Global Industry Analysts Predicts the World Motor Vehicle Insurance Market to Reach $955.8 Million by 2026

SAN FRANCISCO, June 28, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Motor Vehicle Insurance - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 8; Released: January 2022
Executive Pool: 804
Companies: 46 - Players covered include Allianz SE; Allstate Insurance Company; Berkshire Hathaway Inc.; Ping An Insurance (Group) Company of China, ltd.; Zurich Instruments AG and Others.
Coverage: All major geographies and key segments
Segments: Segment (Personal Insurance Premiums, Commercial Insurance Premiums)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Motor Vehicle Insurance Market to Reach $955.8 Million by 2026
Amid the COVID-19 crisis, the global market for Motor Vehicle Insurance estimated at US$709.2 Million, is projected to reach a revised size of US$955.8 Million by 2026, growing at a CAGR of 4.9% over the analysis period. Personal Insurance Premiums, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$725.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Insurance Premiums segment is readjusted to a revised 4.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $203.7 Million in 2021, While China is Forecast to Reach $191.5 Million by 2026
The Motor Vehicle Insurance market in the U.S. is estimated at US$203.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$191.5 Million by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:Zak AliDirector, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.