Horse Insurance Market Size - By Type (Mortality, Major Medical & Surgical, Loss of Use, Liability), By Horse Type (American Quarter Horse, Arabian, Thoroughbred, Morgan, Appaloosa), By Application, By Distribution Channel & Forecast, 2024

Description

Global Horse Insurance Market will register 10% CAGR from 2024 to 2032. This growth is largely attributed to the rising equine ownership and the increasing awareness among horse owners regarding the importance of comprehensive insurance coverage for their valuable assets. As more individuals and organizations invest in horses for recreational, sporting, and commercial purposes, the demand for tailored insurance products is set to soar, ensuring financial protection against unforeseen events and losses.

The overall horse insurance industry is segregated based on Type, Horse Type, Application, Distribution Channel, and Region.

The Loss of Use segment within the horse insurance market is expected to experience notable expansion over the forecast period. This type of insurance provides coverage for horses that become permanently unable to perform their intended functions, such as racing, breeding, or recreational riding. As the financial implications of such losses can be substantial, horse owners are increasingly opting for Loss of Use insurance to safeguard their investments. The growing prevalence of equine injuries and illnesses, coupled with the high costs of veterinary care, further underscores the necessity for comprehensive loss of use coverage.

The Recreational segment, by application, is anticipated to drive significant demand within the horse insurance market from 2024 to 2032. With the rising popularity of equestrian activities and the increasing number of people engaging in horseback riding for leisure and sport, the need for insurance coverage for recreational horses is on the rise. This segment encompasses insurance policies that protect against various risks, including accidents, theft, and medical expenses. As more individuals recognize the value of protecting their equine companions, the recreational application segment is set to contribute substantially to market growth.

Europe horse insurance market is poised for commendable gains throughout the forecast period, owing to the region's well-established equine industry and strong regulatory frameworks. Europe's rich equestrian heritage, in line with significant investment in equine sports and breeding, drives the demand for specialized insurance products. The presence of leading insurance providers and comprehensive coverage options ensures that horse owners have access to tailored policies that meet their specific needs. Additionally, government support for animal welfare initiatives and the high prevalence of equestrian activities contribute to the robust growth of the horse insurance market in Europe.

Product Code: 10059

Chapter 1 Scope & Methodology

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Growing equestrian participation
  - 3.7.1.2 Rising value of equine assets
  - 3.7.1.3 Advancements in veterinary care
  - 3.7.1.4 Regulatory and legal requirements
  - 3.7.1.5 Global sporting events and sponsorship
- 3.7.2 Industry pitfalls & challenges
  - 3.7.2.1 High cost of premiums
  - 3.7.2.2 Limited market and competition
3.8 Growth potential analysis
3.9 Porter's analysis
- 3.9.1 Supplier power
- 3.9.2 Buyer power
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.9.5 Industry rivalry
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Type, 2021 - 2032 (USD Million)

5.1 Key trends
5.2 Mortality
5.3 Major medical & surgical
5.4 Loss of use
5.5 Liability
5.6 Others

Chapter 6 Market Estimates & Forecast, By Horse Type, 2021 - 2032 (USD Million)

6.1 Key trends
6.2 American quarter horse
6.3 Arabian
6.4 Thoroughbred
6.5 Morgan
6.6 Appaloosa
6.7 Others

Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2032 (USD Million)

7.1 Key trends
7.2 Recreational
7.3 Commercial

Chapter 8 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032 (USD Million)

8.1 Key trends
8.2 Agents & brokers
8.3 Direct response
8.4 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Million)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 American Equine Insurance Group
10.2 American Reliable Insurance Company
10.3 Animal Friends Insurance Services Limited
10.4 ASPCA (American Society for the Prevention of Cruelty to Animals)
10.5 Axa S.A.
10.6 Blue Bridle Insurance Agency
10.7 Broadstone Equine Insurance Services
10.8 Chubb Limited
10.9 De Wet De Villiers Brokers
10.10 EPIC Insurance Brokers and Consultants
10.11 Equisure, Inc.
10.12 Great American Insurance Group
10.13 Hallmark Insurance Company
10.14 Harry Hall Insurance Services
10.15 Hollard Group
10.16 Liberty Mutual Insurance Company
10.17 Lloyd's of London
10.18 Markel Corporation
10.19 Nationwide Mutual Insurance Company
10.20 ONE Insurance Ltd
10.21 Pet Assure, LLC
10.22 Pet Plan Limited
10.23 Quotezone Limited
10.24 The Insurance Emporium Limited
10.25 Trusted Choice

Horse Insurance Market Size - By Type (Mortality, Major Medical & Surgical, Loss of Use, Liability), By Horse Type (American Quarter Horse, Arabian, Thoroughbred, Morgan, Appaloosa), By Application, By Distribution Channel & Forecast, 2024 - 2032