Electric Vehicle Insurance Trends and Forecast
The future of the global electric vehicle insurance market looks promising with opportunities in the personal vehicle and commercial vehicle applications. The global electric vehicle insurance market is expected to reach an estimated $216.1 billion by 2030 with a CAGR of 18.7% from 2024 to 2030. The major drivers for this market are growing number of electric hybrid vehicles and rising awareness about the importance of insurance policies.Electric Vehicle Insurance by Segment
The study includes a forecast for the global electric vehicle insurance by coverage, distribution channel, application, and region.Electric Vehicle Insurance Market by Coverage [Shipment Analysis by Value from 2018 to 2030]
- First Party Liability Coverage
- Third Party Liability Coverage
- Others
Electric Vehicle Insurance Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]
- Insurance Companies
- Banks
- Insurance Agents/ Brokers
- Others
Electric Vehicle Insurance Market by Application [Shipment Analysis by Value from 2018 to 2030]
- Personal Vehicle
- Commercial Vehicle
Electric Vehicle Insurance Market by Region [Shipment Analysis by Value from 2018 to 2030]
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Electric Vehicle Insurance Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric vehicle insurance companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric vehicle insurance companies profiled in this report include-- Allianz
- AXA
- Zurich Insurance
- Liberty Mutual Insurance
- Aviva
Electric Vehicle Insurance Market Insights
The publisher forecasts that insurance company is expected to witness the highest growth over the forecast period.Within this market, commercial vehicle is expected to witness the higher growth over the forecast period.
APAC is expected to witness highest growth over the forecast period.
Features of the Global Electric Vehicle Insurance Market
- Market Size Estimates: Electric vehicle insurance market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Electric vehicle insurance market size by coverage, distribution channel, application, and region in terms of value ($B).
- Regional Analysis: Electric vehicle insurance market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different coverages, distribution channels, applications, and regions for the electric vehicle insurance market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric vehicle insurance market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the electric vehicle insurance market size?Answer: The global electric vehicle insurance market is expected to reach an estimated $216.1 billion by 2030.
Q2. What is the growth forecast for electric vehicle insurance market?
Answer: The global electric vehicle insurance market is expected to grow with a CAGR of 18.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the electric vehicle insurance market?
Answer: The major drivers for this market are growing number of electric hybrid vehicles and rising awareness about the importance of insurance policies.
Q4. What are the major segments for electric vehicle insurance market?
Answer: The future of the electric vehicle insurance market looks promising with opportunities in the personal vehicle and commercial vehicle applications.
Q5. Who are the key electric vehicle insurance market companies?
Answer: Some of the key electric vehicle insurance companies are as follows:
- Allianz
- AXA
- Zurich Insurance
- Liberty Mutual Insurance
- Aviva
Answer: The publisher forecasts that insurance company is expected to witness the highest growth over the forecast period.
Q7. In electric vehicle insurance market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes,the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric vehicle insurance market by coverage (first party liability coverage, third party liability coverage, and others), distribution channel (insurance companies, banks, insurance agents/ brokers, and others), application (personal vehicle and commercial vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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Table of Contents
1. Executive Summary
2. Global Electric Vehicle Insurance Market: Market Dynamics
3. Market Trends and Forecast Analysis from 2018 to 2030
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- Allianz
- AXA
- Zurich Insurance
- Liberty Mutual Insurance
- Aviva
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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