Market Overview:
The global horse 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 horse insurance due to the increasing popularity of horses as pets and for recreational activities. In addition, the rising awareness about safety measures that need to be taken while riding horses is also contributing significantly towards the growth of this market. On the basis of type, lifetime cover is expected to account for a major share in terms of revenue in 2018 and is projected to maintain its dominance throughout the forecast period. This can be attributed primarilyto th efact that lifetime cover offers comprehensive protection against all risks related top h orses, which makes it a preferred choice among horse owners across different regions .
Product Definition:
Horse Insurance is a type of insurance policy that provides coverage for the horse in case of an accident, illness, or death. The importance of Horse Insurance varies depending on the individual. Some people may feel that it is important to have coverage in case their horse gets injured or dies, while others may not feel that it is necessary.
Lifetime Cover:
Lifetime cover is a type of insurance policy that provides benefits for the rest of the animal's life. It can be taken out on horses, dogs, cats or any other pet. The most common benefit provided by lifetime cover policies is that it covers the cost of veterinary treatment should the animal become sick during its lifetime. In addition to this, it also covers costs related to feeding and housing in case of illness or injury and lastly death due to old age or accident.
Non-lifetime Cover:
Non-lifetime cover is a type of insurance policy that provides coverage for accidents and illnesses that occur during the term of the policy but not during its non-renewal period. The most common example would be an annual or monthly premium plan where the coverage would apply only for those months which in turn reduces or eliminates any claim made on it after its end.
Application Insights:
The equestrian centers segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to several factors such as increasing participation in events such as show jumping, dressage, and polo. Furthermore, rising popularity of competitive sports among horses such as eventing has increased the demand for insurance. The farms application segment is also expected to witness significant growth during the forecast period owing to various advantages associated with this type of policy including protection against risks related to livestock theft & damage caused by natural disasters like floods & earthquakes.
Other applications include racing stables, boarding kennels clubs and breeding farms which account for a smaller share in comparison with other segments due largelyto lack of coverage or under-coverage compared with equestrian centers or commercial riding schools only covers losses caused by horse injuries or illnesses that are covered under regular health insurance plans offered through companies operating within the U.S.
Regional Analysis:
North America dominated the global market in 2017. The growth is attributed to increasing awareness about equine healthcare, high disposable income of consumers, and availability of a wide range of policies. Moreover, presence of well-established insurance companies and favorable government initiatives are expected to drive the regional market further.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising demand for better animal health services coupled with improving economic conditions in emerging countries such as China and India. Furthermore, growing popularity for various sports including polo, show jumping & dressage as well as adventure riding will support regional growth during the forecast period.
Growth Factors:
- Increasing demand for horse insurance from the equestrian community as a result of increasing popularity of horse riding as a hobby and sport.
- Rising number of horse-owners in developed countries due to growing affluent population and increase in disposable income.
- Proliferation of online insurance platforms that offer competitive premiums and customised coverage options for horses, making it easier for people to buy insurance policies online.
- Growing awareness about the importance of horse insurance among riders and owners, who are increasingly realising the potential risks associated with owning horses such as injuries or death during accidents or illnesses.
Scope Of The Report
Report Attributes
Report Details
Report Title
Horse Insurance Market Research Report
By Type
Lifetime Cover, Non-lifetime Cover, Accident-only, Other,
By Application
Equestrian Centers, Farms, Others,
By Companies
AXA, KBIS British Equestrian Insurance, Equine World Insurance, E&L Insurance, NFU Mutual, Philip Baker Insurance, American Equine Insurance Group,
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
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Horse Insurance Market Report Segments:
The global Horse 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:
- AXA
- KBIS British Equestrian Insurance
- Equine World Insurance
- E&L Insurance
- NFU Mutual
- Philip Baker Insurance
- American Equine Insurance Group
Highlights of The Horse 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 Horse 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?
Horse insurance is a type of insurance that protects individuals and businesses from financial losses caused by the loss or theft of horses. Horse insurance can help cover costs associated with veterinary care, lost income due to the horse being out of commission, and other related expenses.
Some of the key players operating in the horse insurance market are AXA, KBIS British Equestrian Insurance, Equine World Insurance, E&L Insurance, NFU Mutual, Philip Baker Insurance, American Equine Insurance Group.
The horse insurance market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Horse Insurance Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Horse Insurance Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Horse Insurance Market - Supply Chain
4.5. Global Horse Insurance Market Forecast
4.5.1. Horse Insurance Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Horse Insurance Market Size (000 Units) and Y-o-Y Growth
4.5.3. Horse Insurance Market Absolute $ Opportunity
5. Global Horse Insurance Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Horse Insurance Market Size and Volume Forecast by Type
5.3.1. Lifetime Cover
5.3.2. Non-lifetime Cover
5.3.3. Accident-only
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Horse Insurance Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Horse Insurance Market Size and Volume Forecast by Application
6.3.1. Equestrian Centers
6.3.2. Farms
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Horse Insurance Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Horse Insurance Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Horse Insurance Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Horse Insurance Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Horse Insurance Demand Share Forecast, 2019-2026
9. North America Horse Insurance Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Horse Insurance Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Horse Insurance Market Size and Volume Forecast by Application
9.4.1. Equestrian Centers
9.4.2. Farms
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Horse Insurance Market Size and Volume Forecast by Type
9.7.1. Lifetime Cover
9.7.2. Non-lifetime Cover
9.7.3. Accident-only
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Horse Insurance Demand Share Forecast, 2019-2026
10. Latin America Horse Insurance Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Horse Insurance Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Horse Insurance Market Size and Volume Forecast by Application
10.4.1. Equestrian Centers
10.4.2. Farms
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Horse Insurance Market Size and Volume Forecast by Type
10.7.1. Lifetime Cover
10.7.2. Non-lifetime Cover
10.7.3. Accident-only
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Horse Insurance Demand Share Forecast, 2019-2026
11. Europe Horse Insurance Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Horse Insurance Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Horse Insurance Market Size and Volume Forecast by Application
11.4.1. Equestrian Centers
11.4.2. Farms
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Horse Insurance Market Size and Volume Forecast by Type
11.7.1. Lifetime Cover
11.7.2. Non-lifetime Cover
11.7.3. Accident-only
11.7.4. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Horse Insurance Demand Share, 2019-2026
12. Asia Pacific Horse Insurance Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Horse Insurance Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Horse Insurance Market Size and Volume Forecast by Application
12.4.1. Equestrian Centers
12.4.2. Farms
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Horse Insurance Market Size and Volume Forecast by Type
12.7.1. Lifetime Cover
12.7.2. Non-lifetime Cover
12.7.3. Accident-only
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Horse Insurance Demand Share, 2019-2026
13. Middle East & Africa Horse Insurance Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Horse Insurance Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Horse Insurance Market Size and Volume Forecast by Application
13.4.1. Equestrian Centers
13.4.2. Farms
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Horse Insurance Market Size and Volume Forecast by Type
13.7.1. Lifetime Cover
13.7.2. Non-lifetime Cover
13.7.3. Accident-only
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Horse Insurance Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Horse Insurance Market: Market Share Analysis
14.2. Horse Insurance Distributors and Customers
14.3. Horse Insurance Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AXA
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. KBIS British Equestrian Insurance
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Equine World Insurance
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. E&L Insurance
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. NFU Mutual
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Philip Baker Insurance
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. American Equine Insurance Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
