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Home Warranty Services Market Size, Share, Competitive Landscape and Trend Analysis Report 2032
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Home warranty services encompass the coverage of structural defects in homes arising from natural disasters or subpar construction quality. Homeowners can avail policies covering up to 10 years of structural defects, including issues with flooring, walls, roof, fence, and sheetrock. Additionally, housing warranties typically offer two-year coverage for electrical and plumbing systems and six months for household appliances. The cost of a building warranty policy is commonly integrated into the overall price of a new home. It is important to note that home warranty providers may refuse coverage for various reasons, and pre-existing damages before purchasing the warranty are typically not covered. A pre-purchase home inspection is recommended to identify any such damages to other systems or equipment. Furthermore, the warranty company may deny coverage for items that have been misused, improperly installed, or not used in accordance with guidelines.
The growth of the global home warranty service market is primarily propelled by an increased demand for the protection of expensive appliances such as refrigerators, heating, ventilation, and air conditioning (HVAC) systems, dishwashers, ovens, cooktops, plumbing, and electrical systems. This aids in the maintenance and servicing of appliances and home systems. Moreover, growing awareness of warranty services is fostering market growth, particularly in tier 2 and tier 3 cities, leading to an uptick in subscriptions from service providers. However, hidden charges during warranty claims and stringent terms and conditions imposed by service providers act as restraining factors for market growth.
Nevertheless, the rise in expenditure on home services, particularly in developing countries like China, India, and Brazil, is expected to create new opportunities for the home warranty service market during the forecast period.
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The global home warranty service market is categorized based on distribution channel, type, sales channel, application, and region. Distribution channels include brokers, agents & branches, and others. Types of home warranty services comprise home systems and appliances. Applications include residential and commercial, while sales channels encompass renewals, home resale, and direct-to-consumer. Geographically, the market is analyzed across North America (including the U.S., Canada, and Mexico), Europe (covering Germany, France, Italy, the UK, and the rest of Europe), Asia-Pacific (encompassing China, Japan, South Korea, India, and the rest of Asia-Pacific), and LAMEA (comprising Latin America, the Middle East, and Africa).
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Competitive Analysis
Major players in the home warranty service market include AFC Home Club, Cinch Home Services, Inc., First American Home Warranty, FNHW (Fidelity National Home Warranty), Frontdoor, Inc., Home Buyers Warranty Corporation, Landmark Home Warranty, Old Republic International Corporation, Oneguard Home Warranties, and Transforms SR Brands LLC. These companies have adopted strategies such as product launches and business expansions to enhance their offerings and services in the home warranty service market.
Key Benefits for Stakeholders
The report offers an extensive analysis of current trends, future estimations, and dynamics in the home warranty service market.
In-depth market analysis is conducted for key segments between 2021 and 2030.
The report provides a comprehensive analysis of four major regions to determine prevailing opportunities.
Market forecast analysis from 2021 to 2030 is included in the report.
The strategies of key market players are thoroughly analyzed to understand the competitive outlook of the industry.
For More Information: https://www.alliedmarketresearch.com/home-warranty-service-market-A13578
Key Market Segments
By Distribution Channel
Brokers
Agents & Branches
Others
By Type
Home Systems
Appliances
By Application
Residential
Commercial
By Sales Channel
Renewals
Home Resale
Direct to Customer
By Region
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Players
AFC Home Club
Cinch Home Services, Inc.
First American Home Warranty
FNHW (Fidelity National Home Warranty)
Frontdoor, Inc.
Home Buyers Warranty Corporation
Landmark Home Warranty
Old Republic International Corporation
Oneguard Home Warranties
Transforms SR Brands LLC
1. https://medium.com/@vijay.conma/home-warranty-service-report-says-current-market-capacity-production-revenue-price-cost-gross-d1ec1b81a2bc
2. https://www.linkedin.com/pulse/home-warranty-service-market-hit-1360-billion-allied-research-vijay/
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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