Categories: Market Research

Fire Insurance Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Fire Insurance by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Fire Insurance Market:

https://www.thebusinessresearchcompany.com/report/fire-insurance-global-market-report

According to The Business Research Company’s Fire Insurance, The fire insurance market size has grown rapidly in recent years. It will grow from $74.07 billion in 2023 to $81.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%.  The  growth in the historic period can be attributed to law enforcement adoption, investments in research, conflict zone utilization, civil unrest and protests, military applications..

The fire insurance market size is expected to see rapid growth in the next few years. It will grow to $120.45 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.  The growth in the forecast period can be attributed to urbanization and policing needs, humanitarian and peacekeeping demand, regulations and lethal force restrictions, public perception and advocacy, military strategy and modernization.. Major trends in the forecast period include humanitarian missions and peacekeeping, technological advancements, civil unrest management, regulatory emphasis on non-lethal force, public perception and safety concerns..

A significant rise in fire accidents is expected to propel the growth of the fire insurance market going forward. A fire incident is defined as a fire on any property in the area. Most consumers, including businesses and homeowners, are inclined towards purchasing more fire insurance plans to protect themselves from future financial losses caused by damage to goods, property, and home contents due to fire incidents. For instance, according to a report published by CTIF, a France-based international association of fire and rescue services, in 2022, an estimated rise in the number of fire accidents accounting for 39,99,276 globally including 1,388,500 majorities of fires recorded in the USA followed by China accounting for 252,000. Therefore, a significant rise in fire accidents is propelling the growth of the fire insurance market.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=9345&type=smp

The fire insurance market covered in this report is segmented –

1) By Coverage: Standard Coverage, Optional Coverage

2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises

3) By Industry Vertical: Manufacturing, Healthcare, Energy And Utilities, Retail And Consumer Goods, IT And Telecom, Hospitality, Other Industry Vertical

Product innovation has emerged as the major trend gaining popularity in the fire insurance market. Major insurance companies operating in the fire insurance market are introducing innovative insurance packages to strengthen their position in the market. For instance, in February 2021, AXA Affin General Insurance Berhad, a Malaysia-based insurance company, launched an innovative fire insurance solution called BAPE, or Business Advantage Plus (Enhanced), a business protection policy specifically designed for small and medium enterprises (SMEs) that covers fire protection, fire consequential loss, and other perils including burglary, public liability, and compensation. The solution also provides distinct advantages to certain types of businesses, including food and beverage facilities, budget hotels, and learning centers.

The fire insurance market report table of contents includes:

 

  1. Executive Summary
  2. Fire Insurance Market Characteristics
  3. Fire Insurance Market Trends And Strategies
  4. Fire Insurance Market – Macro Economic Scenario
  5. Global Fire Insurance Market Size and Growth

.

.

.

  1. Global Fire Insurance Market Competitive Benchmarking
  2. Global Fire Insurance Market Competitive Dashboard
  3. Key Mergers And Acquisitions In The Fire Insurance Market
  4. Fire Insurance Market Future Outlook and Potential Analysis
  5. Appendix

Top Major Players:

  • Amica Mutual Insurance Company
  • Allstate Insurance Company
  • Allianz SE
  • AXA SA, Assicurazioni Generali SpA
  • Liberty Mutual Insurance Group

Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company  

Twitter: https://twitter.com/tbrc_info  

Facebook: https://www.facebook.com/TheBusinessResearchCompany  

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model  

Good PR News

Recent Posts

Light Detection and Ranging Market Expected Revenue , Growth And Industry Future 2030

Light Detection and Ranging (LiDAR) Market Overview The Light Detection and Ranging (LiDAR) technology is…

4 mins ago

Large Display Format Market Industry share, Growth And Analysis 2030

Large Display Format Market Set for Significant Growth, Projected to Reach USD 25.68 Billion by…

5 mins ago

Airline Technology Integration Market Key Insights, Drivers And Share Analysis – 2024

The airline technology integration global market report 2024 from The Business Research Company provides comprehensive…

10 mins ago

Creative Software Market Outlook, Overview And Forecast 2024-2033

The creative software global market report 2024from The Business Research Company provides comprehensive market statistics,…

25 mins ago

Global Dry Shampoo Market: Key Insights, Trends, and Opportunities 2030

The Dry Shampoo Market was valued at USD 6.37 billion in 2023 and is projected to reach…

58 mins ago

Aircraft Engine Market Development Status, Key Opportunities and Analysis 2030

Aircraft Engine Market Overview The global Aircraft Engine Market was valued at USD 90.11 billion in 2023 and is…

60 mins ago