At CAGR of 6.8% Two-Wheeler Insurance Market is projected to reach $171.88 billion by 2030

At CAGR of 6.8% Two-Wheeler Insurance Market is projected to reach $171.88 billion by 2030

U.S - CANADA, OREGON , USA, April 5, 2023 /EINPresswire.com/ -- Two-Wheeler Insurance Market by Policy Type (Third Party Liability Insurance and Comprehensive Insurance), Distribution Channel (Insurance Agents/Brokers, Direct Response, Banks, and Others), and Vehicle Age (New Vehicles, Used Vehicles): Global Opportunity Analysis and Industry Forecast, 2021-2030

The demand for two-wheeler insurance market is increasing among consumers as it ensures financial protection in the event of vehicle damage or theft. Along with financial protection of vehicle, it provides third-party liability coverage to insured person for causing injury, death, or property damage to other drivers, passengers, or pedestrians. Hence, having two-wheeler insurance is a legal requirement and necessity with the right level of cover in many states.

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The two-wheeler insurance market report offers a detailed analysis of prime factors that impact the market growth such as key market players, current market developments, and pivotal trends. The report includes an in-depth study of key determinants of the global market including drivers, challenges, restraints, and upcoming opportunities.

The two-wheeler insurance market report encompasses driving factors of the market coupled with prime obstacles and restraining factors that hamper the market growth. The report helps existing manufacturers and entry-level companies devise strategies to battle challenges and leverage lucrative opportunities to gain a foothold in the global market.

Segment review
The global two-wheeler insurance market share is segmented into policy type, distribution channel, vehicle age, and region. In terms of policy type, it is fragmented into third party liability insurance and comprehensive insurance. By distribution channel, it is segregated into insurance agents/brokers, direct response, banks, and others. As per vehicle age, it is divided into new vehicle and used vehicle. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global two-wheeler insurance industry include STATE FARM MUTUAL AUTOMOBILE INSURANCE, GEICO, ALLSTATE INSURANCE COMPANY, Bajaj Allianz General Insurance, Farmers, Dairyland, Liberty General Insurance Ltd., ACKO General Insurance Limited, Progressive Casualty Insurance Company, and USAA. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global two-wheeler insurance market.

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Top impacting factors
Rise in number of traffic accidents
Regulatory requirements for the adoption of two-wheeler insurance

Key Benefits For Stakeholders

The study provides an in-depth analysis of the two-wheeler insurance market forecast along with the current trends and future estimations to explain the imminent investment pockets.
The quantitative analysis of the two-wheeler insurance market trends from 2021 to 2030 is provided to determine the market potential.
Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the two-wheeler insurance market.

Two-Wheeler Insurance Market Report Highlights

Aspects Details
By Policy Type
Third Party Liability Insurance
Comprehensive Insurance
By Distribution Channel
Insurance Agents/Brokers
Direct Response
Banks
Others
By Vehicle Age
New Vehicle
Used Vehicle
By Region
North America (U.S., Canada)
Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
By Key Market Players
STATE FARM MUTUAL AUTOMOBILE INSURANCE
GEICO
ALLSTATE INSURANCE COMPANY
Bajaj Allianz General Insurance
Farmers
Dairyland
Liberty General Insurance Ltd.
ACKO General Insurance Limited
Progressive Casualty Insurance Company
USAA

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools & models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key Forces Shaping Two-Wheeler Insurance Market

3.2.1.High bargaining power of buyers
3.2.2.Moderate threat of substitutes
3.2.3.Moderate threat of new entrants
3.2.4.High competitive rivalry

3.3.Market dynamics

3.3.1.Drivers

3.3.1.1.Rise in number of traffic accidents
3.3.1.2.Regulatory requirements for adoption of two-wheeler insurance

3.3.2.Restraint

3.3.2.1.Lack of awareness regarding two-wheeler insurance policy

3.3.3.Opportunities

3.3.3.1.Increase in demand for two-wheeler insurance products and services
3.3.3.2.Implementation of technologies in existing product and service lines

3.4.COVID-19 impact analysis on two-wheeler insurance market

3.4.1.Impact on market size
3.4.2.Change in consumer trends, preferences, and budget impact due to COVID-19
3.4.3.Economic impact
3.4.4.Key player strategies to tackle negative impact in the industry
3.4.5.Opportunity analysis for 2-wheeler providers

CHAPTER 4:TWO-WHEELER INSURANCE MARKET, BY POLICY TYPE

4.1.Overview
4.2.Third-Party Liability Insurance

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.Comprehensive Insurance

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

CHAPTER 5:TWO-WHEELER INSURANCE MARKET, BY DISTRIBUTION CHANNEL

5.1.Overview
5.2.Insurance agents/brokers

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Direct response/insurance companies

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country
5.3.4.Banks

5.3.5.Key market trends, growth factors, and opportunities
5.3.6.Market size and forecast, by region
5.3.7.Market analysis, by country

5.4.Others

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

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