Global New Energy Vehicle (NEV) Insurance Market 2024 by Company, Regions, Type and Application, Forecast to 2030

Global New Energy Vehicle (NEV) Insurance Market 2024 by Company, Regions, Type and Application, Forecast to 2030

According to our (Global Info Research) latest study, the global New Energy Vehicle (NEV) Insurance market size was valued at USD 16200 million in 2023 and is forecast to a readjusted size of USD 75380 million by 2030 with a CAGR of 24.6% during review period.

New Energy Vehicle (NEV) Insurance refers to a type of automotive insurance specifically designed to cover vehicles that fall under the category of "new energy vehicles." New energy vehicles are a subset of vehicles that use alternative energy sources and technologies for propulsion, with the primary focus on reducing emissions and dependence on fossil fuels. These vehicles include electric vehicles (EVs), plug-in hybrid vehicles (PHEVs), and other environmentally friendly propulsion technologies.

Increasing NEV Adoption: The adoption of new energy vehicles, including electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs), was growing steadily. As more consumers and businesses shifted towards NEVs to reduce emissions and embrace sustainable transportation, the demand for NEV insurance was also on the rise.

Customized Insurance Products: Insurance companies were developing specialized insurance products tailored to the unique characteristics of NEVs. These products aimed to provide coverage for battery-related issues, charging equipment, and other components specific to electric and hybrid vehicles.

Battery Coverage Focus: The battery is a critical component of NEVs, and many insurance providers were offering coverage specifically for battery-related risks. This coverage included scenarios such as battery damage, theft, and loss of capacity.

Charging Infrastructure Support: Some NEV insurance policies were starting to include coverage for home charging stations and public charging infrastructure. This coverage aimed to address potential issues related to charging equipment damage or liability.

The Global Info Research report includes an overview of the development of the New Energy Vehicle (NEV) Insurance industry chain, the market status of PHEV (Compulsory Insurance, Optional Insurance), BEV (Compulsory Insurance, Optional Insurance), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of New Energy Vehicle (NEV) Insurance.

Regionally, the report analyzes the New Energy Vehicle (NEV) Insurance markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global New Energy Vehicle (NEV) Insurance market, with robust domestic demand, supportive policies, and a strong manufacturing base.

Key Features:

The report presents comprehensive understanding of the New Energy Vehicle (NEV) Insurance market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the New Energy Vehicle (NEV) Insurance industry.

The report involves analyzing the market at a macro level:

Market Sizing and Segmentation: Report collect data on the overall market size, including the revenue generated, and market share of different by Type (e.g., Compulsory Insurance, Optional Insurance).

Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the New Energy Vehicle (NEV) Insurance market.

Regional Analysis: The report involves examining the New Energy Vehicle (NEV) Insurance market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.

Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the New Energy Vehicle (NEV) Insurance market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.

The report also involves a more granular approach to New Energy Vehicle (NEV) Insurance:

Company Analysis: Report covers individual New Energy Vehicle (NEV) Insurance players, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.

Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards New Energy Vehicle (NEV) Insurance This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (PHEV, BEV).

Technology Analysis: Report covers specific technologies relevant to New Energy Vehicle (NEV) Insurance. It assesses the current state, advancements, and potential future developments in New Energy Vehicle (NEV) Insurance areas.

Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the New Energy Vehicle (NEV) Insurance market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.

Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.

Market Segmentation

New Energy Vehicle (NEV) Insurance market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.

Market segment by Type
Compulsory Insurance
Optional Insurance

Market segment by Application
PHEV
BEV

Market segment by players, this report covers
PICC
Progressive Corporation
Ping An
AXA
Sompo Japan
Tokyo Marine
Travelers Group
Liberty Mutual Group
Zurich
CPIC
Tesla
Nationwide
Mitsui Sumitomo Insurance
Aviva
Berkshire Hathaway
Old Republic International
Auto Owners
Generali Group
MAPFRE
Chubb
AmTrust NGH

Market segment by regions, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
South America (Brazil, Argentina and Rest of South America)
Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)

The content of the study subjects, includes a total of 13 chapters:

Chapter 1, to describe New Energy Vehicle (NEV) Insurance product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top players of New Energy Vehicle (NEV) Insurance, with revenue, gross margin and global market share of New Energy Vehicle (NEV) Insurance from 2019 to 2024.

Chapter 3, the New Energy Vehicle (NEV) Insurance competitive situation, revenue and global market share of top players are analyzed emphatically by landscape contrast.

Chapter 4 and 5, to segment the market size by Type and application, with consumption value and growth rate by Type, application, from 2019 to 2030.

Chapter 6, 7, 8, 9, and 10, to break the market size data at the country level, with revenue and market share for key countries in the world, from 2019 to 2024.and New Energy Vehicle (NEV) Insurance market forecast, by regions, type and application, with consumption value, from 2025 to 2030.

Chapter 11, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.

Chapter 12, the key raw materials and key suppliers, and industry chain of New Energy Vehicle (NEV) Insurance.

Chapter 13, to describe New Energy Vehicle (NEV) Insurance research findings and conclusion.