Market Overview:
The global property 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 awareness about property insurance and its benefits, rising number of natural disasters, and growing demand for property insurance in developing countries. The global property insurance market can be segmented on the basis of type into upstream, midstream, and downstream. The midstream segment is expected to account for the largest share of the global market in 2018 owing to its high adoption rate by small businesses and contractors. On the basis of application, the equipment company segment is expected to account for the largest share of the global market in 2018 followed by contractor and factory segments respectively.
Product Definition:
Property insurance is a type of insurance that provides protection for property owners against financial losses caused by damage to their property. Property insurance is important because it can help protect property owners from the potentially costly expenses associated with repairing or replacing their property in the event that it is damaged or destroyed.
Upstream:
Upstream is a technology platform that helps property insurers to access and analyze data from various sources such as building automation systems, fire detection & alarm systems, utility meters and others. It also provides tools to access real-time information. The technology enables insurers to make better decisions for underwriting, pricing and claims management processes.
The growth of the market can be attributed to the need for streamlining business operations in an attempt to reduce costs while increasing productivity.
Midstream:
The midstream segment is the part of property insurance that deals with pipelines and storage facilities. It protects both public as well as private interests in oil & gas transportation, refining, marketing, and distribution. The main objective of this segment is to ensure that risks associated with the transportation and storage are covered by making it reliable for both insurers and policyholders.
Application Insights:
The equipment company was the largest application segment in 2017 and accounted for a market share of over 40%. The segment is anticipated to witness significant growth on account of growing investments in construction and manufacturing sectors. Property insurers are also likely to benefit from the increasing demand for risk management solutions as companies continue their expansionary activities.
The other applications include retail stores, hospitals, hotels & restaurants and others. Other types of risks covered under this category include business continuity risks that may arise due to natural disasters such as earthquakes or floods among others. These types of risks are not covered under standard commercial policies but they can be added onto contracts written especially for these applications which is expected to drive the growth further down the line.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing investments in various industries, such as oil & gas, power generation and other manufacturing sectors. In addition, rising demand for downstream processing facilities by global manufacturers is anticipated to drive the regional market further.
The Middle East & Africa (MEA) region accounted for a significant share in 2017 owing to growing upstream activities across several countries including Saudi Arabia and Qatar. MEA also happens to be one of the most lucrative regions from an insurance perspective due to its high production of hydrocarbon products that require property protection during storage, transportation and sale/lease transactions post-offshore field development phase.
North America was valued at USD X billion in 2017.
Growth Factors:
- Increasing awareness about the benefits of property insurance: There is a growing awareness among people about the importance of property insurance and its benefits. This is driving more people to purchase property insurance policies.
- Rising number of natural disasters: The number of natural disasters is increasing every year, which is causing widespread damage to properties. This is leading more people to buy property insurance policies as they want to be protected from such disasters.
- Growing demand for customized policies: Property owners are increasingly looking for customized policies that offer specific coverage against risks that are relevant to them. This is driving the demand for property insurance products and services.
- . Rapid urbanization and development: The rate of urbanization and development around the world is accelerating, which is resulting in an increase in the value of properties being insured .This has led to a surge in demand forpropertyinsurance productsand services .5
Scope Of The Report
Report Attributes
Report Details
Report Title
Property Insurance Market Research Report
By Type
Upstream, Midstream, Downstream
By Application
Equipment Company, Contractor, Factory, Other
By Companies
Allianz, AIG, Aon, Marsh, Willis Towers Watson, AXA XLinsurance, Liberty Mutual, Intact Insurance, Travelers, Jardine Lloyd Thompson, Generali China Insurance, Nipponkoa Insurance, Sompo Japan Insurance
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
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Property Insurance Market Report Segments:
The global Property Insurance market is segmented on the basis of:
Types
Upstream, Midstream, Downstream
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
Equipment Company, Contractor, Factory, Other
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:
- Allianz
- AIG
- Aon
- Marsh
- Willis Towers Watson
- AXA XLinsurance
- Liberty Mutual
- Intact Insurance
- Travelers
- Jardine Lloyd Thompson
- Generali China Insurance
- Nipponkoa Insurance
- Sompo Japan Insurance
Highlights of The Property 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:
- Upstream
- Midstream
- Downstream
- By Application:
- Equipment Company
- Contractor
- Factory
- Other
- 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 Property 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?
Property insurance is a type of insurance that protects your property from damage or loss. If something happens to your home, the policy will help cover the costs of repairing or replacing the damaged property.
Some of the major companies in the property insurance market are Allianz, AIG, Aon, Marsh, Willis Towers Watson, AXA XLinsurance, Liberty Mutual, Intact Insurance, Travelers, Jardine Lloyd Thompson, Generali China Insurance, Nipponkoa Insurance, Sompo Japan Insurance.
The property insurance market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Property 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 Property Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Property 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 Property 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 Property Insurance Market Size & Forecast, 2018-2028
4.5.1 Property Insurance Market Size and Y-o-Y Growth
4.5.2 Property Insurance Market Absolute $ Opportunity
Chapter 5 Global Property 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 Property Insurance Market Size Forecast by Type
5.2.1 Upstream
5.2.2 Midstream
5.2.3 Downstream
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Property 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 Property Insurance Market Size Forecast by Applications
6.2.1 Equipment Company
6.2.2 Contractor
6.2.3 Factory
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Property 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 Property 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 Property Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Property 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 Property Insurance Market Size Forecast by Type
9.6.1 Upstream
9.6.2 Midstream
9.6.3 Downstream
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 Property Insurance Market Size Forecast by Applications
9.10.1 Equipment Company
9.10.2 Contractor
9.10.3 Factory
9.10.4 Other
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 Property Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Property 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 Property Insurance Market Size Forecast by Type
10.6.1 Upstream
10.6.2 Midstream
10.6.3 Downstream
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 Property Insurance Market Size Forecast by Applications
10.10.1 Equipment Company
10.10.2 Contractor
10.10.3 Factory
10.10.4 Other
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 Property Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Property 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 Property Insurance Market Size Forecast by Type
11.6.1 Upstream
11.6.2 Midstream
11.6.3 Downstream
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 Property Insurance Market Size Forecast by Applications
11.10.1 Equipment Company
11.10.2 Contractor
11.10.3 Factory
11.10.4 Other
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 Property Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Property 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 Property Insurance Market Size Forecast by Type
12.6.1 Upstream
12.6.2 Midstream
12.6.3 Downstream
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 Property Insurance Market Size Forecast by Applications
12.10.1 Equipment Company
12.10.2 Contractor
12.10.3 Factory
12.10.4 Other
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) Property Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Property 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) Property Insurance Market Size Forecast by Type
13.6.1 Upstream
13.6.2 Midstream
13.6.3 Downstream
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) Property Insurance Market Size Forecast by Applications
13.10.1 Equipment Company
13.10.2 Contractor
13.10.3 Factory
13.10.4 Other
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 Property Insurance Market: Competitive Dashboard
14.2 Global Property Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allianz
14.3.2 AIG
14.3.3 Aon
14.3.4 Marsh
14.3.5 Willis Towers Watson
14.3.6 AXA XLinsurance
14.3.7 Liberty Mutual
14.3.8 Intact Insurance
14.3.9 Travelers
14.3.10 Jardine Lloyd Thompson
14.3.11 Generali China Insurance
14.3.12 Nipponkoa Insurance
14.3.13 Sompo Japan Insurance
