The Cargo Transportation Insurance Global Market Report 2023, provides comprehensive information on the cargo transportation insurance market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Cargo Transportation Insurance Market’s Growth:
As per The Business Research Company’s Cargo Transportation Insurance Global Market Report 2023, the global cargo transportation insurance market is expected to grow from $52.26 billion in 2022 to $54.72 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cargo transportation insurance market is expected to reach $63.09 billion in 2027 at a CAGR of 3.6%.
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Technological advancements are a key trend gaining popularity in the cargo transportation insurance market. Major companies operating in the cargo transportation insurance market are adopting innovative technologies to sustain their position in the market. For instance, in May 2023, Breeze, a UK-based company that provides digital freight insurance, partnered with Ceedbox, a UK-based software company, and Cardinal Global Logistics, a UK-based freight forwarding company, to launch an automated insurance solution. This uses Ceedbox’s technology that reduces manual entry and human mistakes, resulting in fewer discrepancies and insurance claim concerns, enabling Cardinal to provide a more efficient and thorough service to its clients. It significantly reduces the time and effort required for accurate cargo insurance coverage.
The cargo transportation insurance market is segmented:
1) By Type: Land Cargo Insurance, Air Cargo Insurance, Marine Cargo Insurance, Parcel Transportation Insurance
2) By Forms Of Transport: Sea Transport, Domestic Rail Transport, International Rail Transport, Domestic Road Transport, International Road Transport, Air Transport
3) By Policy Type: Open Cover Cargo Policy, Specific Cargo Policy, Contingency Insurance Policy
4) By Application: Logistics industry, Transportation industry, Insurance industry, Other Applications
North America was the largest region in the cargo transportation insurance market in 2022.
The table of contents in TBRC’s cargo transportation insurance market report includes:
- Executive Summary
- Cargo Transportation Insurance Market Characteristics
- Cargo Transportation Insurance Market Trends And Strategies
- Cargo Transportation Insurance Market – Macro Economic Scenario
- Global Cargo Transportation Insurance Market Size and Growth
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- Global Cargo Transportation Insurance Market Competitive Benchmarking
- Global Cargo Transportation Insurance Market Competitive Dashboard
- Key Mergers And Acquisitions In The Cargo Transportation Insurance Market
- Cargo Transportation Insurance Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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