Projected Growth: Road Assistance Insurance Market to Generate $13.9 Billion by 2031 | IFFCO-Tokio General Insurance Company Limited, Progressive Casualty Insurance Company

According to the report published by Allied Market Research, the global road assistance insurance market garnered $5.9 billion in 2021, and is estimated to generate $13.9 billion by 2031, manifesting a CAGR of 9.4% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 :
https://www.alliedmarketresearch.com/request-sample/32328

Covid-19 Scenario:
The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global road assistance insurance market, owing to implementation of global lockdown which resulted to temporary closure of production facilities.
Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
However, with relaxations in restrictions, the demand for road assistance insurance is likely to increase in the post-pandemic.

The research provides detailed segmentation of the global road assistance insurance market based on Vehicle Type, Coverage, Distribution Channel, and Region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on vehicle type, the passenger vehicle segment held the highest share in 2021, accounting for more than two-thirds of the global road assistance insurance market, and is expected to continue its leadership status during the forecast period. However, the commercial vehicle segment is expected to register the highest CAGR of 12.8% from 2022 to 2031.

Based on coverage, the towing segment accounted for the highest share in 2021, contributing to nearly two-fifths of the global road assistance insurance market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the lockout/replacement key service segment is expected to manifest the highest CAGR of 14.1% from 2022 to 2031.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠:
https://www.alliedmarketresearch.com/purchase-enquiry/32328

Based on distribution channel, the independent agents/brokers segment accounted for the highest share in 2021, holding more than two-fifths of the global road assistance insurance market, and is expected to continue its leadership status during the forecast period. However, the direct response segment is estimated to grow at the highest CAGR of 11.7% during the forecast period.

Based on region, Europe held the largest share in 2021, contributing to nearly two-fifths of the global road assistance insurance market share. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 13.1% during the forecast period and is projected to maintain its dominant share in terms of revenue in 2031.

Leading market players of the global road assistance insurance market analyzed in the research include Agero, Inc., Allstate Insurance Company, American Express Company, Erie Indemnity Co., GEICO, USAA, IFFCO-Tokio General Insurance Company Limited, Progressive Casualty Insurance Company, Nationwide Mutual Insurance Company, Viking Assistance Group.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.alliedmarketresearch.com/request-for-customization/A31872

The report provides a detailed analysis of these key players of the global road assistance insurance market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 :
https://www.alliedmarketresearch.com/road-assistance-insurance-market-A31872

KEY FINDINGS OF THE STUDY

By distribution channel, the independent agents/brokers segment accounted for the highest road assistance insurance market share in terms of revenue in 2021.
Based on vehicle type, the indirect commercial vehicle segment is expected to exhibit the fastest growth rate during the forecast period.
Region-wise, Europe generated the highest revenue in 2021 in road assistance insurance market size.

𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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