openPR Logo
Press release

Marine Insurance Market Share Will Hit US$ 40.5 Billion By 2028 | Growth With Recent Trends & Demand

08-28-2023 09:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Marine Insurance Market Share Will Hit US$ 40.5 Billion By 2028 |

According to the latest report by IMARC Group, titled "Marine Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' the global marine insurance market size reached US$ 32.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.

Request a Free PDF Sample of the Report: https://www.imarcgroup.com/marine-insurance-market/requestsample

Marine insurance refers to a type of insurance policy that covers the loss and damage of ships, cargo vessels, and terminals. It also includes other means of transportation by which goods are transferred between the point of origin and the final destination. It provides financial coverage against all potential marine-related perils exposed to the insured goods during transit. In recent years, marine insurance has gained immense popularity due to its flexibility, comprehensive coverage, hassle-free claim settlements, and easy customization according to customers' needs.

Marine Insurance Market Trends:

Marine insurance is usually required during import and export trade proceedings to meet the strict regulatory compliance of different countries. As a result, the increasing export activities across the globe represent the primary factor driving the market growth. In addition, governments of various countries are introducing stringent policies mandating marine insurance for vessels used in commercial transportation. Along with this, the implementation of favorable government initiatives to promote local manufacturing and international trade has augmented the product demand to insure goods or cargo against potential accidents. Moreover, with the expanding e-commerce industry, the rising adoption of marine shipping to carry out cross-border transportation of goods and expand product reach has catalyzed the market growth. Furthermore, several key players are leveraging advanced technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML), for calculating existing and predicting future risks accurately to enhance risk management and streamline claim processing. They are also offering new plans that cover the risk of theft, malicious damage, and non-delivery of goods and losses incurred due to fire, explosion, accidents, collisions, overturning, and hijacks, which has accelerated product adoption rates.

Marine Insurance Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the marine insurance market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Allianz SE
American International Group Inc
Aon plc
Arthur J. Gallagher & Co.
AXA S.A.
Beazley Group
Brown & Brown Inc.
Chubb Limited
Lloyd's of London
Lockton Companies
Marsh & McLennan Companies Inc.
QBE Insurance Group Limited
Swiss Re
Willis Towers Watson Public Limited Company
Zurich Insurance Group Ltd.

Key Market Segmentation:

The report has segmented the marine insurance market on the basis of species, shrimp size and region.

Based On Type:

Cargo Insurance
Hull and Machinery Insurance
Marine Liability Insurance
Offshore/Energy Insurance

Based On Distribution Channel:

Wholesalers
Retail Brokers
Others

Based On End User:

Ship Owners
Traders
Others

Based On Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=4690&flag=E

Key Highlights of the Report:                                                           

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact Us:

IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Marine Insurance Market Share Will Hit US$ 40.5 Billion By 2028 | Growth With Recent Trends & Demand here

News-ID: 3183642 • Views:

More Releases from IMARC Group

Automotive Control Cables Manufacturing Plant Setup Report 2025: Machinery, Raw Materials and Investment Insights
Automotive Control Cables Manufacturing Plant Setup Report 2025: Machinery, Raw …
Automotive control cables are essential components used to transmit mechanical force in vehicles, enabling the smooth operation of various systems such as brakes, clutches, accelerators, gear shifts, and seating mechanisms. These cables are designed for durability, flexibility, and high performance under diverse driving conditions. Their demand is directly linked to the growth of the automotive industry, aftermarket sales, and increasing consumer preference for enhanced driving comfort and safety. Setting up an
Halal Cosmetics Market Size, Trends, Key Players, Opportunity and Forecast 2025-2033
Halal Cosmetics Market Size, Trends, Key Players, Opportunity and Forecast 2025- …
IMARC Group, a leading market research company, has recently released a report titled "Halal Cosmetics Market Size, Share, Trends and Forecast by Type, Distribution Channel, and Region, 2025-2033." The study provides a detailed analysis of the industry, including the global halal cosmetics market size, trends, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market. Halal Cosmetics Market Highlights: • Halal Cosmetics Market
Comprehensive Castor Oil Processing Plant Project Report 2025: Setup Guide, Economics and Profitability Outlook
Comprehensive Castor Oil Processing Plant Project Report 2025: Setup Guide, Econ …
Castor oil is a versatile vegetable oil extracted from the seeds of the Ricinus communis plant. It is widely used in pharmaceuticals, cosmetics, food processing, lubricants, paints, coatings, and biodiesel production owing to its unique chemical properties, including high ricinoleic acid content. Castor oil derivatives also serve as key raw materials in the polymer, chemical, and industrial sectors. Establishing a castor oil processing plant involves steps such as seed cleaning, dehulling,
Honey Processing Plant Report 2025: Capital Investment, Operating Expenses and Market Opportunities
Honey Processing Plant Report 2025: Capital Investment, Operating Expenses and M …
Honey is a natural sweetener produced by honeybees and is valued for its nutritional, medicinal, and industrial applications. It contains antioxidants, enzymes, vitamins, and minerals that make it a popular ingredient in food and beverages, pharmaceuticals, cosmetics, and personal care products. Processed honey is widely consumed as a sweetener, used in bakery and confectionery items, beverages, dietary supplements, and skincare formulations. Setting up a honey processing plant involves operations such as

All 5 Releases


More Releases for Insurance

Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts. It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021). The report also