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Global Cargo Transportation Insurance Market Outlook 2023 - Estimated Market Size And Growth Rate | Axa SA, Generali, Lloyd's of London
Global Cargo Transportation Insurance Market Outlook 2023
The Business Research Company's Cargo Transportation Insurance Global Market Report 2023 identifies the rising marine transportation as the major driver for the Cargo Transportation Insurance market's growth in the forecast period. 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 competitors in the Cargo Transportation Insurance market are Axa SA, Generali, Lloyd's of London, American International Group Inc., The Phoenix Insurance Company Ltd.
A key trend in the Cargo Transportation Insurance market includes technological advancement. 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 -
• By Type: Land Cargo Insurance, Air Cargo Insurance, Marine Cargo Insurance, Parcel Transportation Insurance
• By Forms Of Transport: Sea Transport, Domestic Rail Transport, International Rail Transport, Domestic Road Transport, International Road Transport, Air Transport
• By Policy Type: Open Cover Cargo Policy, Specific Cargo Policy, Contingency Insurance Policy
• 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. Global Cargo Transportation Insurance Market Size and Growth
……
32. Global Cargo Transportation Insurance Market Competitive Benchmarking
33. Global Cargo Transportation Insurance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cargo Transportation Insurance Market
35. Cargo Transportation Insurance Market Future Outlook and Potential Analysis
36. Appendix
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