Global Construction Insurance market is valued approximately at USD XX Billion in 2018 and is anticipated to grow with a growth rate of more than XX% over the forecast period 2019-2026. Construction insurance is an insurance that offers financial protection for the risks caused by a building or structure and unexpected incidents that result in damages and injuries during the building of a building. Construction companies or other people who have an interest in the property that is being constructed usually buy the house. Construction projects are often highly costly projects with specific risk levels. Without building compensation, this project will be extremely costly for businesses to join. Increasing construction projects across different geographies would demand higher adoption of construction insurance in the coming years. For instance, as per the World Economic Forum (WEF) report in 2016, China spends 8.3% of country's GDP in infrastructure projects followed by 5.6% in India, 4.4% in Australia and others. Thus, rising construction projects and government spending in construction sector would positively affect the market growth in the coming years.
The regional analysis of global Construction Insurance market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading region in terms of revenue for the construction insurance market. Additionally, Asia-Pacific is expected to grow at highest CAGR in the coming years.
Market player included in this report are:
Allianz
AIG
Tokio Marine
ACE & Chubb
XL group
QBE
Zurich Insurance
AXA
Beazley
Munich RE
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Professional Liability
Property and Casualty
By Application:
Agency
Bancassurance
Digital & Direct Channels
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026
Target Audience of the Global Construction Insurance Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors