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PUBLISHER: IMARC | PRODUCT CODE: 1291340
PUBLISHER: IMARC | PRODUCT CODE: 1291340
Fire Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 144 Pages
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The global fire insurance market size reached US$ 69.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 106.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.24% during 2023-2028.
Fire insurance refers to a type of property insurance that provides coverage for damage and losses incurred due to a fire outbreak. It is generally available as an add-on cover that the individual can purchase by paying some extra amount. It is designed to reimburse the costs of replacement, reconstruction and repair of the insured property destroyed or damaged in a fire accident. Nowadays, insurance companies offer policies that also cover property damage or loss caused by firefighters, water or smoke. As a result, fire insurance has gained traction among businesses since it protects them from the financial burden in case of a fire breakout.
Fire Insurance Market Trends:
A significant rise in fire accidents and the growing need for financial security due to rising uncertainties represent the primary factors driving the market. Besides this, the increasing awareness about numerous benefits offered by fire insurance among the masses is another major growth-inducing factor. Additionally, the leading players are launching new policies with more comprehensive coverage, affordable premiums and benefits to expand their customer base and gain a competitive edge. This, in confluence with the implementation of favorable government policies and stringent safety standards, is catalyzing the product demand. For instance, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated general insurers to provide three standard products, namely Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha, and Bharat Laghu Udyam Suraksha, for homeowners and enterprises. These products will cover the home building and content, plant, machinery, stocks, furniture, and other assets. Furthermore, easy claim settlements, increasing consumer expenditure capacities and several product innovations are some of the other factors providing a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fire insurance market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on coverage, enterprise size and industry vertical.
Breakup by Coverage:
Standard Coverage
Optional Coverage
Breakup by Enterprise Size:
Large Enterprises
Small and Medium-sized Enterprises
Breakup by Industry Vertical:
Manufacturing
Healthcare
Energy and Utilities
Retail and Consumer Goods
IT and Telecom
Hospitality
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 Allianz SE, Amica Mutual Insurance Company, Assicurazioni Generali S.p.A., Axa S.A., Liberty Mutual Fire Insurance Company, Ping An Insurance Company of China Ltd., State Farm Insurance, The Allstate Corporation, The Government Employees Insurance Company and United Services Automobile Association.
Key Questions Answered in This Report:
- How has the global fire insurance market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global fire insurance market?
- What are the key regional markets?
- What is the breakup of the market based on the coverage?
- What is the breakup of the market based on the enterprise size?
- What is the breakup of the market based on the industry vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global fire insurance market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A4986
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 Fire Insurance Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Coverage
- 6.1 Standard Coverage
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Optional Coverage
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Enterprise Size
- 7.1 Large Enterprises
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Small and Medium-sized Enterprises
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Industry Vertical
- 8.1 Manufacturing
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Healthcare
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Energy and Utilities
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Retail and Consumer Goods
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 IT and Telecom
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Hospitality
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Others
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Allianz SE
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Amica Mutual Insurance Company
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 SWOT Analysis
- 14.3.3 Assicurazioni Generali S.p.A.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Axa S.A.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Liberty Mutual Fire Insurance Company
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 SWOT Analysis
- 14.3.6 Ping An Insurance Company of China Ltd.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 State Farm Insurance
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 SWOT Analysis
- 14.3.8 The Allstate Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 The Government Employees Insurance Company
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 SWOT Analysis
- 14.3.10 United Services Automobile Association
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 SWOT Analysis
- 14.3.1 Allianz SE
Product Code: SR112023A4986
List of Figures
- Figure 1: Global: Fire Insurance Market: Major Drivers and Challenges
- Figure 2: Global: Fire Insurance Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Fire Insurance Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Fire Insurance Market: Breakup by Coverage (in %), 2022
- Figure 5: Global: Fire Insurance Market: Breakup by Enterprise Size (in %), 2022
- Figure 6: Global: Fire Insurance Market: Breakup by Industry Vertical (in %), 2022
- Figure 7: Global: Fire Insurance Market: Breakup by Region (in %), 2022
- Figure 8: Global: Fire Insurance (Standard Coverage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Fire Insurance (Standard Coverage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Fire Insurance (Optional Coverage) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Fire Insurance (Optional Coverage) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Fire Insurance (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Fire Insurance (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Fire Insurance (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Fire Insurance (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Fire Insurance (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Fire Insurance (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Fire Insurance (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Fire Insurance (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Fire Insurance (Energy and Utilities) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Fire Insurance (Energy and Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Fire Insurance (Retail and Consumer Goods) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Fire Insurance (Retail and Consumer Goods) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Fire Insurance (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Fire Insurance (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Fire Insurance (Hospitality) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Fire Insurance (Hospitality) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Fire Insurance (Other Industry Verticals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Fire Insurance (Other Industry Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: North America: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: North America: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: United States: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: United States: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Canada: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Canada: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Asia-Pacific: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Asia-Pacific: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: China: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: China: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Japan: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Japan: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: India: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: India: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: South Korea: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: South Korea: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: Australia: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: Australia: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Indonesia: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Indonesia: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Others: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Others: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Europe: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Europe: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Germany: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Germany: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: France: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: France: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: United Kingdom: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: United Kingdom: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Italy: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Italy: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Spain: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Spain: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Russia: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Russia: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Others: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Others: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Latin America: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Latin America: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Brazil: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Brazil: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Mexico: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Mexico: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Others: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Others: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Middle East and Africa: Fire Insurance Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Middle East and Africa: Fire Insurance Market: Breakup by Country (in %), 2022
- Figure 78: Middle East and Africa: Fire Insurance Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Global: Fire Insurance Industry: SWOT Analysis
- Figure 80: Global: Fire Insurance Industry: Value Chain Analysis
- Figure 81: Global: Fire Insurance Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Fire Insurance Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Fire Insurance Market Forecast: Breakup by Coverage (in Million US$), 2023-2028
- Table 3: Global: Fire Insurance Market Forecast: Breakup by Enterprise Size (in Million US$), 2023-2028
- Table 4: Global: Fire Insurance Market Forecast: Breakup by Industry Vertical (in Million US$), 2023-2028
- Table 5: Global: Fire Insurance Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Fire Insurance Market: Competitive Structure
- Table 7: Global: Fire Insurance Market: Key Players
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