According to the latest report by IMARC Group, titled “Trade Credit Insurance Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global trade credit insurance market reached a value of US$ XX Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2021-2026.
Trade credit insurance is an advantageous risk management tool that protects businesses against payment risks. It facilitates a smooth trade of goods and services and helps in improving economic stability by addressing losses due to non-payment. The insurance covers sellers, factoring companies, and banks, and financial institutions. This insurance plan largely benefits general insurance companies as it enables them to access new markets and multiple businesses, such as micro, small and medium enterprises (MSMEs).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Trade Credit Insurance Market Trends:
The global market is primarily driven by the rapid growth of small and medium-sized businesses. With the numerous initiatives undertaken by the governments of several countries to support micro, small and medium industries, the demand for trade credit insurance has also increased. Additionally, a considerable increase in the supply of goods and services and the rising import and export activities on the global level has accelerated the product demand in the market. Some of the other factors contributing to the market growth include the rising demand for insurance policies that offer benefits against commercial threats and significant growth in the banking, financial services, and insurance sector.
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Global Trade Credit Insurance Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- American International Group Inc.
- Aon plc
- Axa S.A.
- China Export & Credit Insurance Corporation
- Chubb Limited (ACE Limited)
- Euler Hermes (Allianz SE)
- Export Development Canada
- Nexus Underwriting Management Ltd.
- QBE Insurance Group Limited
- Willis Towers Watson Public Limited Company
- Zurich Insurance Group Ltd.
Market Breakup by Component:
Market Breakup by Coverages:
- Whole Turnover Coverage
- Single Buyer Coverage
Market Breakup by Enterprises Size:
- Large Enterprises
- Medium Enterprises
- Small Enterprises
Breakup by Application:
Market Breakup by Industry Vertical:
- Food and Beverages
- IT and Telecom
- Metals and Mining
- Energy and Utilities
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- The Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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