Market Overview:
The global Fine Art Insurance market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for art and rising number of art collectors across the globe. In addition, the growing awareness about insurance among private and commercial customers is also propelling the growth of this market. On the basis of type, property insurance accounted for a major share of the global Fine Art Insurance market in 2017. This segment is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030 due to increasing demand for property insurance by individuals as well as businesses worldwide.
Product Definition:
Fine art insurance is a type of property insurance that covers the insured's artwork. The purpose of fine art insurance is to protect the owner's investment in their artwork in case it is damaged, lost, or stolen.
Property Insurance:
Insurance is a kind of security taken out against possible losses which may be suffered through the destruction, damage or loss of any property. The main reason for taking such insurance is to get compensation from the insurer in case of occurrence. In order to provide this service, insurers require some basic information about the artwork including its value, location and storage conditions etc., which are then used by them to provide an accurate estimate for premium payment.
Title Insurance:
A: Title Insurance is a form of property insurance which protects the buyer from financial responsibility to third parties for any losses or damages caused by the transfer of ownership of fine artworks, antiques, and collectibles. The policy also covers loss or damage to the artwork during shipment and while in storage.
Application Insights:
The private application segment accounted for the largest revenue share of over 60.0% in 2017 and is expected to witness significant growth over the forecast period. The rising purchasing power of consumers in developed economies such as U.K., Germany, and France has led to an increase in the value of art held by individuals, which has created a potential risk for insurers operating within these markets.
Commercial applications include galleries, museums, commercial display spaces and advertising agencies among others; this segment is anticipated to register a CAGR exceeding 8% from 2018 to 2030 owing to growing demand from companies displaying their products through advertisements or promoting their brands through various forms of media including billboards or posters displayed at public places or inside corporate offices.
Regional Analysis:
North America accounted for the largest share of over 40% in 2017. The region is expected to continue its dominance over the forecast period as well, with a CAGR of XX% from 2018 to 2030. This can be attributed to high disposable income and rising investments in luxury real estate properties across U.S.
Asia Pacific is expected witness significant growth during the forecast period owing to increasing number of fine art collectors, coupled with growing interest among individuals towards investing in such assets that offer diversification from stocks and bonds markets along with higher returns on investment.
Growth Factors:
- Increasing demand for fine art from emerging economies such as China and India
- Growing popularity of online auctions and sales platforms
- Proliferation of private art collectors, especially in developing countries
- Rising number of art exhibitions and fairs around the world
- Increased awareness about the importance of protecting valuable artwork
Scope Of The Report
Report Attributes
Report Details
Report Title
Fine Art Insurance Market Research Report
By Type
Property Insurance, Title Insurance, Others
By Application
Private, Commercial
By Companies
AXA, Chubb, Allianz, AIG, PingAn, CPIC
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
161
Number of Tables & Figures
113
Customization Available
Yes, the report can be customized as per your need.
Global Fine Art Insurance Market Report Segments:
The global Fine Art Insurance market is segmented on the basis of:
Types
Property Insurance, Title Insurance, Others
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
Private, Commercial
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:
- AXA
- Chubb
- Allianz
- AIG
- PingAn
- CPIC
Highlights of The Fine Art 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:
- Property Insurance
- Title Insurance
- Others
- By Application:
- Private
- Commercial
- 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 Fine Art 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Fine art insurance is a type of insurance that protects the value of artwork. It can help to cover losses due to theft, fire, or other accidents.
Some of the major players in the fine art insurance market are AXA, Chubb, Allianz, AIG, PingAn, CPIC.
The fine art 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 Fine Art 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 Fine Art Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Fine Art 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 Fine Art 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 Fine Art Insurance Market Size & Forecast, 2018-2028
4.5.1 Fine Art Insurance Market Size and Y-o-Y Growth
4.5.2 Fine Art Insurance Market Absolute $ Opportunity
Chapter 5 Global Fine Art 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 Fine Art Insurance Market Size Forecast by Type
5.2.1 Property Insurance
5.2.2 Title Insurance
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Fine Art 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 Fine Art Insurance Market Size Forecast by Applications
6.2.1 Private
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Fine Art 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 Fine Art 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 Fine Art Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Fine Art 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 Fine Art Insurance Market Size Forecast by Type
9.6.1 Property Insurance
9.6.2 Title Insurance
9.6.3 Others
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 Fine Art Insurance Market Size Forecast by Applications
9.10.1 Private
9.10.2 Commercial
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 Fine Art Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Fine Art 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 Fine Art Insurance Market Size Forecast by Type
10.6.1 Property Insurance
10.6.2 Title Insurance
10.6.3 Others
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 Fine Art Insurance Market Size Forecast by Applications
10.10.1 Private
10.10.2 Commercial
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 Fine Art Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Fine Art 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 Fine Art Insurance Market Size Forecast by Type
11.6.1 Property Insurance
11.6.2 Title Insurance
11.6.3 Others
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 Fine Art Insurance Market Size Forecast by Applications
11.10.1 Private
11.10.2 Commercial
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 Fine Art Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Fine Art 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 Fine Art Insurance Market Size Forecast by Type
12.6.1 Property Insurance
12.6.2 Title Insurance
12.6.3 Others
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 Fine Art Insurance Market Size Forecast by Applications
12.10.1 Private
12.10.2 Commercial
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) Fine Art Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Fine Art 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) Fine Art Insurance Market Size Forecast by Type
13.6.1 Property Insurance
13.6.2 Title Insurance
13.6.3 Others
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) Fine Art Insurance Market Size Forecast by Applications
13.10.1 Private
13.10.2 Commercial
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 Fine Art Insurance Market: Competitive Dashboard
14.2 Global Fine Art Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AXA
14.3.2 Chubb
14.3.3 Allianz
14.3.4 AIG
14.3.5 PingAn
14.3.6 CPIC
