The global demand for Cargo Transportation Insurance Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Cargo transportation insurance is a type of policy that provides coverage to different loss compensation and relevant charges of insured goods or property while it is in shipment from one to another place on any mode of transport. The mode of transportation comprised land, water, and air. It consists of compensation for loss caused owing to accidents and natural disasters. Based on transportation mode, it is further segregated into land cargo insurance, air cargo insurance, and marine cargo insurance. The target audience of cargo transportation insurance involves import and export trade enterprises, logistics companies, foreign investment companies, processing trade enterprises, and international engineering service companies.
Market Dynamics
Growing industrialization, globalization, expansion of the construction industry, and developing mutual trade coupled with revised trade policies are the main factors that expected to boost the cargo transportation, thus drive the market during the forecast period. In addition to this, rapid expansion in transport facilities across the globe, due to technological advancement and rising urbanization over the years, has supported the increase in transport activities of goods and commodities. This is another factor that is expected to boost the market in the coming years. Globally, growing trading activity and a significant rise in the import and export sector are anticipated to propel the market. On the flip side, high initial capital investments may impede the market during the prediction period.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of cargo transportation insurance.
Market Segmentation
The entire cargo transportation insurance market has been sub-categorized into type and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Type
- Land Cargo Insurance
- Air Cargo Insurance
- Marine Cargo Insurance
By Application
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for cargo transportation insurance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Cargo Transportation Insurance Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cargo transportation insurance market include Marsh, TIBA, Travelers Insurance, Halk Sigorta, Integro Group, Liberty Insurance Limited, Chubb, AGCS, Aon, Arthur J. Gallagher, Liberty Mutual Insurance, AIG, Marsh, Swiss Re, Zurich Insurance, Atrium, Samsung Fire & Marine Insurance, Mitsui Sumitomo Insurance, Munich Re, Peoples Insurance Agency, Sompo Japan Nipponkoa Insurance, Thomas Miller, XL Group Public Limited, Gard, and Tokio Marine Holdings. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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