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Cargo Transportation Insurance Market 2023 Latest Insights, Growth Rate, Future Trends And Forecast | Axa SA, Generali, Lloyd's of London, American International Group Inc., The Phoenix Insurance Company Ltd
Cargo Transportation Insurance Global Market Report
The Business Research Company's Cargo Transportation Insurance Global Market Report 2023 identifies 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.
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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Major players in the cargo transportation insurance market are Axa SA, Generali, Lloyd's of London, American International Group Inc., The Phoenix Insurance Company Ltd., Tokio Marine, Chubb Corp., Swiss Reinsurance Company Ltd., Zurich Insurance Group Ltd., Sompo International, Travelers Companies Inc., Marsh LLC, Samsung Fire and Marine Insurance Co. Ltd., QBE Insurance Group, Aon PLC, Markel Corporation, HDI Global, Arthur J. Gallagher and Co., Allianz SE, Hanover Insurance Group, Lockton Companies Inc., Hiscox, Great American Insurance Group, Mitsui Sumitomo Insurance, RSA Insurance Group, C&S Insurance Agency Inc., Liberty General Insurance Ltd., and Progressive Services Co.
A key trend in the Cargo Transportation Insurance market includes the 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.
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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
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Cargo Transportation Insurance market.
The Business Research Company's "Global Cargo Transportation Insurance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cargo Transportation Insurance Market Include:
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. Cargo Transportation Insurance Market Size And Growth
……
27. Cargo Transportation Insurance Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cargo Transportation Insurance Market
29. Cargo Transportation Insurance Market Future Outlook and Potential Analysis
30. Appendix
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