Market Overview:
The global equine insurance market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for equine insurance by the equestrian centers, farms, and other end-users across the globe. In addition, the rising awareness about horse health and safety among horse owners is also fueling the demand for equine insurance globally. On the basis of type, lifetime cover segment accounted for a major share of global equine insurance market in 2017 and is projected to maintain its dominance during forecast period. This can be attributed to increasing number of accidents involving horses that leads to huge financial losses for their owners thereby necessitating purchase of lifetime cover policy by them. However, non-lifetime cover segment is projected to grow at highest CAGR during forecast period owing high replacement cost associated with horses as well as growing popularity of this type policy among horse owners across globe. Based on application, equestrian centers segment held largest share in global equine insurance market in 2017 and it is anticipated that this trend would continue over next few years owing high number accidents occurring at these centers annually which often lead heavy financial losses for their operators/owners .
Product Definition:
Equine insurance policies protect horse owners from financial losses in the event their horses are injured, become ill, or die. Policies may also cover costs associated with boarding and training horses. The importance of equine insurance lies in the fact that horse owners can be faced with significant financial losses if their animals are involved in an accident or develop a serious illness.
Lifetime Cover:
Lifetime cover is a form of permanent insurance policy. It provides coverage for the cost of veterinary care, surgery or treatment throughout the animal's life. The cost of lifetime cover can be covered through two methods: payment by results and payment by premium. Payment by results refers to when an insurer pays a claim and in return receives a percentage or fixed amount from the insured party. This method is most commonly used for livestock such as cattle, horses, etc.
Non-lifetime Cover:
Non-lifetime cover is a form of insurance policy that provides coverage for veterinary expenses not covered by other policies. It can be used for animals born before the effective date of the policy or after the expiration date of an earlier policy. Non-lifetime policies are issued as whole life or term insurance and usually include an accident/health rider along with a death benefit.
Application Insights:
The equine centers application segment accounted for the largest revenue share of over 50% in 2017. The centers provide various facilities including boarding, training and care for horses. Centers also offer riding lessons, participate in racing events, breedings and other related activities which has resulted in high demand for such services across countries.
Equine farms application segment is expected to witness the fastest growth rate over the forecast period owing to rising awareness among owners regarding risk management practices while farming animals such as horses. In addition, a rise in number of farms across countries has increased competition between them resulting in higher cover rates being charged by insurers on a farm basis compared to non-farm basis.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period due to high awareness levels about EI and increasing demand for insurance policies. Moreover, presence of a large number of equine insurance companies will also help North America retain its dominance over other regions.
Asia Pacific is anticipated to witness significant growth during the forecast period owing to rising disposable income among middle-class population groups in countries such as China and India, which would result into increased spending on leisure activities such as riding horses or ponies. This factor would lead towards an increase in demand for equine insurances across this region over the next eight years. ‰vitamins A & D3 are absorbed well by horses from feed supplements but it has been shown that they do not act synergistically when used together (Synthetic Lubricants).
Growth Factors:
- Increasing demand for horse riding and horse racing
- Growing popularity of equestrian sports
- Rising number of horse owners and breeders
- Proliferation of equine health insurance products
- Increased awareness about the benefits of equine insurance
Scope Of The Report
Report Attributes
Report Details
Report Title
Equine Insurance Market Research Report
By Type
Lifetime Cover, Non-lifetime Cover, Accident-only, Other
By Application
Equestrian Centers, Farms, Others
By Companies
Zurich, Chubb, QBE, American Financial Group, Prudential, AXA XL, Everest Re Group, Sompo International, Agriculture Insurance Company of India, Tokio Marine, Validus, New India Assurance, ICICI Lombard, Blue Bridle, HUB, Gow-Gates
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
224
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Equine Insurance Market Report Segments:
The global Equine Insurance market is segmented on the basis of:
Types
Lifetime Cover, Non-lifetime Cover, Accident-only, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Equestrian Centers, Farms, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Zurich
- Chubb
- QBE
- American Financial Group
- Prudential
- AXA XL
- Everest Re Group
- Sompo International
- Agriculture Insurance Company of India
- Tokio Marine
- Validus
- New India Assurance
- ICICI Lombard
- Blue Bridle
- HUB
- Gow-Gates
Highlights of The Equine Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lifetime Cover
- Non-lifetime Cover
- Accident-only
- Other
- By Application:
- Equestrian Centers
- Farms
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Equine Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Equine insurance is a type of insurance that covers horses and other equines. It can protect the owner or rider from financial losses if something happens to the horse, such as an accident or illness.
Some of the key players operating in the equine insurance market are Zurich, Chubb, QBE, American Financial Group, Prudential, AXA XL, Everest Re Group, Sompo International, Agriculture Insurance Company of India, Tokio Marine, Validus, New India Assurance, ICICI Lombard, Blue Bridle, HUB, Gow-Gates.
The equine insurance market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Equine Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Equine Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Equine Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Equine Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Equine Insurance Market Size & Forecast, 2018-2028
4.5.1 Equine Insurance Market Size and Y-o-Y Growth
4.5.2 Equine Insurance Market Absolute $ Opportunity
Chapter 5 Global Equine Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Equine Insurance Market Size Forecast by Type
5.2.1 Lifetime Cover
5.2.2 Non-lifetime Cover
5.2.3 Accident-only
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Equine Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Equine Insurance Market Size Forecast by Applications
6.2.1 Equestrian Centers
6.2.2 Farms
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Equine Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Equine Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Equine Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Equine Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Equine Insurance Market Size Forecast by Type
9.6.1 Lifetime Cover
9.6.2 Non-lifetime Cover
9.6.3 Accident-only
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Equine Insurance Market Size Forecast by Applications
9.10.1 Equestrian Centers
9.10.2 Farms
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Equine Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Equine Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Equine Insurance Market Size Forecast by Type
10.6.1 Lifetime Cover
10.6.2 Non-lifetime Cover
10.6.3 Accident-only
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Equine Insurance Market Size Forecast by Applications
10.10.1 Equestrian Centers
10.10.2 Farms
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Equine Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Equine Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Equine Insurance Market Size Forecast by Type
11.6.1 Lifetime Cover
11.6.2 Non-lifetime Cover
11.6.3 Accident-only
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Equine Insurance Market Size Forecast by Applications
11.10.1 Equestrian Centers
11.10.2 Farms
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Equine Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Equine Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Equine Insurance Market Size Forecast by Type
12.6.1 Lifetime Cover
12.6.2 Non-lifetime Cover
12.6.3 Accident-only
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Equine Insurance Market Size Forecast by Applications
12.10.1 Equestrian Centers
12.10.2 Farms
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Equine Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Equine Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Equine Insurance Market Size Forecast by Type
13.6.1 Lifetime Cover
13.6.2 Non-lifetime Cover
13.6.3 Accident-only
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Equine Insurance Market Size Forecast by Applications
13.10.1 Equestrian Centers
13.10.2 Farms
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Equine Insurance Market: Competitive Dashboard
14.2 Global Equine Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Zurich
14.3.2 Chubb
14.3.3 QBE
14.3.4 American Financial Group
14.3.5 Prudential
14.3.6 AXA XL
14.3.7 Everest Re Group
14.3.8 Sompo International
14.3.9 Agriculture Insurance Company of India
14.3.10 Tokio Marine
14.3.11 Validus
14.3.12 New India Assurance
14.3.13 ICICI Lombard
14.3.14 Blue Bridle
14.3.15 HUB
14.3.16 Gow-Gates
