Global Marine Insurance Market 2024-2028

Global Marine Insurance Market 2024-2028

Technavio has been monitoring the marine insurance market and is forecast to grow by USD 5415.1 mn during 2023-2028, accelerating at a CAGR of 3.32% during the forecast period. Our report on the marine insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by use of multiple distribution channels, increase in premium contribution from emerging markets, and improvements in industry regulations.

Technavio's marine insurance market is segmented as below:

By Product

• Cargo
• Hull
• Offshore energy
• Marine liability

By End-user

• Cargo owners
• Traders
• Government

By Geographical Landscape

• Europe
• APAC
• South America
• Middle East and Africa
• North America

This study identifies the increase in M and A and collaborations as one of the prime reasons driving the marine insurance market growth during the next few years. Also, increase in the use of iot and increase in automation of business processes will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the marine insurance market covers the following areas:

• Marine insurance market sizing
• Marine insurance market forecast
• Marine insurance market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading marine insurance market vendors that include Allianz SE, American International Group Inc., Aon plc, Arthur J. Gallagher and Co., Atrium Underwriters Ltd., AXA Group, Beazley Plc, Chubb Ltd., Hannover Re, Munich Reinsurance Co., Samsung Fire and Marine Insurance Co. Ltd., Sompo Holdings Inc., Swiss Re Ltd., Thomas Miller and Co. Ltd., Tokio Marine Holdings Inc., United India Insurance Co. Ltd., and Zurich Insurance Co. Ltd.. Also, the marine insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.