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PUBLISHER: IMARC | PRODUCT CODE: 1379047
PUBLISHER: IMARC | PRODUCT CODE: 1379047
Boiler Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 142 Pages
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Abstract
The global boiler insurance market size reached US$ 10.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.6 Billion by 2028, exhibiting a growth rate (CAGR) of 14.0% during 2022-2028.
Boiler insurance refers to a type of insurance designed to cover the damages and losses caused by explosions inside or outside the boiler. A boiler is a steel pressure vessel in which fluids are heated at extremely high temperatures to generate steam or vapor. The vapors exit the boiler for use in various processes or heating applications, including water heating, central heating, boiler-based power generation, cooking and sanitation. The insurance provides coverage for the physical damages and financial loss incurred by repairing or replacing the damaged equipment after the breakdown. The insurance also covers the cost of replacing perishable goods, which are spoiled due to the failed equipment.
Boiler Insurance Market Trends:
Rapid digitization in the insurance sector, along with increasing requirement for reducing the maintenance and repairing costs associated with boilers and other equipment, is one of the key factors driving the growth of the market. Moreover, small and medium-sized enterprises are expanding their businesses and relying more on third-party liability coverage solutions to mitigate their risks and losses, which is providing a thrust to the market growth. Insurance providers are introducing novel strategies and policies to increase revenue and enhance the overall customer experience. Additionally, various technological advancements, such as the integration of connected devices with voice-enabled troubleshooting services, are acting as other growth-inducing factors. These novel solutions enable the consumers to use advanced artificial intelligence (AI)-based services to connect directly with the organization and seek redressal in real-time. Other factors, including rapid industrialization, along with the advent of insurance policies with cost-effective premium rates, are acting as other growth-inducing factors.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global boiler insurance market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on boiler type, boiler fuel, coverage type and end user.
Breakup by Boiler Type:
Fire-Tube
Water-Tube
Breakup by Boiler Fuel:
Natural Gas
Coal
Oil
Others
Breakup by Coverage Type:
Boiler Cover
Boiler and Central Heating Cover
Boiler, Central Heating, Plumbing and Wiring Cover
Breakup by End User:
Chemicals
Refineries
Metal and Mining
Food and Beverages
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aviva plc, Axa S.A., Bosch Thermotechnology Ltd. (Robert Bosch GmbH), British Gas (Centrica PLC), CORGI HomePlan Ltd (OVO Group Ltd), Domestic & General Group Limited, Future Generali India Insurance Co. Ltd., HomeServe Membership Ltd., Tata AIG General Insurance Company Limited (Tata Sons Private Limited), The Hartford Steam Boiler Inspection and Insurance Company and YourCare Services Ltd.
Key Questions Answered in This Report
- 1. How big is the global boiler insurance market?
- 2. What is the expected growth rate of the global boiler insurance market during 2023-2028?
- 3. What are the key factors driving the global boiler insurance market?
- 4. What has been the impact of COVID-19 on the global boiler insurance market?
- 5. What is the breakup of the global boiler insurance market based on the boiler type?
- 6. What is the breakup of the global boiler insurance market based on the boiler fuel?
- 7. What is the breakup of the global boiler insurance market based on the coverage type?
- 8. What is the breakup of the global boiler insurance market based on the end user?
- 9. What are the key regions in the global boiler insurance market?
- 10. Who are the key players/companies in the global boiler insurance market?
Product Code: SR112023A3903
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Boiler Insurance Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Boiler Type
- 6.1 Fire-Tube
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Water-Tube
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Boiler Fuel
- 7.1 Natural Gas
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Coal
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Oil
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Coverage Type
- 8.1 Boiler Cover
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Boiler and Central Heating Cover
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Boiler, Central Heating, Plumbing and Wiring Cover
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by End User
- 9.1 Chemicals
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Refineries
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Metal and Mining
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Food and Beverages
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Others
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Aviva plc
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Axa S.A.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Bosch Thermotechnology Ltd. (Robert Bosch GmbH)
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 British Gas (Centrica PLC)
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 CORGI HomePlan Ltd (OVO Group Ltd)
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Domestic & General Group Limited
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 SWOT Analysis
- 15.3.7 Future Generali India Insurance Co. Ltd.
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 HomeServe Membership Ltd.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 Tata AIG General Insurance Company Limited (Tata Sons Private Limited)
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 The Hartford Steam Boiler Inspection and Insurance Company
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 YourCare Services Ltd.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.1 Aviva plc
Product Code: SR112023A3903
List of Figures
- Figure 1: Global: Boiler Insurance Market: Major Drivers and Challenges
- Figure 2: Global: Boiler Insurance Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Boiler Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Boiler Insurance Market: Breakup by Boiler Type (in %), 2022
- Figure 5: Global: Boiler Insurance Market: Breakup by Boiler Fuel (in %), 2022
- Figure 6: Global: Boiler Insurance Market: Breakup by Coverage Type (in %), 2022
- Figure 7: Global: Boiler Insurance Market: Breakup by End User (in %), 2022
- Figure 8: Global: Boiler Insurance Market: Breakup by Region (in %), 2022
- Figure 9: Global: Boiler Insurance (Fire-Tube) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Boiler Insurance (Fire-Tube) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Boiler Insurance (Water-Tube) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Boiler Insurance (Water-Tube) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Boiler Insurance (Natural Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Boiler Insurance (Natural Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Boiler Insurance (Coal) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Boiler Insurance (Coal) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Boiler Insurance (Oil) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Boiler Insurance (Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Boiler Insurance (Other Boiler Fuels) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Boiler Insurance (Other Boiler Fuels) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Boiler Insurance (Boiler Cover) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Boiler Insurance (Boiler Cover) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Boiler Insurance (Boiler and Central Heating Cover) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Boiler Insurance (Boiler and Central Heating Cover) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Boiler Insurance (Boiler, Central Heating, Plumbing and Wiring Cover) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Boiler Insurance (Boiler, Central Heating, Plumbing and Wiring Cover) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Boiler Insurance (Chemicals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Boiler Insurance (Chemicals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Boiler Insurance (Refineries) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Boiler Insurance (Refineries) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Boiler Insurance (Metal and Mining) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Boiler Insurance (Metal and Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Boiler Insurance (Food and Beverages) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Boiler Insurance (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Global: Boiler Insurance (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Global: Boiler Insurance (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: North America: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: North America: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: United States: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: United States: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Canada: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Canada: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Asia-Pacific: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Asia-Pacific: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: China: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: China: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Japan: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Japan: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: India: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: India: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: South Korea: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: South Korea: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Australia: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Australia: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Indonesia: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Indonesia: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Others: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Others: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Europe: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Europe: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Germany: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Germany: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: France: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: France: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: United Kingdom: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: United Kingdom: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Italy: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Italy: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Spain: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Spain: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Russia: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Russia: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Others: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Others: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Latin America: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Latin America: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Brazil: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Brazil: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Mexico: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Mexico: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Others: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Others: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Middle East and Africa: Boiler Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 84: Middle East and Africa: Boiler Insurance Market: Breakup by Country (in %), 2022
- Figure 85: Middle East and Africa: Boiler Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 86: Global: Boiler Insurance Industry: SWOT Analysis
- Figure 87: Global: Boiler Insurance Industry: Value Chain Analysis
- Figure 88: Global: Boiler Insurance Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Boiler Insurance Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Boiler Insurance Market Forecast: Breakup by Boiler Type (in Million US$), 2023-2028
- Table 3: Global: Boiler Insurance Market Forecast: Breakup by Boiler Fuel (in Million US$), 2023-2028
- Table 4: Global: Boiler Insurance Market Forecast: Breakup by Coverage Type (in Million US$), 2023-2028
- Table 5: Global: Boiler Insurance Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 6: Global: Boiler Insurance Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Boiler Insurance Market: Competitive Structure
- Table 8: Global: Boiler Insurance Market: Key Players
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