Cargo Transportation Insurance Market Overview 2023-2032 – Market Growth Analysis, Trends And Drivers

The Business Research Company’s Cargo Transportation Insurance Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Cargo Transportation Insurance Global Market Report 2023 evaluates cargo transportation insurance market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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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%.

The rising marine transportation is expected to propel the growth of the cargo transportation insurance market going forward. Marine transportation, usually known as maritime transportation, is the movement of products, people, and resources by water utilizing various vehicles such as vessels, yachts, and boats. Cargo transportation insurance is a type of insurance policy that protects marine cargo against loss or damage caused by sea or air travel risks, as well as subsequent land and inland waterways. For instance, in January 2023, according to the United Nations Conference on Trade and Development, a US-based intergovernmental organization, international marine trade flows increased from 10,645 million tons in 2020 to 10,985 million tons in 2021. Therefore, rising marine transportation is driving the growth of the cargo transportation insurance market.

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The cargo transportation insurance market segments in the report are:

1) By ype: 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

The table of contents in TBRC’s cargo transportation insurance market report includes:

1. Executive Summary
2. Cargo Transportation Insurance Market Characteristics
3. Cargo Transportation Insurance Market Trends And Strategies
4. Cargo Transportation Insurance Market – Macro Economic Scenario

5.1. Global Cargo Transportation Insurance Historic Market Size and Growth, 2017 – 2022, Value ($ Billion)

6. Cargo Transportation Insurance Market Segmentation
7. Cargo Transportation Insurance Market Regional And Country Analysis

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27. Brazil Cargo Transportation Insurance Market
28. Middle East Cargo Transportation Insurance Market
29. Africa Cargo Transportation Insurance Market

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