SHERIDAN, WYOMING, USA, September 16, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Fire Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global fire insurance market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global fire insurance market size reached a value of US$ 63.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 99.5 Billion by 2027 exhibiting a CAGR of 7.30% during 2022-2027.
Fire insurance represents a type of property insurance that provides coverage for damage and losses incurred, owing to a fire outbreak. It is commonly available as an add-on cover and designed to reimburse the costs of replacement, reconstruction, repair of the insured property destroyed or damaged in a fire accident, etc. Presently, insurance companies offer policies to cover property damage or loss caused by firefighters, water, smoke, etc. Consequently, it is gaining traction among businesses since fire insurance protects them from the financial burden in case of a fire breakout.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Fire Insurance Market Trends and Drivers:
The inflating need for financial security, on account of the increasing uncertainties, is primarily driving the fire insurance market. Additionally, the implementation of various stringent safety regulations by government bodies across the countries is further catalyzing the market growth.
Besides this, the growing consumer awareness towards numerous associated benefits offered by fire insurance is acting as another significant growth-inducing factor. Moreover, several product innovations and easy claim settlements are also positively influencing the global market.
Apart from this, the leading manufacturers are launching new policies with more comprehensive coverage, affordable premiums, and benefits to expand their customer base and gain a competitive edge, which is anticipated to fuel the fire insurance market over the forecasted period.
Global Fire Insurance Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Allianz SE, Amica Mutual Insurance Company, Assicurazioni Generali S.p.A., Axa S.A., Liberty Mutual Fire Insurance Company, Ping An Insurance Company of China Ltd., State Farm Insurance, The Allstate Corporation, The Government Employees Insurance Company and United Services Automobile Association.
The report has segmented the market on the basis of region, coverage, enterprise size and industry vertical.
Breakup by Coverage: • Standard Coverage • Optional Coverage
Breakup by Enterprise Size: • Large Enterprises • Small and Medium-sized Enterprises
Breakup by Industry Vertical: • Manufacturing • Healthcare • Energy and Utilities • Retail and Consumer Goods • IT and Telecom • Hospitality • Others
Breakup by Region: • North America: (United States, Canada) • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others) • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others) • Latin America: (Brazil, Mexico, Others) • Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report: • Market Performance (2016-2021) • Market Outlook (2022- 2027) • Porter’s Five Forces Analysis • Market Drivers and Success Factors • SWOT Analysis • Value Chain • Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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