Global Private Vehicle Insurance Market showed healthy growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to latest study conducted by our analysts and industry experts, global private vehicle insurance market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.

The rising interest of consumers in owing personal vehicle due to ease of travelling as per their requirements and enhancement of lifestyle is escalating the growth of private vehicle market, and hence aiding to the growth of private vehicle insurance market. The security offered by various vehicle insurance schemes are expected to enhance the vehicle insurance market growth in the coming few years.

Private Vehicle Insurance Market Size Analysis By Region 2017

Market Dynamics

Private vehicle insurance market is anticipated to rise swiftly during the forecast period, owing to rising awareness of benefits offered by vehicle insurance such as financial security against road accidents, injury protection, motorist coverage and comprehensive coverage. Increasing sales of private vehicles across the world, and compulsion of purchasing vehicle insurance while buying a new motor or vehicle is fueling the growth of private vehicle insurance market.

Furthermore, rising road mishaps due to increase in traffic is propelling consumers to opt for vehicle insurance to help themselves at the unfortunate incidence of vehicle collision. Rise in number of vehicle insurance companies and agencies in various developed as well as developing countries are another reason for the growth of private vehicle insurance market. However, adaptation of autonomous automobiles or vehicles, coupled with escalating on-demand vehicle services and fragmentation of market can restrain the growth of personal vehicle insurance market.

Objectives Of The Study

1. To forecast the market size of private vehicle insurance market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of private vehicle insurance market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of private vehicle insurance market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of private vehicle insurance market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the private vehicle insurance market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of private vehicle insurance market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of private vehicle insurance market commercially.

Segment Analysis 

Personal insurance premium segment is anticipated to be showing tremendous growth during the forecast period, owing to multiple purpose coverage nature of this insurance type. Financial protection against vehicle damage and any serious human injury is the major benefits offered by this insurance type. Low payments on some premium vehicle insurance schemes are further expected to boost the growth of the segment.

Online insurance providers are expected to be the rapidly growing segment due to ease of services offered by them. Hassle-free and less paper work required in buying insurance from online insurance providers are some of the other major reasons for the growth of the segment.

Regional Analysis of Private Vehicle Insurance Market

North America is expected to hold the major revenue share in the global private vehicle insurance market, due to presence of higher proportion of conscious population who is aware of the benefits offered by personal vehicle insurance. Higher per capita income of people in the region, coupled with presence of numerous crucial market players are another reasons for the growth of private vehicle insurance market in North America.

Asia Pacific is projected to be the fastest growing region in the global private vehicle insurance market due to large population base in the countries like China and India, coupled with growing auto insurance market in the region. Rising awareness towards vitality of vehicle insurance in the region is another reason for the growth of personal vehicle insurance market in Asia Pacific.

Key players operating in Private Vehicle Insurance Market

Major players performing in private vehicle insurance market include Berkshire Hathaway Homestate Companies, Assicurazioni Generali S.p.A, Munich Re, Auto Club Insurance Association, Ping An Insurance, Allianz SE, China Life Insurance Group, The Allstate Corporation, Prudential plc, and American International Group, Inc.

Global Private Vehicle Insurance Market Report Offer You!

Global private vehicle insurance market Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

The global industry report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their

Why You Should Choose us?
• We offer the best industry research services.
• Our panel of experts has tremendous experience in their respective fields
• We use advanced analytical tools to provide highly personalized industry intelligence research.
• We provide easy-to- use information.
• Qualitative and Quantitative market research
• Market size assessment across various segments
• Potential early warning signals posed by existing market players
• Providing benchmark metrics by comparing an organization across the industry
• Competitive assessment which may impact business and product evaluation
• Insights about government or legal changes that might impact market statistics
• Operational cost optimization strategies