The global demand for Trade Credit Insurance Market is presumed to reach the market size of nearly USD 27.85 MN by 2030 from USD 10.84 MN in 2022 with a CAGR of 12.52% under the study period 2023 - 2030.
Trade credit insurance is a type of insurance offered by governmental export credit agencies and private insurance companies to businesses to protect their finances from losses caused by risks such as insolvency, default, and bankruptcy. This insurance also includes a component of political risk insurance, which protects buyers from this risk of non-payment by foreign buyers. In other words, trade credit insurance protects businesses from various political and commercial hazards that might affect the finances of these businesses.
Market Dynamics
Rising preference of businesses protection and mitigation risk from non-payment across many types of goods and services and expansion of trade across the globe, demanding trade credit insurance are significantly driving the growth of the market. The recent outbreak of COVID-19 has led to increased uncertainties in global businesses and has led to the rising adoption of trade credit insurance to protect businesses. However, lack of awareness among many businesses about trade credit insurance, which is a major factor restraining market growth.
The research 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 an inclusive assessment of each segment in the global market of trade credit insurance. The growth and trends of trade credit insurance industry provide a holistic approach to this study.
Market Segmentation
This section of the trade credit insurance market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By Coverage
- Whole Turnover Coverage
- Single Buyer Coverage
By Application
By End-use
- Food & Beverage
- IT & Telecom
- Healthcare
- Energy
- Automotive
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Trade Credit Insurance market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Trade Credit 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 trade credit insurance market includeAllianz Trade, Atradius N.V, Coface, American International Group Inc, (AIG), Zurich, Chubb, QBE Insurance Group Limited, Great American Insurance Company, AON PLC, Credendo. This section consists of 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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