Press release
Extended Warranty Market May Set New Growth Story | Allianz, Chubb, AllStates
Extended Warranty
The Extended Warranty market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Key Players in This Report Include:
Chubb Limited, Allianz Global Assistance, Amtrust Financial Services, Inc., Assurant, Inc. (The Warranty Group, Inc.), AllStates (SquareTrade, Inc.), American International Group, Inc., Asurion LLC
According to HTF Market Intelligence, the global Extended Warranty market is valued at USD 128,903.16 Million in 2023 and estimated to reach a revenue of USD 179,097.07 Million by 2030, with a CAGR of 5.63% from 2023 to 2030.
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Definition:
An extended warranty, also known as a service contract or extended service plan, is a protection plan offered by manufacturers or third-party providers to cover the repair or replacement costs of certain products beyond the original manufacturer's warranty period. These warranties are typically available for a wide range of products such as electronics, appliances, vehicles, and home systems.
Market Trends:
Companies were increasingly offering extended warranty plans for a broader range of products.
This includes not only traditional items like electronics and appliances but also newer technologies and services.
Market Drivers:
Extended warranties provide consumers with a sense of security and peace of mind. Knowing that their purchased product is covered beyond the standard warranty period can alleviate concerns about unexpected repair costs.
Market Opportunities:
Companies can explore expanding their extended warranty offerings to cover a wider range of products and services.
This could include not only traditional items like electronics and appliances but also emerging technologies, home systems, and subscription-based services.
Segmentation Overview :
The study have segmented the market of Global Extended Warranty market by Type , by Application (Automobiles, Consumer Electronics, Home Appliances (TV), Mobile Devices, PCs, Others) and Region with a country level break-up. On the basis of Type, Protection Plan is dominating the market and held 59.94% of market share in the year 2022 whereas Accidental Protection Plan stood as second largest market share and accounted for 40.06%. On the basis of application, Automobiles segment is dominating the market and hold 38.65% of market share in the year 2022 where as Mobile Devices segment stood as second largest market.
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The Global Extended Warranty Market segments and Market Data Break Down are illuminated below:
Global Extended Warranty Market Breakdown by Application (Automobiles, Consumer Electronics, Home Appliances (TV), Mobile Devices, PCs, Others) by Type (Protection Plan, Accidental Protection Plan) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Global Extended Warranty market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
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Objectives of the Report :
• -To carefully analyze and forecast the size of the Extended Warranty market by value and volume.
• -To estimate the market shares of major segments of the Extended Warranty
• -To showcase the development of the Extended Warranty market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Extended Warranty market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Extended Warranty
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Extended Warranty market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
Major highlights from Table of Contents:
Extended Warranty Market Study Coverage:
• It includes major manufacturers, emerging player's growth story, and major business segments of Extended Warranty market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• Extended Warranty Market Executive Summary:
It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Extended Warranty Market Production by Region Extended Warranty Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
• Key Points Covered in Extended Warranty Market Report :
• Extended Warranty Overview, Definition and Classification Market drivers and barriers
• Extended Warranty Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Extended Warranty Market
• Extended Warranty Capacity, Production, Revenue (Value) by Region (2023-2030)
• Extended Warranty Supply (Production), Consumption, Export, Import by Region (2023-2030)
• Extended Warranty Production, Revenue (Value), Price Trend by Type {Protection Plan, Accidental Protection Plan}
• Extended Warranty Manufacturers Profiles/Analysis Extended Warranty Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered :
How feasible is Extended Warranty market for long-term investment?
What are influencing factors driving the demand for Extended Warranty near future?
What is the impact analysis of various factors in the Global Extended Warranty market growth?
What are the recent trends in the regional market and how successful they are?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.
Thanks for reading this article; HTF MI also offers Custom Research services providing focused, comprehensive, and tailored research according to clientele objectives. Thanks for reading this article; you can also get individual chapter-wise sections or region-wise reports like Balkan, China-based, Japanese, German, North American, Europe, or Southeast Asia.
Contact Us :
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
sales@htfmarketintelligence.com
Connect with us at LinkedIn | Facebook | Twitter
About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to enable businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.
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