What is the outlook for the Trade Credit Insurance Market?
The latest report by IMARC Group, titled “Trade Credit Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the trade credit insurance market statistics The report also includes competitor and regional analysis, and contemporary advancements in the market. The global trade credit insurance market size reached US$ 11.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
What is Trade Credit Insurance Market?
Trade credit insurance is an advantageous risk management tool that protects businesses against payment risks. It facilitates a smooth trade of goods and services and helps in improving economic stability by addressing losses due to non-payment. The insurance covers sellers, factoring companies, and banks, and financial institutions. This insurance plan largely benefits general insurance companies as it enables them to access new markets and multiple businesses, such as micro, small and medium enterprises (MSMEs).
Global Trade Credit Insurance Market Trends:
The global market is primarily driven by the rapid growth of small and medium-sized businesses. With the numerous initiatives undertaken by the governments of several countries to support micro, small and medium industries, the demand for trade credit insurance has also increased. Additionally, a considerable increase in the supply of goods and services and the rising import and export activities on the global level has accelerated the product demand in the market. Some of the other factors contributing to the market growth include the rising demand for insurance policies that offer benefits against commercial threats and significant growth in the banking, financial services, and insurance sector.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- American International Group Inc.
- Aon plc
- Axa S.A.
- China Export & Credit Insurance Corporation
- Chubb Limited (ACE Limited)
- Coface
- Euler Hermes (Allianz SE)
- Export Development Canada
- Nexus Underwriting Management Ltd.
- QBE Insurance Group Limited
- Willis Towers Watson Public Limited Company
- Zurich Insurance Group Ltd
Our report has categorized the market based on component, coverages, enterprises size, application and industry vertical.
Component:
- Product
- Services
Coverages:
- Whole Turnover Coverage
- Single Buyer Coverage
Enterprises Size:
- Large Enterprises
- Medium Enterprises
- Small Enterprises
Application:
- Domestic
- International
Industry Vertical:
- Food and Beverages
- IT and Telecom
- Metals and Mining
- Healthcare
- Energy and Utilities
- Automotive
- Others
Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: We are updating our reports, If you want latest primary and secondary data (2023-2028) 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Component, Coverages, Enterprises Size, Application, Industry Vertical, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | American International Group Inc., Aon plc, Axa S.A., China Export & Credit Insurance Corporation, Chubb Limited (ACE Limited), Coface, Euler Hermes (Allianz SE), Export Development Canada, Nexus Underwriting Management Ltd., QBE Insurance Group Limited, Willis Towers Watson Public Limited Company and Zurich Insurance Group Ltd. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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