Motor Vehicle Insurance Market

Vehicle insurance (also known as car insurance, motor insurance or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
Motor Vehicle Insurance Market contains market size and forecasts of Motor Vehicle Insurance in Global, including the following market information:
Global Motor Vehicle Insurance Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Motor Vehicle Insurance market was valued at 769.6 million in 2021 and is projected to reach US$ 1019.9 million by 2028, at a CAGR of 4.1% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Third Party Only Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Motor Vehicle Insurance include Allianz, Allstate Insurance, American International, Berkshire Hathaway Homestate, Peoples Insurance of China and Ping An Insurance, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
We surveyed the Motor Vehicle Insurance companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Motor Vehicle Insurance Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Motor Vehicle Insurance Market Segment Percentages, by Type, 2021 (%)

• Third Party Only
• Third Party Fire & Theft Insurance
• Comprehensive Insurance

Global Motor Vehicle Insurance Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Motor Vehicle Insurance Market Segment Percentages, by Application, 2021 (%)

• Passenger Car
• Commercial Car

Global Motor Vehicle Insurance Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Motor Vehicle Insurance Market Segment Percentages, By Region and Country, 2021 (%)

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Competitor Analysis
The report also provides analysis of leading market participants including:

• Key companies Motor Vehicle Insurance revenues in global market, 2017-2022 (estimated), ($ millions)
• Key companies Motor Vehicle Insurance revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

• Allianz
• Allstate Insurance
• American International
• Berkshire Hathaway Homestate
• Peoples Insurance of China
• Ping An Insurance