Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Powerboat Insurance Market by Type (Actual Cash Value, Agreed Amount Value), By Application (Commercial Use, Personal Use) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Powerboat Insurance Market by Type (Actual Cash Value, Agreed Amount Value), By Application (Commercial Use, Personal Use) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 266427 4200 Service & Software 377 172 Pages 4.9 (43)
                                          

Market Overview:


The global powerboat 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 powerboats across the globe, owing to their growing popularity for recreational and commercial purposes. In terms of type, the actual cash value segment is expected to hold a larger share of the market during the forecast period, as it offers coverage against accidental damage or loss of property without any deduction for depreciation. By application, commercial use is expected to be a key segment in terms of revenue contribution during the forecast period. This can be attributed to increased spending on leisure activities by businesses and rising demand for luxury boats among high net worth individuals (HNIs).


Global Powerboat Insurance Industry Outlook


Product Definition:


Powerboat insurance is a type of marine insurance that provides coverage for powerboats. This type of insurance is important because it can help protect the boat owner from financial losses in the event that the boat is damaged or destroyed.


Actual Cash Value:


Actual cash value (ACV) is a type of residual value insurance where the insurer makes a payment to the insured in the event of loss or damage to an asset, based on its current market price. The amount paid by ACV depends on two factors: (1) how much money could be made if the asset were sold today and (2) what price that sale would bring.


Agreed Amount Value:


The Agreed amount value is the monetary compensation a insurer pays to a third party for loss or damage suffered by an insured. It is also known as agreed value policy (APV) or excess insurance.


Application Insights:


The commercial use segment held the largest market share of over 60% in 2017. The growth can be attributed to the rising demand for passenger ferries across various regions, including North America and Europe. For instance, in 2015, there were around 300 commercial powerboats serving more than 20 million passengers on an annual basis across 30 European countries and Russia. Similarly, during summer season every year thousands of pleasure boats are used for chartering services across U.S., Canada and Mexico which contributes towards a significant part of the overall revenue generated by this segment annually.


Regional Analysis:


North America dominated the global powerboat insurance market in 2017. The region is expected to maintain its position over the forecast period. This can be attributed to increasing marine recreational activities, growing popularity of water sports and fishing as well as rising number of boating events such as races and regattas across U.S., Canada, Mexico and other Central & South American countries.


Asia Pacific is anticipated to witness significant growth over the next eight years owing to increasing disposable income among middle-class population groups in developing economies including China, India, Thailand & Singapore; Indonesia; Philippines; Vietnam; Australia & New Zealand among others which will lead towards an increase in demand for recreational boating activities thereby driving up insurance rates for powerboats used for these purposes from 2018 to 2030  The Middle East has a long coastline with many gulfs and bays ideal for water sports such as windsurfing, waterskiing etc.


Growth Factors:


  • Increasing demand for powerboats from the recreational and commercial sectors
  • Rising popularity of water sports and boating activities
  • Growing awareness about the benefits of powerboat insurance among boat owners
  • Proliferation of online insurance platforms that offer competitive rates and discounts on premiums
  • Expansion of the global marine insurance market, which is expected to create new opportunities for powerboat insurers

Scope Of The Report

Report Attributes

Report Details

Report Title

Powerboat Insurance Market Research Report

By Type

Actual Cash Value, Agreed Amount Value

By Application

Commercial Use, Personal Use

By Companies

Allianz, Allstate, AVIVA, AXA, Berkshire Hathaway, Zurich, Kemper Corporation, Markel Corporation, MetLife, PingAn, RAA, Sompo Japan Nipponkoa, State Farm, Westfield, Westpac

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

172

Number of Tables & Figures

121

Customization Available

Yes, the report can be customized as per your need.


Global Powerboat Insurance Market Report Segments:

The global Powerboat Insurance market is segmented on the basis of:

Types

Actual Cash Value, Agreed Amount Value

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

Commercial Use, Personal Use

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:

  1. Allianz
  2. Allstate
  3. AVIVA
  4. AXA
  5. Berkshire Hathaway
  6. Zurich
  7. Kemper Corporation
  8. Markel Corporation
  9. MetLife
  10. PingAn
  11. RAA
  12. Sompo Japan Nipponkoa
  13. State Farm
  14. Westfield
  15. Westpac

Global Powerboat Insurance Market Overview


Highlights of The Powerboat Insurance Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Actual Cash Value
    2. Agreed Amount Value
  1. By Application:

    1. Commercial Use
    2. Personal Use
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Powerboat 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

Global Powerboat Insurance Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Powerboat insurance is a type of insurance that covers the costs associated with owning, operating, and maintaining a powerboat. This type of coverage can include property damage, personal injury, and loss of life.

Some of the major companies in the powerboat insurance market are Allianz, Allstate, AVIVA, AXA, Berkshire Hathaway, Zurich, Kemper Corporation, Markel Corporation, MetLife, PingAn, RAA, Sompo Japan Nipponkoa, State Farm, Westfield, Westpac.

The powerboat 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 Powerboat 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 Powerboat Insurance Market Dynamics       4.2.1 Market Drivers       4.2.2 Market Restraints       4.2.3 Market Opportunity    4.3 Powerboat 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 Powerboat 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 Powerboat Insurance Market Size & Forecast, 2018-2028       4.5.1 Powerboat Insurance Market Size and Y-o-Y Growth       4.5.2 Powerboat Insurance Market Absolute $ Opportunity

Chapter 5 Global Powerboat 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 Powerboat Insurance Market Size Forecast by Type
      5.2.1 Actual Cash Value
      5.2.2 Agreed Amount Value
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Powerboat 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 Powerboat Insurance Market Size Forecast by Applications
      6.2.1 Commercial Use
      6.2.2 Personal Use
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Powerboat 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 Powerboat 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 Powerboat Insurance Analysis and Forecast
   9.1 Introduction
   9.2 North America Powerboat 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 Powerboat Insurance Market Size Forecast by Type
      9.6.1 Actual Cash Value
      9.6.2 Agreed Amount Value
   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 Powerboat Insurance Market Size Forecast by Applications
      9.10.1 Commercial Use
      9.10.2 Personal Use
   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 Powerboat Insurance Analysis and Forecast
   10.1 Introduction
   10.2 Europe Powerboat 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 Powerboat Insurance Market Size Forecast by Type
      10.6.1 Actual Cash Value
      10.6.2 Agreed Amount Value
   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 Powerboat Insurance Market Size Forecast by Applications
      10.10.1 Commercial Use
      10.10.2 Personal Use
   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 Powerboat Insurance Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Powerboat 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 Powerboat Insurance Market Size Forecast by Type
      11.6.1 Actual Cash Value
      11.6.2 Agreed Amount Value
   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 Powerboat Insurance Market Size Forecast by Applications
      11.10.1 Commercial Use
      11.10.2 Personal Use
   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 Powerboat Insurance Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Powerboat 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 Powerboat Insurance Market Size Forecast by Type
      12.6.1 Actual Cash Value
      12.6.2 Agreed Amount Value
   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 Powerboat Insurance Market Size Forecast by Applications
      12.10.1 Commercial Use
      12.10.2 Personal Use
   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) Powerboat Insurance Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Powerboat 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) Powerboat Insurance Market Size Forecast by Type
      13.6.1 Actual Cash Value
      13.6.2 Agreed Amount Value
   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) Powerboat Insurance Market Size Forecast by Applications
      13.10.1 Commercial Use
      13.10.2 Personal Use
   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 Powerboat Insurance Market: Competitive Dashboard
   14.2 Global Powerboat Insurance Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Allianz
      14.3.2 Allstate
      14.3.3 AVIVA
      14.3.4 AXA
      14.3.5 Berkshire Hathaway
      14.3.6 Zurich
      14.3.7 Kemper Corporation
      14.3.8 Markel Corporation
      14.3.9 MetLife
      14.3.10 PingAn
      14.3.11 RAA
      14.3.12 Sompo Japan Nipponkoa
      14.3.13 State Farm
      14.3.14 Westfield
      14.3.15 Westpac

Our Trusted Clients

Contact Us