 Attractive Investment Proposition, by Price Range, 2022

FIG. 15 Attractive Investment Proposition, by Distribution Channel, 2022

FIG. 16 Attractive Investment Proposition, by End-User, 2022

FIG. 17 Attractive Investment Proposition, by Geography, 2022

FIG. 18 Market Share Analysis of Key UAE Motor Insurance Market Manufacturers, 2022

FIG. 19 Market Positioning of Key UAE Motor Insurance Market Manufacturers, 2022

FIG. 20 UAE Motor Insurance Market Value Contribution, By Type, 2022 & 2030 (Value %)

FIG. 21 UAE Motor Insurance Market, by THIRD-PARTY LIABILITY INSURANCE, Value, 2017-2030 (US$ Mn)

FIG. 22 UAE Motor Insurance Market, by COMPREHENSIVE INSURANCE, Value, 2017-2030 (US$ Mn)

FIG. 23 UAE Motor Insurance Market, by Specialized Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 24 UAE Motor Insurance Market Value Contribution, By Product, 2022 & 2030 (Value %)

FIG. 25 UAE Motor Insurance Market, by Motor Insurance for Individuals, Value, 2017-2030 (US$ Mn)

FIG. 26 UAE Motor Insurance Market, by Commercial Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 27 UAE Motor Insurance Market, by Niche Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 28 UAE Motor Insurance Market Value Contribution, By Application, 2022 & 2030 (Value %)

FIG. 29 UAE Motor Insurance Market, by Personal Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 30 UAE Motor Insurance Market, by Commercial Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 31 UAE Motor Insurance Market, by Temporary or Short-Term Insurance, Value, 2017-2030 (US$ Mn)

FIG. 32 UAE Motor Insurance Market Value Contribution, By Price Range, 2022 & 2030 (Value %)

FIG. 33 UAE Motor Insurance Market, by Economy Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 34 UAE Motor Insurance Market, by Mid-Range Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 35 UAE Motor Insurance Market, by Premium Motor Insurance, Value, 2017-2030 (US$ Mn)

FIG. 36 UAE Motor Insurance Market Value Contribution, By Distribution Channel, 2022 & 2030 (Value %)

FIG. 37 UAE Motor Insurance Market, by Insurance Brokers, Value, 2017-2030 (US$ Mn)

FIG. 38 UAE Motor Insurance Market, by Direct Sales, Value, 2017-2030 (US$ Mn)

FIG. 39 UAE Motor Insurance Market, by Online Insurance Portals, Value, 2017-2030 (US$ Mn)

FIG. 40 UAE Motor Insurance Market Value Contribution, By End-User, 2022 & 2030 (Value %)

FIG. 41 UAE Motor Insurance Market, by Individual Vehicle Owners, Value, 2017-2030 (US$ Mn)

FIG. 42 UAE Motor Insurance Market, by Businesses and Fleet Owners, Value, 2017-2030 (US$ Mn)

FIG. 43 UAE Motor Insurance Market, by Tourists and Temporary Residents, Value, 2017-2030 (US$ Mn)

FIG. 44 UAE Motor Insurance Market, by Government and Public Entities, Value, 2017-2030 (US$ Mn)

List of Tables

TABLE 1 Market Snapshot: UAE Motor Insurance Market

TABLE 2 UAE Motor Insurance Market: Market Drivers Impact Analysis

TABLE 3 UAE Motor Insurance Market: Market Restraints Impact Analysis

TABLE 4 UAE Motor Insurance Market, by Competitive Benchmarking, 2022

TABLE 5 UAE Motor Insurance Market, by Geographical Presence Analysis, 2022

TABLE 6 UAE Motor Insurance Market, by Key Strategies Analysis, 2022

TABLE 7 UAE Motor Insurance Market, by Third-Party Liability Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 8 UAE Motor Insurance Market, by Third-Party Liability Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 9 UAE Motor Insurance Market, by Comprehensive Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 10 UAE Motor Insurance Market, by Comprehensive Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 11 UAE Motor Insurance Market, by Specialized Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 12 UAE Motor Insurance Market, by Specialized Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 13 UAE Motor Insurance Market, by Motor Insurance for Individuals, By Region, 2017-2022 (US$ Mn)

TABLE 14 UAE Motor Insurance Market, by Motor Insurance for Individuals, By Region, 2023-2030 (US$ Mn)

TABLE 15 UAE Motor Insurance Market, by Commercial Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 16 UAE Motor Insurance Market, by Commercial Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 17 UAE Motor Insurance Market, by Niche Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 18 UAE Motor Insurance Market, by Niche Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 19 UAE Motor Insurance Market, by Personal Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 20 UAE Motor Insurance Market, by Personal Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 21 UAE Motor Insurance Market, by Commercial Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 22 UAE Motor Insurance Market, by Commercial Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 23 UAE Motor Insurance Market, by Temporary or Short-Term Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 24 UAE Motor Insurance Market, by Temporary or Short-Term Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 25 UAE Motor Insurance Market, by Economy Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 26 UAE Motor Insurance Market, by Economy Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 27 UAE Motor Insurance Market, by Mid-Range Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 28 UAE Motor Insurance Market, by Mid-Range Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 29 UAE Motor Insurance Market, by Premium Motor Insurance, By Region, 2017-2022 (US$ Mn)

TABLE 30 UAE Motor Insurance Market, by Premium Motor Insurance, By Region, 2023-2030 (US$ Mn)

TABLE 31 UAE Motor Insurance Market, by Insurance Brokers, By Region, 2023-2030 (US$ Mn)

TABLE 32 UAE Motor Insurance Market, by Insurance Brokers, By Region, 2017-2022 (US$ Mn)

TABLE 33 UAE Motor Insurance Market, by Direct Sales, By Region, 2023-2030 (US$ Mn)

TABLE 34 UAE Motor Insurance Market, by Direct Sales, By Region, 2017-2022 (US$ Mn)

TABLE 35 UAE Motor Insurance Market, by Online Insurance Portals, By Region, 2023-2030 (US$ Mn)

TABLE 36 UAE Motor Insurance Market, by Online Insurance Portals, By Region, 2017-2022 (US$ Mn)

TABLE 37 UAE Motor Insurance Market, by Individual Vehicle Owners, By Region, 2017-2022 (US$ Mn)

TABLE 38 UAE Motor Insurance Market, by Individual Vehicle Owners, By Region, 2023-2030 (US$ Mn)

TABLE 39 UAE Motor Insurance Market, by Businesses and Fleet Owners, By Region, 2017-2022 (US$ Mn)

TABLE 40 UAE Motor Insurance Market, by Businesses and Fleet Owners, By Region, 2023-2030 (US$ Mn)

TABLE 41 UAE Motor Insurance Market, by Tourists and Temporary Residents, By Region, 2017-2022 (US$ Mn)

TABLE 42 UAE Motor Insurance Market, by Tourists and Temporary Residents, By Region, 2023-2030 (US$ Mn)

TABLE 43 UAE Motor Insurance Market, by Government and Public Entities, By Region, 2017-2022 (US$ Mn)

TABLE 44 UAE Motor Insurance Market, by Government and Public Entities, By Region, 2023-2030 (US$ Mn)

TABLE 45 UAE Motor Insurance Market, by Type, 2017-2022 (US$ Mn)

TABLE 46 UAE Motor Insurance Market, by Type, 2023-2030 (US$ Mn)

TABLE 47 UAE Motor Insurance Market, By Product, 2017-2022 (US$ Mn)

TABLE 48 UAE Motor Insurance Market, By Product, 2023-2030 (US$ Mn)

TABLE 49 UAE Motor Insurance Market, by Application, 2017-2022 (US$ Mn)

TABLE 50 UAE Motor Insurance Market, by Application, 2023-2030 (US$ Mn)

TABLE 51 UAE Motor Insurance Market, by Price Range, By Region, 2017-2022 (US$ Mn)

TABLE 52 UAE Motor Insurance Market, by Price Range, By Region, 2023-2030 (US$ Mn)

TABLE 53 UAE Motor Insurance Market, by Distribution Channel, 2017-2022 (US$ Mn)

TABLE 54 UAE Motor Insurance Market, by Distribution Channel, 2023-2030 (US$ Mn)

TABLE 55 UAE Motor Insurance Market, by End-User, 2017-2022 (US$ Mn)

TABLE 56 UAE Motor Insurance Market, by End-User, 2023-2030 (US$ Mn)

TABLE 57 UAE Motor Insurance Market, by Region, 2017-2022 (US$ Mn)

TABLE 58 UAE Motor Insurance Market, by Region, 2023-2030 (US$ Mn)

What is the current Type of the UAE Motor Insurance Market?

In 2022, the  UAE Motor Insurance Market is expected to be worth USD 1524.8 million.

What is the predicted growth rate of the UAE Motor Insurance Marketbetween 2023 and 2030?

The UAE Motor Insurance Marketis estimated to increase at a CAGR of 2.30% between 2023 and 2030, reaching USD 1829.0 Million in 2030.

Which segment has the most market share in terms of type ?

In 2022, The third-party liability coverage segment leads the UAE motor insurance industry

Which end-user industry  segment governs the market demand for UAE Motor Insurance?

Individual Vehicle Owners have a higher market demand for the UAE motor insurance industry

Who are the major players in the  UAE Motor Insurance Market?

The top players include Bajaj Allianz, Allstate Insurance Company, Admiral, Berkshire Hathaway, Inc, CHINA PACIFIC INSURANCE CO., GEICO

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