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Commercial Insurance Market Trends and Forecast
The future of the commercial insurance market looks promising with opportunities in the manufacturing, construction, transportation and logistics, IT and telecom, healthcare, and energy and utilities industries. The commercial insurance market is expected to grow with a CAGR of 7% to 9% from 2022 to 2027. The major drivers for this market are growing awareness among enterprises to protect assets and well-being of employees, rising numbers of insurance providers and lucrative offers at low premium costs, government initiatives to encourage business owners to purchase insurances, and competition among enterprises to protect their reputation.
Commercial Insurance Market by Type, Enterprise, Distribution Channel, and Industry Verticals
A total of xx figures / charts and xx tables are provided in this more than 150-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the commercial insurance market report, please download the report brochure.
Commercial Insurance Market by Segments
Commercial Insurance Market by Segment
The study includes a forecast for the global commercial insurance market by type, enterprise, distribution channel, and industry verticals, and region as follows:
Commercial Insurance Market by Type [Value ($M) shipment analysis for 2016 – 2027]:
  • Liability Insurance
  • Commercial Motor Insurance
  • Commercial Property Insurance
  • Marine Insurance
  • Others
Commercial Insurance Market by Enterprise [Value ($M) shipment analysis for 2016 – 2027]:
  • Large Enterprises
  • Small and Medium-sized Enterprises
Commercial Insurance Market by Distribution Channel [Value ($M) shipment analysis for 2016 – 2027]:
  • Agents and Brokers
  • Direct Response
  • Others
Commercial Insurance Market by Industry Vertical [Value ($M) shipment analysis for 2016 – 2027]:
  • Manufacturing
  • Construction
  • Transportation and Logistics
  • IT and Telecom
  • Healthcare
  • Energy and Utilities
  • Others
Commercial Insurance Market by Region [Value ($M) shipment analysis for 2016 – 2027]:
  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World
List of Commercial Insurance Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies commercial insurance companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the commercial insurance companies profiled in this report includes.
Commercial Insurance Market Insight
  • Lucintel forecasts within the global commercial insurance market, the liability insurance type will remain the largest segment due to the benefits covered under this insurance policy including covering all types of damages caused by the business to another person or party thereby protecting the business owners from unanticipated financial losses.
  • Lucintel forecasts that within the commercial insurance market segment by industry verticals, transportation & logistics will remain the largest segment over the forecast period due to rapid growth and development in port, marine, and road transportation specifically in emerging economies, fear of unpredictable loss considering sensitivity and numerous risks associated with shipping, and increased demand for E-commerce and online shopping.
  • North America is expected to remain the largest market due to adoption of advanced technologies including artificial intelligence (AI), digitization, ease in services by allowing online applications and approvals, chatbots, and well-structured IT infrastructure between the distribution channels.
  • Asia Pacific is expected to witness the highest growth over the forecast period due to the awareness among small, medium, and large enterprises regarding the benefits, growing number of insurance service providers and increasing competition between them allows more services and benefits to commercial insurance users. APAC has the world’s largest population and countries with fastest-growing economies, which are contributing factors in propelling the demand for commercial insurance by various enterprises.  
Features of Commercial Insurance Market
  • Market Size Estimates: Commercial Insurance market size estimation in terms of value ($M)
  • Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
  • Segmentation Analysis: Market size by type, enterprise, distribution channel, and industry verticals
  • Regional Analysis: Commercial Insurance market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different type, enterprise, distribution channel, industry verticals, and regions for the commercial insurance market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the commercial insurance market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the commercial insurance market size?
Answer: The global commercial insurance market is expected to reach an estimated $XX billion by 2027  
Q2. What is the growth forecast for commercial insurance market?
Answer: The commercial insurance market is expected to grow at a CAGR of 7% to 9% from 2022 to 2027.         
Q3. What are the major drivers influencing the growth of the commercial insurance market?
Answer: The major drivers for this market growing awareness among enterprises to protect assets and well-being of employees, rising numbers of insurance providers and lucrative offers at low premium costs, government initiatives to encourage business owners to purchase insurances, and competition among enterprises to protect their reputation.     
Q4. What are the major applications or end use industries for commercial insurance?
Answer: Manufacturing, construction, transportation and logistics, IT and telecom, healthcare, and energy and utilities, and others are major end use industries
Q5. Who are the key commercial insurance companies?
Answer: Some of the key commercial insurance companies are as follows:
  • Allianz
  • American International Group, Inc.
  • Aon plc
  • Aviva
  • AXA
  • Chubb
  • Direct Line Insurance Group plc
  • Marsh
  • Willis Towers Watson
  • Zurich
Q6. Which commercial insurance type segment will be the largest in future?
Answer: Lucintel forecasts that liability insurance type will remain the largest segment due to the benefits covered under this insurance policy including covering all types of damages caused by the business to another person or party thereby protecting the business owners from unanticipated financial losses.
Q7. In commercial insurance market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to remain the largest region over next 5 years         
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global commercial insurance market by type (liability insurance, commercial motor insurance, commercial property insurance, marine insurance, and others), by enterprise (large enterprises and small and medium-sized enterprises) by distribution channel (agents and brokers, direct response, and others) end use industry (manufacturing, construction, transportation and logistics, IT and telecom, healthcare, and energy and utilities, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
 
For any questions related to commercial insurance market or related to commercial insurance market share, commercial insurance analysis, commercial insurance market size, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
 
2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2016 to 2027
3.1: Macroeconomic Trends (2016-2021) and Forecast (2022-2027)
3.2: Global Commercial Insurance Market Trends (2016-2021) and Forecast (2022-2027)
3.3: Global Commercial Insurance Market by Type 
3.3.1: Liability Insurance
3.3.2: Commercial Motor Insurance
3.3.3: Commercial Property Insurance
3.3.4: Marine Insurance
3.3.5: Others
3.4: Global Commercial Insurance Market by Industry Verticals 
3.4.1: Manufacturing
3.4.2: Construction
3.4.3: Transportation and Logistics
3.4.4: IT and Telecom
3.4.5: Healthcare
3.4.6: Energy and Utilities
3.4.7: Others
 
4. Market Trends and Forecast Analysis by Region from 2016 to 2027
4.1: Global Commercial Insurance Market by Region
4.2: North American Commercial Insurance Market
4.2.1: Market by Type: Liability Insurance, Commercial Motor Insurance, Commercial Property Insurance, Marine Insurance, and Others
4.2.2: Market by Industry Verticals: Manufacturing, Construction, Transportation and Logistics, IT and Telecom, Healthcare, and Energy and Utilities, and Others
4.3: European Commercial Insurance Market
4.3.1: Market by Type: Liability Insurance, Commercial Motor Insurance, Commercial Property Insurance, Marine Insurance, and Others
4.3.2: Market by Industry Verticals: Manufacturing, Construction, Transportation and Logistics, IT and Telecom, Healthcare, and Energy and Utilities, and Others
4.4: APAC Commercial Insurance Market
4.4.1: Market by Type: Liability Insurance, Commercial Motor Insurance, Commercial Property Insurance, Marine Insurance, and Others
4.4.2: Market by Industry Verticals: Manufacturing, Construction, Transportation and Logistics, IT and Telecom, Healthcare, and Energy and Utilities, and Others
4.5: ROW Commercial Insurance Market
4.5.1: Market by Type: Liability Insurance, Commercial Motor Insurance, Commercial Property Insurance, Marine Insurance, and Others
4.5.2: Market by Industry Verticals: Manufacturing, Construction, Transportation and Logistics, IT and Telecom, Healthcare, and Energy and Utilities, and Others
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Geographical Reach
5.3: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Commercial Insurance Market by Type
6.1.2: Growth Opportunities for the Global Commercial Insurance Market by Industry Enterprise
6.1.3: Growth Opportunities for the Global Commercial Insurance Market by Distribution Channel
6.1.4: Growth Opportunities for the Global Commercial Insurance Market by Industry Verticals
6.1.5: Growth Opportunities for the Global Commercial Insurance Market by Region 
6.2: Emerging Trends in the Global Commercial Insurance Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Commercial Insurance Market
6.3.3: Mergers and Acquisitions, and Joint Ventures in the Global Commercial Insurance Industry
 
7. Company Profiles of Leading Players
7.1: Allianz
7.2: American International Group, Inc.
7.3: Aon plc
7.4: Aviva
7.5: AXA
7.6: Chubb
7.7: Direct Line Insurance Group plc
7.8: Marsh
7.9: Willis Towers Watson
7.10: Zurich
 
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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